Blockchain technology has enabled a new kind of distributed systems. Decentralized Autonomous Organizations (DAOs) typically implement systems that allow an online community to make decisions relative to a project functional objective.
A DAO is an organization for which possessing a certain custom token is the key to get in. The custom token is cryptocurrency.
The blockchain is supposed to be anonymous, but it is actually pseudonymous. You are identified by your transaction, and by some element of the community. Your cryptocurrency wallet has a unique address, so it is identifable.
Spending cryptocurrency (moving funds back and forth) is governed by votes that happen on the blockchain.
Non-fungible token (NFT). A non-fungible token is a non-interchangeable unit of data stored on a blockchain, a form of digital ledger, that can be sold and traded. NFTs can represent real-world items like artwork and real estate, and buying, selling, and trading them is more efficient and the NFT reduces the probability of fraud.
Discord is a chat and discussion app is the most popular platform for doing DAO activities. It has a voting bot. It is not truly decentrailized or autonomous (has admins).
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