Opening Word document…
It's the defining characteristic of a DAO.
Simmons ’23 [Jake; December 9; former founder and managing partner at CNF and Crypto Journalism; NewsBTC, “What Is A DAO,” https://www.newsbtc.com/web3/what-is-a-dao-meaning/] nikhil
The defining characteristic of a DAO is its reliance on smart contracts to automate administrative functions and enforce the rules set forth by its members. This automation not only minimizes the need for intermediaries but also ensures that the organization's operations are immutable, transparent, and aligned with the interests of its token holders. DAOs, therefore, redefine organizational management by embedding trust, integrity, and collective intelligence at their core.
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