A Study on the Legal Issues of Decentralized Autonomous Organization under the Collective Law

Abstract

The diverse potential applications of blockchain technology, or so-called universality, can actually bring fear and a sense of loss to many. This study attributes this to legal uncertainty. For example, while the experience of “The DAO” incident demonstrated the complexity and risks of distributed ledger technology (DLT) and tokens, the potential and legal implications of decentralized and decentralized organizations remain unclear. This has raised serious questions about the future. To analyze the issues, assess applicability, and explore legal directions, it is crucial to understand the technical aspects. First and foremost, it is crucial to understand and examine the structural and operational legal issues surrounding DAOS, establish their legal status, and establish legal regulations.<br/> With this understanding, this study aims to address the following key issues: von Gier) and how it can be viewed from the perspective of corporate law. ii) To conduct a broad comparative legal review, we first analyze the enactment of the DAO Act in Wyoming, USA. This will be followed by a comparative study of other representative legislative examples actively utilizing DAOS. iii) We examine effective legal regulations, including those related to operational management and legal acts, to eliminate legal uncertainties that may arise during the process of establishment, operation, and dissolution of corporations and organizations. iv) As mentioned above, we aim to structure the discussion around corporate law from a macroscopic perspective.<br/> Specific details include the rights and obligations of the parties, various situations related to compensation in the event of damages, matters related to proof of breach of rights and obligations, and the subject and scope of liability. This model also provides a framework for preparing for situations where a legislative vacuum may arise before the law is enacted.