What is a DAO?
DAO or “Decentralized Autonomous Organization” is a community-led entity with no central authority. It is fully autonomous and transparent: smart contracts lay the foundational rules, execute the agreed upon decisions, and at any point, proposals, voting, and even the very code itself can be publicly audited.
In other words, DAO Collectives basically refer to groups of people centered on a specific purpose that work in coordination according to a shared set of rules encoded in code and therefore, resistant to influence, bias and corruption.
For most types of organizations, DAO can be thought of as a mix of Fan Club, Advisory Board, Patrons, Auditors and Supporters all rolled into one.
DAOs are in an early stage of evolution. This DAO gives you an opportunity to gain a firsthand experience of something that many believe will change how our society organizes. It’s expected to bring about an era of transparency and trust in organizational structures.