DAO - Legal Structure
DAO's in the real world are gaining adoption by governments throughout the world, but there's still work to be done before it's perfect. States like Wyoming and Vermont have methods for DAOs to register as entities, but most countries in the world, including the US as a whole, don't have enough knowledge to approach regulation. This ties back to our notes in the introduction on education being essential for those who have to make decisions and build around web3.
This is an implementation that we are confident will work for the time being by giving Umbrella DAOs a way to exist in the real world and for businesses and communities to have a presence in the digital world.
The Umbrella community will be able to adjust current contract templates and add new ones in the future through governance votes. We hope to contribute to the OpenLaw standard and advance the conversation around DAOs in the real world.