# Blockchain & DAO DAO is Decentralized Autonomous Organization, which contains two important features, namely decentralization and autonomy, and relies on blockchain smart contracts to achieve a decentralized operation and decision-making system, which also ensures the openness of the network with the advantage of distributed system. DAO is controlled by all stakeholders and not influenced by centralized institutions. DAO's financial transaction records and procedural rules are kept in the blockchain, and the organization achieves self-operation, self-governance and self-evolution through public management rules and the incentive of token economic model, thus achieving the maximum effectiveness of the organization and the organizational form of value flow. Bitcoin, as the first iconic application of blockchain, also represents the first practice on "decentralized autonomous organization" (DAO) in the real world. Bitcoin does not need a company, a CEO, employees, or even the endorsement and support of any sovereign institution, and has become a multi-trillion dollar market cap value organization, leading a new round of ideological and technological revolution, making digital assets a globalized and trusted asset. tens of thousands of developers on other blockchains such as ETH, Doge, Tron, BSC, etc. are even spontaneously creating their own their own value and make products that change the world. We believe that the most successful organizations in the future will no longer be companies, but DAOs, and that the greatest innovations and advances in the future will not be found in Web 2.0 companies, but in DAOs. everyone has the right to create and join DAOs in the future, because your value can be completely defined by yourself. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://whitepaper.venus.vip/project-background/blockchain-and-dao.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.