Document Type
Article
Subject Area
General Law Division
Abstract
This Article explores the evolving concept of decentralized autonomous organizations (DAOs) in the context of Web3 technology. It raises critical questions about whether DAOs truly represent a step forward in limiting liability in entity governance structures or if they risk centralizing the decentralized. The text discusses the potential of DAOs to address regulatory and tax challenges while also highlighting concerns about their legitimacy and security. It compares the governance structures of traditional entities to DAOs and contemplates the reasons for formal organization pursuant to state statute. The Article further delves into some of the statutory laws in specific states recognizing and governing DAOs. Lastly, it suggests potential improvements in statutory frameworks to enhance legal predictability for DAO users and those seeking to ascribe liability.
DOI
10.59643/1942-9916.1497
Rights
Copyright © 2023 by the WYOMING LAW REVIEW unless otherwise noted. Except as otherwise provided, copies of any article may be made for classroom use, provided that: (1) Copies are distributed at or below cost; (2) The author and the journal are identified; (3) Proper notice of copyright is affixed to each copy, and (4) The WYOMING LAW REVIEW is notified of the use.
Recommended Citation
Grant, David M.; Kirby, Eric M.; and Hawkins, Steven
(2024)
"Decentralized Autonomous Organizations: To Statutorily Organize or Not?,"
Wyoming Law Review: Vol. 24:
No.
1, Article 2.
Available at:
https://scholarship.law.uwyo.edu/wlr/vol24/iss1/2
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