Description: First DAO is decentralized autonomous organization based on smart contracts located in blockchain allows members making investments using crowd-funding model in any currencies including bitcoins and ethereums into the perspective startups.
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Decentralized Autonomous Organization
DAO is abbreviation of Decentralized Autonomous Organization.
It is new business model to run investor-directed venture capital funds which has no traditional management structure, is stateless, and it is not bounded to any particular location.