A Decentralized Autonomous Cooperative (DAC) is a type of organization in the cryptocurrency space that operates using decentralized systems and blockchain technology. DACs are run by a set of rules encoded as computer programs, rather than by a centralized authority or management structure.
In a DAC, decisions about how the organization operates, including how it generates revenue and distributes it to members, are made through consensus on the blockchain. Members of a DAC have an equal say in these decisions and can vote on proposals using their tokens or cryptocurrency holdings.
DACs have the potential to offer a more democratic and decentralized alternative to traditional business models. By removing the need for intermediaries, they can provide greater transparency, security, and accountability, as well as lower barriers to entry for members. DACs are often used in the cryptocurrency space for projects such as fundraising, product development, and community-driven initiatives.