What is DAO?
DAO is the abbreviation of Decentralized Autonomous Organization. It is an organizational form derived from the core ideology of blockchain (co-creation, co-construction, co-governance, and shared collaborative behaviours spontaneously generated by groups that reach the same consensus). It is a subsidiary product after the blockchain solves the problem of trust between people. DAO is an evolution of the company's organizational form, a revolutionary evolution in the history of human collaboration. Its essence is a form of blockchain technology application.
- 1.Distributed and decentralized. There is no central node and hierarchical management structure in DAO.
- 2.Autonomous and automated. In an ideal DAO, management is coded, procedural and automated. "Code is law"
- 3.Organized and ordered, relying on smart contracts, DAO's operating rules, participants' responsibilities and rights, and reward and punishment mechanisms are all open and transparent.
- 4.Intelligence and tokenization. The bottom layer of DAO encapsulates all the infrastructure supporting DAO and its derivative applications-Internet basic protocols, blockchain technology, artificial intelligence, big data, Internet of Things, etc. Technical support, using digital, intelligent, and on-chain and off-chain collaborative governance as governance methods, changed the traditional bureaucratic and human management methods, and realized the intelligent management of the organization.