The governance is spelled out

A bill has passed the Senate that will recognize Decentralized Autonomous Organizations (DAOs) as companies. It now heads to the House of Representatives.

If approved, this would be enormous. Effectively, this would make Smart Contracts responsible entities as opposed to companies where centralized control is under one person. The decentralized nature of DAOs make then hard to deal with in the present legal framework.

Also, it would go a long way of establishing "Code as Law". This would validate Smart Contracts as legally binding. The way the court system works is, as more lawsuits are ruled upon, the prior cases end up establishing precedence. This becomes part of the legal domain. Other attorneys use previous cases as support for their existing arguments.

Ultimately, it is not really the law that is the law but, rather, the interpretation of said law through different lawsuits filed over a long period of time.

What is so powerful about this bill is that is also sets the path to changing the business structure, at least in the State of Wyoming. At present, the common business entity is the corporation, which operates from a governance model that is established in the Articles of Incorporation. This creates the framework for the organization in terms of control. In other words, it spells out what humans are responsible for what.

A DAO does not operate under this premise. The governance is spelled out in the coding in the Smart Contract, removing humans from the process. When situation arise, the exercise by individuals is done according to what is laid out in the code.

A bill has passed the Senate that will recognize Decentralized Autonomous Organizations (DAOs) as companies. It now heads to the House of Representatives.

If approved, this would be enormous. Effectively, this would make Smart Contracts responsible entities as opposed to companies where centralized control is under one person. The decentralized nature of DAOs make then hard to deal with in the present legal framework.

Also, it would go a long way of establishing "Code as Law". This would validate Smart Contracts as legally binding. The way the court system works is, as more lawsuits are ruled upon, the prior cases end up establishing precedence. This becomes part of the legal domain. Other attorneys use previous cases as support for their existing arguments.

Ultimately, it is not really the law that is the law but, rather, the interpretation of said law through different lawsuits filed over a long period of time.

What is so powerful about this bill is that is also sets the path to changing the business structure, at least in the State of Wyoming. At present, the common business entity is the corporation, which operates from a governance model that is established in the Articles of Incorporation. This creates the framework for the organization in terms of control. In other words, it spells out what humans are responsible for what.

A DAO does not operate under this premise. The governance is spelled out in the coding in the Smart Contract, removing humans from the process. When situation arise, the exercise by individuals is done according to what is laid out in the code.

A bill has passed the Senate that will recognize Decentralized Autonomous Organizations (DAOs) as companies. It now heads to the House of Representatives.

If approved, this would be enormous. Effectively, this would make Smart Contracts responsible entities as opposed to companies where centralized control is under one person. The decentralized nature of DAOs make then hard to deal with in the present legal framework.

Also, it would go a long way of establishing "Code as Law". This would validate Smart Contracts as legally binding. The way the court system works is, as more lawsuits are ruled upon, the prior cases end up establishing precedence. This becomes part of the legal domain. Other attorneys use previous cases as support for their existing arguments.

Ultimately, it is not really the law that is the law but, rather, the interpretation of said law through different lawsuits filed over a long period of time.

What is so powerful about this bill is that is also sets the path to changing the business structure, at least in the State of Wyoming. At present, the common business entity is the corporation, which operates from a governance model that is established in the Articles of Incorporation. This creates the framework for the organization in terms of control. In other words, it spells out what humans are responsible for what.

A DAO does not operate under this premise. The governance is spelled out in the coding in the Smart Contract, removing humans from the process. When situation arise, the exercise by individuals is done according to what is laid out in the code.

A bill has passed the Senate that will recognize Decentralized Autonomous Organizations (DAOs) as companies. It now heads to the House of Representatives.

If approved, this would be enormous. Effectively, this would make Smart Contracts responsible entities as opposed to companies where centralized control is under one person. The decentralized nature of DAOs make then hard to deal with in the present legal framework.

Also, it would go a long way of establishing "Code as Law". This would validate Smart Contracts as legally binding. The way the court system works is, as more lawsuits are ruled upon, the prior cases end up establishing precedence. This becomes part of the legal domain. Other attorneys use previous cases as support for their existing arguments.

Ultimately, it is not really the law that is the law but, rather, the interpretation of said law through different lawsuits filed over a long period of time.

