Corporate Governance + Blockchain

What is happening? Wyoming’s SF0038 (2021 | WY) created the legal framework for a new corporate structure known as decentralized autonomous organizations (DAO). Vermont and Tennessee are making similar rules.

Why is this important? DAOS are now worth $21 Billion. The company functions like this:

• it is web based
• any investor has voting rights based on the number of shares the investor buys
• normal business decisions are taken by automated digital execution
• enforced by smart contracts

How will this be important? The summarized principle behind DAOs: “Shareholders vote on everyday executive decisions made by the company, sometimes even bringing certain issues up for vote themselves. It’s a more direct form of corporatized democracy”

Governing | Can We Turn Shareholders into Public Decision-Makers?