The DAO (organization) - Definition from the Hotspot Shield Encyclopedia
The DAO (Decentralized Autonomous Organization) was a venture fund and operated with the aim of creating a decentralized business model that could be used to organize both non-profit and commercial enterprises.
DAO was crowdfunded in early 2016 and set the record for obtaining the largest crowdfunding fund in history. DAO operates as a stateless organization with no management or central control, and its operation was largely conducted by individuals and groups on the Ethereum Blockchain. The DAO organization was instantiated on Ethereum and its source code is open source. DAO serves as a mechanical platform where developers can requests investment funds to help their business ideas and developments.