DAO (Decentralized Autonomous Organization, a term that designates an entity governed by an online community whose rules are defined through smart contracts, registered in the blockchain.
A decentralized autonomous organization, or DAO, is a blockchain-based form of organization or company that is usually governed by a token. Anyone who buys and holds these tokens, called governance tokens, gains the ability to vote on important matters directly related to the DAO.
Rather than using traditional corporate structures to coordinate efforts and resources to achieve common goals, DAOs typically use smart contracts, self-executing computer programs that perform specific functions when certain conditions are met.