Blockchain technology allows people to share ideas, ownership, and records like never before. Amongst many exciting applications, these functions permit users to create synergetic, democratic organisations capable of doing much more than any other unincorporated form of association.
Referred to as Decentralised Autonomous Organisations (“DAOs”), as the name suggests, by design a DAO is intended to:
1. Avoid any form of centralised establishment, control, or governance; and
2. Empower all members to freely dictate the direction of the DAO by participating in DAO governance.
In the attached pdf, I provide a ‘warts and all’ overview of Decentralised Autonomous Organisations (“DAOs”); the characteristics of a DAO, benefits, pitfalls and the options available to overcome these.
...from experience, we have found that, without access to the traditional legal world, most DAOs will struggle to properly function.
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Hassans is pleased to announce that it has once again achieved top tier rankings in all areas covered by Legal 500 EMEA for Gibraltar....
