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docs_veda_strategic/docs/appendix/decentralization/dao.md
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Veda DAO 4 Learn about the Veda DAO. true

A DAO, or Decentralized Autonomous Organization, is an organizational structure that operates through smart contracts on a blockchain, with decision-making processes carried out in a decentralized and autonomous manner.

The Veda DAO aims to create transparency, eliminate centralized authority, and allow members to participate directly in decision-making.

its the technical underpinning of the cooperative, our digital tools on ledger tech.

Key Characteristics of a DAO:

  1. Decentralization

    • Decisions are made collectively by the members.

  2. Autonomy

    • Once deployed, a DAO operates according to its pre-defined smart contracts, which enforce rules and execute decisions automatically without manual intervention.

  3. Governance via Token Ownership

    • Members often participate in governance by holding tokens, which can be used to vote on proposals or influence decisions.

  4. Transparency

    • All transactions and governance decisions are recorded on the blockchain, ensuring accountability and transparency.

  5. Programmable Rules

    • DAOs use smart contracts to define rules, manage assets, and execute actions based on collective decisions.