DAO is another wonderful and an amazing technology of blockchain @danizaharie.
DAO are just the digital version where all rules and regulations are written in the source code rather than the piece of paper. They are executed by thousands of people/computers together through some consensus based algorithm. The platform where the DAO runs is called Blockchain. The most common case where the DAO can be written is Ethereum Blockchain. In Ethereum, they are generally written in solidity language. In the DAO, Each action or vote is represented by form of transaction in Blockchain.
Here the members are represented by address. These addresses can be owend by a human, a robot, an IOT device or even another DAO.
Each member is given a token which represents the shares of DAO. These tokens can also be used to vote in the DAO to take a certain decision. The token is nothing but another kind of contract sunning on top of blockchain. The more token an address has the more control hi will have on the DAO.
Thanks for sharing this informative and useful post.