Decentralized autonomous organizations, or DAO, use blockchain-based programs and codes to implement transparent rules and give the members of the organization absolute right of control without external influences (like the government, for instance). The financial and other records are managed using blockchain technology to increase security and trust in the system. When launched, some expected DAOs to eventually be able to run automatically without human intervention. It is important to note that the legal status of such entities is not exactly clear at the moment. Furthermore, problems in giving members absolute autonomy and security issues arising due to an open code leave massive room for improvement in the system as well. Although DOAs are expected to gain prominence in the future, they are yet to demonstrate the benefits they claim many years after coming into existence.