Thoughts on the Legal Personality of Decentralized Autonomous Organizations——Legislative Practices,Rule Construction,and China's Response
Decentralized Autonomous Organizations(DAOs)have the potential to revolutionize modem organizational structures.To safeguard the rights of participants,it is necessary to clarify the subjectivity of DAOs by reflecting on their intrinsic structure,legal characteristics,and legislative practices.DAOs are composed of a triad of capital,narrative,and technology,along with their interrelations.Under this structure,the legal subjectivity of DAOs exhibits characteristics that are difficult to reconcile with existing legal frameworks,inadequate protection for participants,and uneven distribution of rights and obligations.In practice,various countries often treat DAOs as limited liability companies,while new forms are also emerging.Starting from the essential structure of DAOs,they should be recognized as a new type of legal entity,and corresponding rules should be established regarding the acquisition of DAO legal personality,the allocation of rights and obligations of DAOs and their members,and the responsibility assumed by DAOs and their members.In response to the legal challenges faced by the development of DAOs in our country,it is necessary to further clarify their legal subjectivity,use digital RMB to promote the development of DAOs,and innovate legal or policy approaches in pilot cities.
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