Decentralized Autonomous Organizations (DAOs) are organizations run without a central authority in control. They are governed by specific rules set by their members, which are enforced in part or wholly via smart contracts. DAOs are built on open-source, public blockchains to ensure transparency in their finances and decision-making while rendering their smart contracts accessible to external audits.
https://www.investopedia.com/tech/what-dao/
https://www.coinbase.com/learn/crypto-basics/what-are-decentralized-autonomous-organizations