crypto world

DAO Unites Like-Minded Strangers

DAOs have been in the limelight lately for a good cause. They have grabbed the attention of renowned investors such as Andreessen Horowitz and Billionaire Mark Cuban and others. Many community members are seeing DAO as the “Next Big Thing” in the crypto world.

What are DAOs?

DAO or “Decentralized Autonomous Organization” is an online community that shares a common bank account. It does not matter the structure or shape of the DAO, but the cause.

DAOs, Fall into 2 major groups, the open source-blockchain projects and the investment type. Each DAO has its own structure, governance, rules, and goals. DAOs are decentralized, in that they do not have a central authority running them. The community members manage them through voting. Their rules are coded, making it difficult for any member to manipulate them because they are public.

As is with many crypto projects, DAOs have their share of drawbacks, however, they are about to disrupt the traditional organizational structures. Finally, they allow collaboration between like-minded strangers across the globe.https://en.wikipedia.org/wiki/Decentralized_autonomous_organization