Model Law for Decentralized Autonomous Organizations

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= "The DAO model law is designed as a best practice guide for DAOs and is intended to help states modernize their corporate law to accommodate the emergence of new, fully digital models of corporate organization".



"Decentralized Autonomous Organizations (DAOs) are new forms of social organizations deployed in the dematerialized environment of the blockchain. Their governance is defined by computer code (smart contracts). These entities, constituted outside the law, without legal constraints, are international by nature and cannot be attached to a specific state. The international working group COALA (Coalition of Automated Legal Applications), made up of experts from the legal and technological fields, has been working for several years to define a legal framework for DAOs. The COALA DAO Model Law, which is in its consultation phase, provides a flexible legal framework that is tailored to the particular features and needs of DAOs and their future development, while providing the necessary legal certainty for DAOs and their participants. Prof. Florence Guillaume and her assistant Sven Riva are actively participating in the development of the DAO model law, dealing in particular with aspects of private international law."