“DAO” - means Decentralized Autonomous Organization.
When you think of an organization, whether that be corporate structure - like CoinMetro - whether it be a foundation, or a fund.
Usually, it gets registered somewhere, some type of certificate, and then there’s usually governance - board meetings, where decisions can be made.
What a DAO means: Autonomous means it’s automatic, it can happen without physical input. Basically an organization built inside a smart contract.
Governance of that organization for meetings, making decisions, is controlled on a blockchain, and the information instead of being in a paper registry, is registered in a blockchain.
This leads us to a future where there are no paper registries, an organization can be registered via a decentralized, automatic approach, that is decentralized and allows you to maintain and control that organization.
Imagine a fund, where everything that goes into a fund, is basically voted on by the shareholders through the smart contract by use of a token.
That’s basically what a DAO Is.