Decentralized Autonomous Organizations – Internal Governance and External Legal Design
Wulf A. Kaal · 2020
Most of the applications and uses of digital assets are improved and expanded with well-functioning and well-governed DAOs. The article evaluates the technical and internal governance solutions promulgated by DAO projects. Particular emphasis is placed on the duality of feedback effects between internal DOA governance and external DAO legal designs. Key Words: Decentralized Autonomous Organization, Governance, Legal Design, Digital Assets, Decentralized Finance, Blockchain, Start-up, Decentralized Commerce, Emerging Technology, Token Models, Incentive Design, Tokens, Distributed Ledger Technology, Decentralized Infrastructure, Reputation Staking JEL Categories: K20, K23, K32, L43, L5, O31, O32 ** Professor of Law, University of St. Thomas School of Law (Minneapolis, USA). The author is on the board of directors of the Emerging Technology Association in Zug, Switzerland. The author is also a founding member of the DevDAO. The author is gratefull for ongoing discussions about DAO solutions with Craig Calcaterra. The author is also grateful for outstanding research assistance from Hayley Howe and research librarian assistance from Nicole Kinn. The author did not receive any form of financial incentive for authoring this article. 1 Electronic copy available at: https://ssrn.com/abstract=3652481 DAO LEGAL CONCEPTS
Cite: Wulf A. Kaal, Decentralized Autonomous Organizations – Internal Governance and External Legal Design (2020). SSRN: https://ssrn.com/abstract=3652481. https://doi.org/10.2139/ssrn.3652481
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