Krutika Adani
DAO is a blockchain-based entity that is controlled by members with on-chain voting rights.
Each member has voting rights based on the number of governance tokens held by them.
They lack a central governance body and the decision-making is done by voting on different proposals.
A few examples include MakerDAO, Uniswap, BitDAO, and Decentraland.
Though they don’t enjoy full legal recognition, still, they still provide a more democratic decision-making process.