scholarly journals The Seconomics (Security-Economics) Vulnerabilities of Decentralized Autonomous Organizations

Author(s):  
Fabio Massacci ◽  
Chan Nam Ngo ◽  
Jing Nie ◽  
Daniele Venturi ◽  
Julian Williams
2021 ◽  
Vol 54 (5) ◽  
pp. 1-34
Author(s):  
Vimal Dwivedi ◽  
Vishwajeet Pattanaik ◽  
Vipin Deval ◽  
Abhishek Dixit ◽  
Alex Norta ◽  
...  

Smart contracts are a key component of today’s blockchains. They are critical in controlling decentralized autonomous organizations (DAO). However, smart contracts are not yet legally binding nor enforceable; this makes it difficult for businesses to adopt the DAO paradigm. Therefore, this study reviews existing Smart Contract Languages (SCL) and identifies properties that are critical to any future SCL for drafting legally binding contracts. This is achieved by conducting a Systematic Literature Review (SLR) of white- and grey literature published between 2015 and 2019. Using the SLR methodology, 45 Selected and 28 Supporting Studies detailing 45 state-of-the-art SCLs are selected. Finally, 10 SCL properties that enable legally compliant DAOs are discovered, and specifications for developing SCLs are explored.


2021 ◽  
Vol 118 ◽  
pp. 04012
Author(s):  
Elena Viktorovna Oleynik ◽  
Olga Mikhailovna Shevchenko

The purpose of the study is to analyze the provisions of the novelties of the Russian legislation on digital financial assets and digital currency. The methodological basis was the method of comparative legal analysis, using which the authors identify general patterns and features of the legal status of Russian digital joint-stock companies and decentralized autonomous organizations widely discussed in foreign literature. The results of the study were conclusions about the significant differences between the above organizations. A company issuing digital shares, under Russian law, differs from an ordinary non-public joint stock company by limiting the circulation of digital shares within the framework of a digital platform. Unlike the decentralized autonomous organization, it has legal entity and governing bodies. It was also concluded that there is a significantly greater variety of rights of holders of foreign token-shares in comparison with the rights of shareholders of Russian digital joint stock companies. The novelty of the research is contained in the results of the analysis and doctrinal interpretation of the norms of Russian federal laws concerning digital shares. So, in particular, it was established that such are recognized at the same time as securities and digital rights. Such a legal structure appears to be unnecessarily complex. According to Russian law, digital shares differ from ordinary shares in the form of certification of shareholders “rights, while no differences have been revealed in the scope of shareholders” rights.


2021 ◽  
Author(s):  
Kelly L. Page ◽  
Adel Elmessiry

The latest trend in Blockchain formation is to utilize decentralized autonomous organizations (DAO) in many verticals. To date, little attention has been given to address the global research domain due to the difficulty in creating a comprehensive framework that can marry the cutting edge of academic grade scientific research with a decentralized governance body of researchers. A global research decentralized autonomous organization (GR-DAO) would have a profound impact on the research community academically, commercially, and the public good. In this paper, we propose the GR-DAO as a global community of researchers committed to collectively creating knowledge and sharing it with the world. Scientific research is the means for knowledge creation and learning. The GR-DAO provides the guidance, community and technological solutions for the evolution of a global research infrastructure and environment. Through its design, the GR-DAO embraces, enhances and extends the model of research, research on decentralization and DAO as a model for decentralised and autonomous organizing. This design, in turn, improves most of the uses for and applications of research for the greater good of society. The paper examines the core motivation, purpose and design of the GR-DAO, its strategy to embrace, enhance and extend the research ecosystem, and the GR-DAO design uses across the DAO ecosystem


2019 ◽  
Vol 24 (4) ◽  
pp. 397-417 ◽  
Author(s):  
Olivier Rikken ◽  
Marijn Janssen ◽  
Zenlin Kwee

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