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An idea long entertained by the crypto community, DAOs aim to create inclusive, fully formed businesses without hierarchical management.
This article is a law and regulatory focused missive on Distributed Autonomous Organizations (“
DAO” or “
DAOs”). I want to be clear that we are big fans of these structures and believe that they will have a major impact on our society because they can fundamentally alter how businesses are formed and run.
That said, there are certainly a lot of risks and pitfalls associated with DAOs as they are currently conceptualized and utilized. This article identifies some of these issues and offers a little insight into how they might be dealt with. Accordingly, this article may seem bearish on DAOs, but that is simply because of the size of the risks involved. Also please note that this article does not address any of the issues associated with raising capital, either traditionally or