What is DAO? How do they benefit the Community?

What is DAO? How do they benefit the Community?

What is DAO?
DAO is an acronym for Decentralized Autonomous Organization. It refers to an organization that works independently and is decentralized i.e. it does not need any third centralized party to take decisions. Their profitable and physical existence depends totally on their own decisions.

Basically, there are few fully computer-written codes that the organization follows. It works on blockchain with the help of smart contracts. It is very smart. It can issue tokens that can take care of many things in an office, for example, the incentives of the employees, payment of the contractors etc. They make decisions using internal logic or governance protocol...  
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