Unlock the Potential of DAOs

Policymakers should establish a clear framework for DAOs to participate fully in the economy and create space for this new cooperation mechanism to flourish. Despite their benefits, there is currently no clear path for DAOs to perform three basic functions of an organization: enter into legal contracts, benefit from limited liability, and pay taxes. Many of the potential solutions to these challenges are relatively simple.

Why the contribution is important

The corporation was the default mode of organizing human activity in the private sector over the course of the 20th century. DAOs (decentralized autonomous organizations) may become the default mechanism for facilitating collaboration in the 21st. DAOs enable individuals to collaborate, manage projects, own assets, invest, and operate like a traditional organization, but they can provide far greater levels of transparency, openness, and democratic governance.

NZ will be left behind by other jurisdictions if we fail to grasp the Web 3 opportunity, for example refer - https://a16z.com/wp-content/uploads/2021/10/How-to-Win-the-Future-1.pdf

 

by andyhiggs on October 25, 2021 at 12:07PM

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