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– an acronym for Decentralized Autonomous Organization.  

A concept unique to the blockchain space, where the entirety of a project, protocol or organization is governed through decentralized decision-making, in an autonomous way.  

Bitcoin is one example that is sometimes considered a DAO.  Decision making is handled by votes that are recorded by a smart contract.

Some are saying..

2021 is the year of the DAO. Here
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