What are decentralized autonomous organizations? (DAO)

[Grant]

I am just hearing about this myself, what technically is it? I am reading that a DAO is an organization with rules that are like encoded as computer programs. I see they mention it works with the blockchain, but that's really as far as I could understand haha. Is there anyone who can clear it up a bit for me?

 

[Nomad]

I am not an expert on this subject, however, based on my basic understanding of this concept DOA, it is an organization that is governed through a smart contract, there are no individual overlooking the affairs of this is organization. DAO can offer various financial services.

 

[Riberet19]

I think a DAO is a crypto community that comes together for the same purpose within blockchain technology, I've heard of DAOs that have pooled funds to buy really expensive historical pieces, it's basically a community of crypto enthusiasts who have a common purpose, I think so.

 

[Grant]

I am not an expert on this subject, however, based on my basic understanding of this concept DOA, it is an organization that is governed through a smart contract, there are no individual overlooking the affairs of this is organization. DAO can offer various financial services.

Okay that makes a bit more sense. Thanks for the response.

I think a DAO is a crypto community that comes together for the same purpose within blockchain technology, I've heard of DAOs that have pooled funds to buy really expensive historical pieces, it's basically a community of crypto enthusiasts who have a common purpose, I think so.

Oh okay, that explains a lot. Thanks for explaining it more to me.