DAO (decentralized autonomous organization)

A decentralized autonomous organization (DAO) is a internet-native organization with a built-in treasury to manage. In a traditional organization, a decision is made by a single person or group of people. A DAO, on the other hand, is run by algorithms and the users of the system. This means that the users are the ones who decide how the system should operate. The main benefit of using a DAO is that it allows for a specific set of participants to make decisions without having to know the identity or background of all the other participants. This is useful for specific and limited use-cases where an high number of individuals needs to be coordinated. For example, a DAO could be used to help fund a local school or community center, where the participants don't want to know the identity of the other participants. Instead, they provide a small amount of money and vote on which projects to fund. Nobody has access to the treasury without the approval of the group.