I liked this simple definition of DAOs proposed by the Bankless guys: “digitally native communities that center around a shared mission.” Where the communities are bottoms-up, flexible, and loosely organized. They have a shared mission and protocol (on the blockchain), internal capital, and enforceable social norms, and they can be used to manage j... See more

Supporters believe DAOs have the potential to reshape the way we work, make group decisions, allocate resources, distribute wealth, and solve some of the world’s biggest problems. DAOs are why Ethereum was created in the first place.

4. DAOs are trust-less organizations owned and governed by community members. DAOs have smart contracts for decentralization and humans on the periphery for governance.