Legal Guild Weekly
Date
Jan 27, 2022
Type
Attendance
Note-taker
Created time
Jan 27, 2022
Last edited time
Jan 27, 2022
Last edited by
Text
Welcome of new members
- Daolaw is from Germany and he conducts unique research (PHD).
- BananaChain is a German Lawyer.
- Troyso is from China and he has studied law in Singapore & UK. He practices in Hong Kong. He stated that China is going to. do NFTs on the national chain.
White Paper
- Lion917 will submit DDDDD’s today. Eagle has read and restructured the documents. The same is now almost ready to ship after final edits.
- We will be posting on the forum so that people can opine on the same.
- Hiro will begin the editing soon and he will get it done by this time next week.
- We can use the white paper on the Bankless website.
- Eagle wants to follow the Bitcoin White Paper Format. He wants to present a proper nice version to the community.
New Season
- Tax Consultancy (Lion917, TaxPanda): The contributors for the project have been finalized. The timeline for the project is being finalized.
- Podcast (Comebackkid): Unfortunately, we missed the last GC meeting and we will have the discussion on Tuesday.
Comebackkid stated that he trying to figure out that the minimum number of votes required to be considered.
Eagle stated that the podcast should pass without any issue based on his experience. People are encouraged to attend the 6 PM CET GC meeting this Tuesday.
Comebackid wants to put together a list of interviewees for the podcast so that he can start reaching out to people.
Entity Research
Forgmonkee recently decided to leave the DAO and everyone respects his decision. Frogmonkee while leaving stated that we should have a legal entity. Eagle stated we should have a legal entity for Bankless. We have the following options:
- Wyoming LLC seems like a good option.
- We can have more of an international set up instead of being US based. Hence, a legal wrapper is required to hold other sub-entities as well. Swiss Association model seems like a good option. We need three directors for the Board who are willing to show their entity. This model is not the best if anonymity of directors is most important. This can help us get a bank account in Switzerland.
- Without Legal Wrapper, DAOs can be construed as General Partnership and that’s quite dangerous.
- While responding to Banachain’s concerns, Eagle stated that the Swiss model is more like an umbrella for other entities & natural persons. There are quite a few ambiguities as well. However, we can modify the Articles of Association.
- Rotorless stated that he is not convinced with the swiss model. He said we can use the Canadian and German Co-op model. He wants to look at other models.
- Lion917 stated that there should be a research proposal prepared.
- Eagle stated that we can collaborate with other DAOs such as LexDAO as well on this.
- DAOLAW stated that he has done in-depth research on this. He offered to help as well.
- Eagle also stated we also have the Panama model which we can use. However, he believes we don’t need a harsh model as BANKLESS is not a risky DAO.
- DD expressed her concern that BanklessHQ might need to be consulted for the entity. Eagle stated that HQ generally doesn’t really interfere.
- Eagle stated that we can have a proposal posted in the forum.