Too Long; Didn't Read
DAO (Decentralized Autonomous Organization) is a unique concept that operates businesses without a hierarchical management system. DAO is a smart contract running an intelligent algorithm that can carry out decisions based on the information and without intervention or presence of traditional management. The biggest problem with DAO was its rigidity because once it is let loose, no one could change the code. The drawback is subjective: In some cases, it would prevent tampering, but, other times if someone with malicious intent finds a flaw or vulnerability, he can exploit it for personal gains.