Decentralized Autonomous Organisation (DAO)
The abbreviation DAO refers to a “Decentralized Autonomous Organisation”. It includes neither management nor staff resp. shareholders. It solely is a digital company with a unchangeable rules of procedure and the next generation of “Machine-to-Machine-Business” (M2M). It rests on an Ethereum block chain and cannot be reached by public block chains. It aims at creating an organisation which is only controlled by smart contracts – completely without human involvement.