Decentralized Autonomous Organizations (DAO)

Decentralized Autonomous Organizations (DAO) refers to companies set out in a decentralized fashion based on blockchain-enabled smart contracts. The idea behind setting up a DAO is to allow communities and contributors fair participation in the governance and future development of blockchain technologies.

DAO enables each participant to take an equal part in decision-making within the organization. These decisions include how the company is using the funds and other resources. The consensus in DAO is achieved via a distributed, decentralized blockchain where each DAO can determine their required percentage for a decision to pass.