A decentralized Autonomous organization (DAO) dOrg on the basis of the framework DAOstack registered company dOrg LLC in Vermont, USA. This was the first precedent in the United States, according to the law firm Gravel & Shea.
According to the company, the limited liability company on the basis of the blockchain (BBLLC) is a legal status that allows it to conclude agreements and to protect the interests of the parties in accordance with applicable law.
Note that TAO is the company where Central management and hierarchy is replaced by a smart contract. Decisions in such organizations are accepted by the voting members, provides a consensus.
«We are confident that dOrg is the first firm that formally indicated the code of the blockchain as a guide. All financial transactions and the exchange of shares occur oncein», — said special legal adviser at Gravel & Shea Oliver Goodenow.
In dOrg believe you have made the first step in the integration of format TAO in the existing economy.
We will remind, earlier the Tao of Moloch drew 1000 ETH from Vitalik Buterin, Joseph Lubin, ConsenSys startup and non-profit organizations Ethereum Foundation.
Taking into account the previously collected funds, the total funding Moloch rose to $1 million