Glossary

DAOs (Decentralized Autonomous Organizations)

DAOs are blockchain-based entities that operate without centralized control, governed by rules encoded as smart contracts. These digital organizations are run by a collective of members who make decisions in a democratic fashion, often through token-based voting mechanisms. DAOs aim to democratize business operations and decision-making processes, enabling transparent, efficient, and secure collaboration among stakeholders. They are used for a variety of purposes, including managing collective investments, operating decentralized applications (dApps), and organizing community projects. DAOs represent a shift toward a more open and participatory model of organizational governance and resource management.