Page 59 - Understanding EOS TojuKaka FlipBook

DAO

DAO (Decentralized Autonomous Organization) also
refers to (DAC (Decentralized Autonomous
Cooperation/Company). Daniel Larimer first
proposed the concept of a DAO on September 7,
2013. With DAO, organizations can be administered
in a decentralized manner. It is a way of starting or
running faceless organizations without leaders.

These organizations can run via rules that are defined
by programming languages on the blockchain. How
the members will vote, what business the
organization will operate in, who the members can be
and how the value tokens will be exchanged, can all
be programmed on the blockchain which will run the
organization. These organizations cannot stop once
deployed and can work worldwide.

DApps have the potential
to replace apps

DApps have the potential to replace regular apps
because they give more value to the users. Users will
naturally gravitate towards a cheaper, fairer and more
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