That’s consistent with my understanding. They seem to be functionally identical to a Board of Directors or how a co-operative might run. Though as I understan

That’s consistent with my understanding. They seem to be functionally identical to a Board of Directors or how a co-operative might run. Though as I understand, with potentially a very large number voters in ever-changing cloaked identities (as voting right tokens could be continuously bought & sold). Today, in the real world - DAO’s are an LLC coordinating on Discord, or Zoom, or other common communication tools. That DAO coordination happens fully in cyberspace is promoted as a unique differentiator to how businesses run today. In my experience, the key unique characteristic of DAOs are that you may not know who you’re doing business with.