Decentralized autonomous organizations (DAOs) are member-owned communities without centralized leadership. These are a safe way to collaborate with internet strangers.
- Popularized through cryptocurrency enthusiasts and blockchain technology, DAOs are used to make decisions in a bottom-up management approach.
- These are places to commit funds to a specific cause.
- A DAO is a collectively-owned, blockchain-governed organization working towards a shared mission.
- DAOs allow to work with like-minded folks around the globe without trusting a benevolent leader to manage the funds or operations.
- There is no CEO who can spend funds on a whim or CFO who can manipulate the books. Instead, blockchain-based rules baked into the code define how the organization works and how funds are spent.
- They have built-in treasuries that no one has the authority to access without the approval of the group.
- Decisions are governed by proposals and voting to ensure everyone in the organization has a voice, and everything happens transparently on-chain.
