Specific legal problems of DAOs in the context of financing long-term and capital-intensive investments

Abstract

This chapter deals comprehensively with the legal issue of a Decentralized Autonomous Organization (DAO), which is central to the theme of the book. In general, Chapters 3 –6 analyse the practical and legal applicability of certain seemingly promising business and technological solutions offered by DLT for financing capital-intensive and long-term investments, assuming a global and cross-border nature. This primarily refers to the possibility, under the law in force at the time of submitting the book for publication, of applying company law provisions to the DAO without creating a legal risk that is significant for the project to be successful (including a detailed analysis in Chapter 6 ). In this chapter, particular attention is paid to the legal issues of “wrapping” a DAO in a company.