Decentralized autonomous organization

A decentralized autonomous organization (DAO) is like a company that runs itself without needing any people. It is run by computer programs (like software) that know exactly what to do and when to do it. They are kind of like robots that make decisions based on rules they are programmed with. They are different from regular companies because it doesn't have any people in charge. It makes decisions and runs itself without anyone telling it what to do.