Decentralized autonomous organizations

Decentralized autonomous organizations, also known as DAOs, are some of the best use cases of the blockchain since they're the perfect link between trust and old systems that should be updated for modern times.

Explaining DAOs

A DAO aims to be the main place where businesses make decisions. They are the decentralized version of traditional companies that reach decisions by discussing with stakeholders and key components of each DAO. Simply, they use the trustless nature of the Ethereum blockchain to form a legal company with all of its possibilities.

They rely on smart contracts to provide hardcoded functionalities where users can make decisions and reach agreements with multi-signature...