DAO is a business or organization whose decisions are made electronically by written electronic code or by the vote of its members. Basically a set of rules with a strong code that defines what action the organization will take.DAO are useful for organizing a large group of people with the same goal around the globe and creating coordination amongst the same type of people.

1. connect@mobiloitte.com Whatsapp: +91 9999525801 www.mobiloitte.com
Decentralized Autonomous Organization
A DAO is a business or organization whose decisions
are made electronically by a written computer code or
by the vote of its members. Basically it is a set of rules
with a strong code that outlines what actions the
organization will take. DAO was launched in 2016, It is
an early decentralized autonomous organization
(DAO) earmarked to act as an investor-directed
venture capital firm. Lauded as a revolutionary project,
The DAO has raised over $100+ million USD worth of
ether (ETH) and was one of the earliest crowdfunding
efforts and high-profile projects built on the Ethereum
blockchain.
Using Blockchain outside finance was an idea of the
Ethereum project. It eliminates the role of banks as
middlemen between individuals and businesses
transacting across borders, Ethereum blockchain
application development with smart contracts has
eliminated intermediaries across virtually every
industry. As an example, In cloud storage Smart
contracts in Ethereum has enabled decentralized
network participants to be rewarded in tokens for
sharing their unused disc space.
Smart contracts can be set up even for ordinary
businesses like sending and paying invoices, but no
matter how well the new model works, there is room
for improvement. Blockchain experts are discovering
ways to adapt to a new trend by building Private
Entities, Called DAOs. These complex smart
contract structures may have the most important
impact on the business of any blockchain
breakthrough so far.
DAO & Ethereum
Starting an organization with someone that includes
funding and funding requires a lot of trust from the
people you work with. But it’s hard to trust someone
you’ve only met online. With DAOs you do not need
to rely on anyone else in the group, only the DAO
code, which is 100% clear and proven by anyone.
This opens up so many opportunities for cooperation
and globalization.
• All activities are fully transparent.
• It is flat, and fully standardized.
• Voting is necessary by its members for any
changes to be done.
• Services offered are handled automatically in a
standardized manner (for example distribution of
philanthropic funds.
Why is there a need for DAO?