The DAC (Decentralized Autonomous Corporation or Decentralized Autonomous Community) is a subclass of the DAO (Decentralized autonomous organisation) and is a community that operates using rules encoded as smart contracts.
To be more specific, a DAC is a company managed by a self-governing and autonomous group of people. These businesses are guided by rules encoded in computer programmes known as smart contracts, which are stored on the blockchain.
But what exactly is a decentralised corporation, how does it differ from a decentralised organisation, and what do Decentralized Applications have in common?

A Decentralized Autonomous Corporation (DAC) is an organization that operates without centralized control, governed by smart contracts and blockchain technology. Unlike traditional corporations, a DAC is run autonomously through code, with decision-making processes encoded into its structure. Shareholders or token holders vote on key decisions, such as business strategies or investments, through decentralized mechanisms.

DACs are designed to function independently of human managers, relying on transparent and immutable rules set within a blockchain. Profits and losses are distributed among stakeholders automatically, without intermediaries. This structure offers enhanced security, transparency, and global accessibility. However, the lack of human oversight raises concerns about accountability and governance in the event of unforeseen circumstances or technical flaws within the system.