A smart contract is a computer program that runs on a blockchain and automatically carries out agreements when certain conditions are met. It removes the need for middlemen, as the contract’s rules are written directly into the code and cannot be changed once deployed. Smart contracts are transparent, so everyone can see the terms and…

A Decentralised Autonomous Organisation, or DAO, is an organisation managed by rules encoded as computer programs on a blockchain. It operates without a central leader or traditional management, instead relying on its members to make collective decisions. Members usually use digital tokens to vote on proposals, budgets, or changes to the organisation.