A decentralized autonomous organization, sometimes called a decentralized autonomous corporation, is an organization represented by rules encoded as a computer program that is transparent, controlled by the organization members and not influenced by a central government.

What does DAO mean?

dao, (Chinese: “way,” “road,” “path,” “course,” “speech,” or “method”) Wade-Giles romanization tao, the fundamental concept of Chinese philosophy.

What is DAO and how it works?

A decentralized autonomous organization (DAO) is an entity with no central leadership. Decisions get made from the bottom-up, governed by a community organized around a specific set of rules enforced on a blockchain. DAOs are internet-native organizations collectively owned and managed by their members.