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Right, but all of this is orthogonal to the law. If you want a company that's run using a DAO, you can have one. If your smart contract doesn't contain stipulat
by adhesive_wombat 5y ago
Right, but all of this is orthogonal to the law. If you want a company that's run using a DAO, you can have one. If your smart contract doesn't contain stipulations disallowed in contact law, you can use it. Stealing and fraud is always illegal, regardless of the vehicle used, and still applies even if there isn't a legal contract. Sure, the police don't know enough to do a good job, but that doesn't make hacking and theft legal, just likelier to be gotten away with then a bank robbery.
Of course, few people actually use crypto as an adjunct to legal system: some specifically don't want the legal processes (and protections) to kick in, and some just want to have used pure crypto for it's own sake even when a existing systems would have sufficed.