DAO stands for Decentralized Autonomous Organization. This seems to be an experiment in democratic group action. The "process" is: the community approves or de

DAO stands for Decentralized Autonomous Organization. This seems to be an experiment in democratic group action. The "process" is: the community approves or declines plain English Proposals backed by smart contract code aimed at building products or services for the benefit of its members. All operational elements are programmed into the Proposals submitted by Contractors. The Proposals submitted will give day-to-day operational control over to the Contractors, while enforcing strict payment schedules executed in predefined instalments.