Blockchain and Smart Contract Design: Understanding DAOs

Decentralized Autonomous Organizations (“DAOs”) are becoming increasingly common. Utilizing decentralized ledger (or blockchain) technology, agreements between multiple parties can be fully or partially automated, allowing for trustless governance and decision-making. Attorneys need to understand how these organizations work, the various corporate forms they can take, and the unique issues facing participants and organizers.

Attend this program and learn (1) What a DAO is and how it fits into blockchain technology; (2) Common reasons people form DAOs; (3) Legal structure options for DAOs; and (4) legal issues facing DAOs, their organizers, and participants.

All attorneys should have a basic understanding of DAOs like they should have a basic understanding of LLCs. In a time when people are increasingly organizing and operating primarily (or entirely) online, DAOs will become the primary means of pooling resources, allowing for trustless and transparent governance and allocation of resources.

This course is designed to provide the background and understanding of DAOs for attorneys with no understanding of blockchain technology.

Learning Objectives:

• Understand how blockchain technology and smart contract design can allow for automated and/or trustless decision-making at an organizational level
• Explore the reasons people organize as DAOs and the various options for corporate structures for those organizations based on objectives and areas of importance
• Investigate the legal issues facing organizers and participants in DAOs, including decentralized ownership of assets (including intellectual property), liability concerns for participants, anonymity concerns, and other compliance-related issues