What is so powerful about this bill is that is also sets the path to changing the business structure, at least in the State of Wyoming. At present, the common business entity is the corporation, which operates from a governance model that is established in the Articles of Incorporation. This creates the framework for the organization in terms of control. In other words, it spells out what humans are responsible for what.

A DAO does not operate under this premise. The governance is spelled out in the coding in the Smart Contract, removing humans from the process. When situation arise, the exercise by individuals is done according to what is laid out in the code.

A bill has passed the Senate that will recognize Decentralized Autonomous Organizations (DAOs) as companies. It now heads to the House of Representatives.

If approved, this would be enormous. Effectively, this would make Smart Contracts responsible entities as opposed to companies where centralized control is under one person. The decentralized nature of DAOs make then hard to deal with in the present legal framework.

Also, it would go a long way of establishing "Code as Law". This would validate Smart Contracts as legally binding. The way the court system works is, as more lawsuits are ruled upon, the prior cases end up establishing precedence. This becomes part of the legal domain. Other attorneys use previous cases as support for their existing arguments.

Ultimately, it is not really the law that is the law but, rather, the interpretation of said law through different lawsuits filed over a long period of time.

What is so powerful about this bill is that is also sets the path to changing the business structure, at least in the State of Wyoming. At present, the common business entity is the corporation, which operates from a governance model that is established in the Articles of Incorporation. This creates the framework for the organization in terms of control. In other words, it spells out what humans are responsible for what.

A DAO does not operate under this premise. The governance is spelled out in the coding in the Smart Contract, removing humans from the process. When situation arise, the exercise by individuals is done according to what is laid out in the code.

A bill has passed the Senate that will recognize Decentralized Autonomous Organizations (DAOs) as companies. It now heads to the House of Representatives.

If approved, this would be enormous. Effectively, this would make Smart Contracts responsible entities as opposed to companies where centralized control is under one person. The decentralized nature of DAOs make then hard to deal with in the present legal framework.

Also, it would go a long way of establishing "Code as Law". This would validate Smart Contracts as legally binding. The way the court system works is, as more lawsuits are ruled upon, the prior cases end up establishing precedence. This becomes part of the legal domain. Other attorneys use previous cases as support for their existing arguments.

Ultimately, it is not really the law that is the law but, rather, the interpretation of said law through different lawsuits filed over a long period of time.

What is so powerful about this bill is that is also sets the path to changing the business structure, at least in the State of Wyoming. At present, the common business entity is the corporation, which operates from a governance model that is established in the Articles of Incorporation. This creates the framework for the organization in terms of control. In other words, it spells out what humans are responsible for what.

A DAO does not operate under this premise. The governance is spelled out in the coding in the Smart Contract, removing humans from the process. When situation arise, the exercise by individuals is done according to what is laid out in the code.

A bill has passed the Senate that will recognize Decentralized Autonomous Organizations (DAOs) as companies. It now heads to the House of Representatives.

If approved, this would be enormous. Effectively, this would make Smart Contracts responsible entities as opposed to companies where centralized control is under one person. The decentralized nature of DAOs make then hard to deal with in the present legal framework.

Also, it would go a long way of establishing "Code as Law". This would validate Smart Contracts as legally binding. The way the court system works is, as more lawsuits are ruled upon, the prior cases end up establishing precedence. This becomes part of the legal domain. Other attorneys use previous cases as support for their existing arguments.

Ultimately, it is not really the law that is the law but, rather, the interpretation of said law through different lawsuits filed over a long period of time.

What is so powerful about this bill is that is also sets the path to changing the business structure, at least in the State of Wyoming. At present, the common business entity is the corporation, which operates from a governance model that is established in the Articles of Incorporation. This creates the framework for the organization in terms of control. In other words, it spells out what humans are responsible for what.

A DAO does not operate under this premise. The governance is spelled out in the coding in the Smart Contract, removing humans from the process. When situation arise, the exercise by individuals is done according to what is laid out in the code.

A bill has passed the Senate that will recognize Decentralized Autonomous Organizations (DAOs) as companies. It now heads to the House of Representatives.

If approved, this would be enormous. Effectively, this would make Smart Contracts responsible entities as opposed to companies where centralized control is under one person. The decentralized nature of DAOs make then hard to deal with in the present legal framework.

