Too Long; Didn't Read
Decentralized Autonomous Organization is the latest trend in the cryptocurrency market. DAO is an organization run by the rules enforced by a smart contract while collectively owned, controlled, and managed by its members. DAOs are being used for investment, fundraising, buying digital assets, borrowing, in media, and charity, all the while removing the need for intermediaries. In the past year, DAOs surpassed 1.6 million in membership in December, a surge of 130x from a mere 13,000 last January.