DAOs

Decentralized Autonomous Organizations (DAOs) are digital communities or organizations that operate based on rules encoded in smart contracts on a blockchain. Instead of a central leader or management team, members collectively make decisions through voting. Funds and resources are managed transparently on the blockchain, ensuring trust and accountability. Think of a DAO as a digital club where members democratically decide on activities and allocations, with all actions openly recorded and automated by code. This structure enables flexible, transparent governance without traditional hierarchical oversight.