Also, it would go a long way of establishing "Code as Law". This would validate Smart Contracts as legally binding. The way the court system works is, as more lawsuits are ruled upon, the prior cases end up establishing precedence. This becomes part of the legal domain. Other attorneys use previous cases as support for their existing arguments.

Ultimately, it is not really the law that is the law but, rather, the interpretation of said law through different lawsuits filed over a long period of time.

What is so powerful about this bill is that is also sets the path to changing the business structure, at least in the State of Wyoming. At present, the common business entity is the corporation, which operates from a governance model that is established in the Articles of Incorporation. This creates the framework for the organization in terms of control. In other words, it spells out what humans are responsible for what.

A DAO does not operate under this premise. The governance is spelled out in the coding in the Smart Contract, removing humans from the process. When situation arise, the exercise by individuals is done according to what is laid out in the code.

A bill has passed the Senate that will recognize Decentralized Autonomous Organizations (DAOs) as companies. It now heads to the House of Representatives.

If approved, this would be enormous. Effectively, this would make Smart Contracts responsible entities as opposed to companies where centralized control is under one person. The decentralized nature of DAOs make then hard to deal with in the present legal framework.

Also, it would go a long way of establishing "Code as Law". This would validate Smart Contracts as legally binding. The way the court system works is, as more lawsuits are ruled upon, the prior cases end up establishing precedence. This becomes part of the legal domain. Other attorneys use previous cases as support for their existing arguments.

Ultimately, it is not really the law that is the law but, rather, the interpretation of said law through different lawsuits filed over a long period of time.

What is so powerful about this bill is that is also sets the path to changing the business structure, at least in the State of Wyoming. At present, the common business entity is the corporation, which operates from a governance model that is established in the Articles of Incorporation. This creates the framework for the organization in terms of control. In other words, it spells out what humans are responsible for what.

A DAO does not operate under this premise. The governance is spelled out in the coding in the Smart Contract, removing humans from the process. When situation arise, the exercise by individuals is done according to what is laid out in the code.

A bill has passed the Senate that will recognize Decentralized Autonomous Organizations (DAOs) as companies. It now heads to the House of Representatives.

If approved, this would be enormous. Effectively, this would make Smart Contracts responsible entities as opposed to companies where centralized control is under one person. The decentralized nature of DAOs make then hard to deal with in the present legal framework.

Also, it would go a long way of establishing "Code as Law". This would validate Smart Contracts as legally binding. The way the court system works is, as more lawsuits are ruled upon, the prior cases end up establishing precedence. This becomes part of the legal domain. Other attorneys use previous cases as support for their existing arguments.

Ultimately, it is not really the law that is the law but, rather, the interpretation of said law through different lawsuits filed over a long period of time.

What is so powerful about this bill is that is also sets the path to changing the business structure, at least in the State of Wyoming. At present, the common business entity is the corporation, which operates from a governance model that is established in the Articles of Incorporation. This creates the framework for the organization in terms of control. In other words, it spells out what humans are responsible for what.

A DAO does not operate under this premise. The governance is spelled out in the coding in the Smart Contract, removing humans from the process. When situation arise, the exercise by individuals is done according to what is laid out in the code.

A bill has passed the Senate that will recognize Decentralized Autonomous Organizations (DAOs) as companies. It now heads to the House of Representatives.

If approved, this would be enormous. Effectively, this would make Smart Contracts responsible entities as opposed to companies where centralized control is under one person. The decentralized nature of DAOs make then hard to deal with in the present legal framework.

Also, it would go a long way of establishing "Code as Law". This would validate Smart Contracts as legally binding. The way the court system works is, as more lawsuits are ruled upon, the prior cases end up establishing precedence. This becomes part of the legal domain. Other attorneys use previous cases as support for their existing arguments.

Ultimately, it is not really the law that is the law but, rather, the interpretation of said law through different lawsuits filed over a long period of time.

What is so powerful about this bill is that is also sets the path to changing the business structure, at least in the State of Wyoming. At present, the common business entity is the corporation, which operates from a governance model that is established in the Articles of Incorporation. This creates the framework for the organization in terms of control. In other words, it spells out what humans are responsible for what.

A DAO does not operate under this premise. The governance is spelled out in the coding in the Smart Contract, removing humans from the process. When situation arise, the exercise by individuals is done according to what is laid out in the code.