DOrg LLC Purports to be First Legally Valid DAO Under US Law

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DOrg LLC Purports to be First Legally Valid DAO Under US LawDecentralized Autonomous Organization (DAO) developer cooperative dOrg has created a limited liability company (LLC) to grant its native DAO legal status, according to a report by independent law firm Gravel & Shea on June 11. As its name implies, a DAO is a firm with no centralization or hierarchy, and is instead governed by open source digital rules on a blockchain — a smart contract — and operated publicly by users via a consensus voting mechanism. According to Gravel & Shea, the native DAO of dOrg, underpinned by the DAOstack framework, is now the first legally established entity of its kind in the United States.


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