DeVault DAOs

Decentralized Autonomous Organisations

The Great DAOs

Decentralized Autonomous Organisations
DAO letter in traditional chinese"Dao" letter in traditional chinese

Despite all common sense and logic, in this very particular case DAO has nothing to do with Tao or Taoism itself.

Often when spoken quickly (especially on different conference calls), one might think the speaker's refering to The Dow (or "The Great Dao" as refered by Lao Tzu in his writings of "Tao Te Ching" / "Daodejing")... but no. Not in this context.

In the cryptocurrency world, which - as always - tends to make things "easier to understand" for common bread eater, we shall refer to DAOs as Decentralized Autonomous Organisations, and from now on we'll treat them as such.

A decentralized autonomous organization (DAO), also known as decentralized autonomous corporation (DAC) is an organization governed by rules described and enforced by computer code that is fully transparent. DAOs have no clear legal status, shareholders or centralized govenment. All transaction records and rules are kept on a blockchain.

To learn more, we direct you to search information and articles about DAOs.