2.1 Organization description
DAO is the abbreviation of Decentralized Autonomous Organization in English, and the Chinese translation is "island." It is an organizational form derived from the core idea of the blockchain (the collaborative behavior of co -creation, co -construction, co -governance, and spontaneous sharing generated by groups that reach the same consensus) . It is an accessory product of blockchain after solving the problem of trust between people.
DAO is an evolutionary version of the organizational form of the company and a revolutionary evolution in the history of human cooperation. Its essence is a form of blockchain technology application.
One of the characteristics of DAO is to provide a secure digital ledger by using blockchain technology to track financial interactions throughout the Internet and resist forgery through trusted time stamps and dissemination of a distributed database. This method makes it unnecessary to involve a mutually acceptable and trusted third party in financial affairs to simplify transactions.