Ethereum allows you to create consolidated applications, called decentralized applications. A decentralized application is called a Dapp (also spelled DAPP, App, or DApp) for short.
Decentralized Autonomous Organizations (DAOs)
Ethereum allows you to create these for democratic decision-making. DAOs tackle an age-old problem of governance, which political scientists and economists refer to as the principal-agent dilemma. This occurs when the agent of an organization has the power to make decisions on behalf of, or impacting, the principal - another person or entity in the organization.
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