An Autonomous DAO, or Decentralized Autonomous Organization, is a type of organization that operates through smart contracts on a blockchain. It is governed by code rather than people, enabling decisions to be made collectively by its members.Members typically hold tokens that represent voting power. Proposals for changes or initiatives can be made by anyone, and token holders vote on these proposals. Once a proposal passes, the smart contract automatically executes the agreed-upon actions.This structure promotes transparency and reduces the need for intermediaries, as all transactions and decisions are recorded and verifiable on the blockchain. Autonomous DAOs can be used for various purposes such as managing funds, creating community projects, or supporting specific initiatives.The goal of an Autonomous DAO is to create a self-sustaining organization that aligns the interests of its members while promoting decentralization and democratic governance.
Ripple, Absa Partner to Launch Digital Asset Custody in South Africa
Ripple has entered a strategic partnership with Absa Bank to provide digital asset custody services to customers in South Africa,