Tag: DAO

A decentralized autonomous organization (DAO) or a decentralized autonomous corporation is an organizational form in which the coordination of the activities of participants and the management of resources takes place in accordance with a pre-agreed and formalized set of rules, the enforcement of which is performed automatically[1]. DAO rules can be set in smart contracts. Records of DAO financial transactions and the programming rules of such contracts are stored in the chain of transaction blocks. There are several examples of the implementation of this business model. The exact legal status of this method of doing business is not entirely clear.