Decentralized Autonomous Organizations in the System of Modern law: Towards the Problem Statement

Abstract

The paper examines the issues of adaptability of legal structures to the needs of the digital economy from the angle of analyzing the status of decentralized autonomous organizations. It reveals key trends in the development of blockchain technologies, reveals deep systemic connections between the needs and instrumental © Сидоренко Э. Л., 2024capabilities of civil law in the digital age. The refrain in the article is the idea that the digital economy throws new challenges to the legislator and generates previously unknown forms of business process organization, to which the law simply does not have time to respond, and it is forced to look for new methodological solutions. One such solution is to regulate the status of decentralized autonomous organizations (DAO) as an alternative to traditional corporations. Among the legally significant signs of DAO, the nature of the interaction of participants based on a distributed registry system, the absence of a single management body, automated execution of decisions, etc. is noted. Based on the concept of functional equivalence, the author examines the existing models of DAO legal regulation and highlights their common legal properties, which in the future allow us to propose a universal matrix of regulation of decentralized societies. The paper also evaluates the prospects for the «implantation» of DAO into the Russian legal field and draws conclusions about the instrumental and conceptual inability of civil law to offer a legal matrix of DAO that meets modern economic and digital demands.