DAO explained - Types, key characteristics & flipsides

economictimes.indiatimes.com:

What are DAOs, and why do they make sense to crypto investors in 2022? Organizations still conduct meetings behind closed doors, and only a select few are behind the decision-making process. DAOs aim to eliminate these localized positions of power. DAO stands for Digital Autonomous Organization, and it is more than just a crypto buzzword. You will learn more about these crypto concepts if you read crypto theme blog websites like CoinSwitch Kuber..

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So, back to DAO, it is a service, a new vision, or a reality that companies in the modern world must accept as soon as possible. DAO is an entity with no central leadership. It is a virtual organization where the decision-making process and treasury management are managed over Blockchain Technology. From a more technical standpoint, every DAO is prefaced by relevant open-source code, making the firm’s management structure more transparent and open. What problem does a DAO solve? The majority of modern-day businesses are still centralised, which means that there is always a top-down governing body in place. Proposals to facilitate organisational changes that affect all of its units/employees aren't transparent, the consensus isn't respected, and even finances aren't clearly defined or allocated, with only a few in charge of the influential processes. DAO, as internet and blockchain-native entity, offers several advantages over traditional businesses. While we could write an entire whitepaper to explain the advantages, here are two points that will help you sum up the concept more effectively.DAOs