The concept of DACs or DAOs has interested me since I encountered the topic doing research for a previous project working towards giving creatives the necessary tools to conduct their business on their own terms and without having value syphoned by intermediaries. The nature of the firm is changing with Coasean costs becoming less costly due to improving communication technologies. The idea of having an autonomous project operating like a ship at sea with a circulating crew is quite interesting.
Since I have been working with Mattereum, whose goal is to build the necessary bridge between our software systems and the legal systems which govern property rights and commerce, I have been more aware of just how isolated many blockchain platforms or Dapps are from the material world.
So I would like to pose a question: is there any work or research being done on how a Colony DAO could have a legal entity that embodies it for the purposes of conducting commerce or joint ventures involving the material world? For example, an art collective Colony creates 3D designs that are then represented and traded in some sort of NFT framework. They would like to partner with a 3D printing lab to manifest their art in the real world as sculptures or miniatures for sale. How could the two entities create this commercial agreement if the art group DAO only exists via software? Dispute resolution conducted within the Colony ecosystem is one thing but becomes tricky when the contractual parties are operating in fundamentally different worlds.
One way to bridge these two worlds is to have legally enforceable smart contracts. Perhaps Ricardian contracts could be implemented for each Colony. Ricardian constitutions are an extension of this concept into community building. Everyone who enters the community signs the constitution, and a hash of that event is forever associated with that individual. If a particular Colony has certain rules and values outside of the core mechanics of the underlying DAO platform, those could be enforced using hybrid prose/software contracts.
Ultimately, I am interested in these autonomous systems working in the real world where they could do some good for our communities and our commercial and creative endeavors. I am interested in the legal and software engineering that would be needed for this to happen.
Giving DAOs a legal “suit” to where on occasion can enable commerce in novel ways.
Can the DAO become a legal-technical amphibian? Just curious is this has been discussed in the Colony community.