Dao stands for a digital decentralized autonomous organization that worked on the foundation of Ethereum blockchain that helped in structuring the decentralized business model for commercial as well as non-profit enterprises. It is just like Bitcoin but dealing with a smart contract that is Ether as the virtual currency.
The community started thinking about forming such organization.that worked on the principle of blockchain and deals in providing cryptocurrency as the venture capital funds. The DAO or Decentralized Autonomous Organization is a concept that will be completely leaderless or companies and other organizations can one day operate without hierarchical management.
Through this decentralised economy can we control Hierarchical Management through Blockchain, because DAOstack is an ecosystem which is going to implement in the decentralized economy which can be easy to reduce the cost.
