search

ethereum-funding / blockrewardsfunding

Project Management is happening in this repo, see the Issues! This is a fork of ethereum/eips.
18 stars 3 forks source link

real world legal structure needed? #30

Open owocki opened 5 years ago

owocki commented 5 years ago

Think about if crypto blows up and the decision makers get sued. Regardless of how crazy it sounds.

ghost commented 5 years ago

Back in the day Palley argued that DAOs and multisigs could be treated as general partnerships https://www.coindesk.com/how-to-sue-a-decentralized-autonomous-organization.

lrettig commented 5 years ago

Well, you could turn this around: a DAO cannot be sued. Its "directors" or keyholders can, in theory, but there is a question of jurisdiction, if the DAO does not exist in any specific jurisdiction. This may also be a very strong argument for severely restricting what the keyholders can do. Honestly this is a deep, dark rabbit hole which is basically Szabo vs. Zamfir all over again.

owocki commented 5 years ago

talked to some lawyers at consensys. they recommend setting up a real world legal structure for this. specifically usign the EF legal structure of working with berkley to do some pro bono work to set up a seperate entity. i can get us intros if needed.

bmann commented 5 years ago

If funds get sent directly from miners to project addresses, this may alleviate some of the need. So this is highly implementation specific.

If a coordinating entity is needed for meta support and communication, you could make an Open Collective project in either the US or EU, or even have the Linux Foundation’s new CommunityBridge structure https://www.linuxfoundation.org/press-release/2019/03/the-linux-foundation-launches-new-communitybridge-platform-to-help-sustain-open-source-communities/

All in all — avoid creating a legal structure until you know you need one. The Linux Foundation might more broadly be willing to host this.

lrettig commented 5 years ago

avoid creating a legal structure until you know you need one

Agree with this approach. I'm not opposed to a legal structure but I think it would be a mistake to work on this first. Let's finalize our proposal, get our message together, listen to the community, etc. for now.