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Republic of the Marshall Islands
Marshall Islands Looks to Become Global Hub for DAO Incorporations
Deep in the Pacific Ocean lies a sprawling chain of volcanic islands, the Marshall Islands, that is looking to grant DAOs the same privileges as limited liability corporations. But why do DAOs need to become registered as corporations? Adam Miller, co-founder of a local organization MIDAO, explains two reasons: legal personhood and limited liability. He joins "All About ETH" live from Ethereum Denver 2022 to discuss why the Marshall Islands, the issues with Wyoming's LLC law and the future of DAOs.
Can DAOs Be Recognized as Legal Entities? Only in the Marshall Islands
The Republic of the Marshall Islands has recognized decentralized autonomous organizations (DAOs) as legal entities, becoming the first sovereign nation to do so. The law essentially grants DAOs the same privileges as limited liability corporations (LLCs). "The Hash" hosts unpack whether this move is good for DAOs and what it means for a DAO to transition into an LLC.