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Thread on undomiciled companies on the blockchain
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Why do companies need to be domiciled in countries? Presumably, in the past, because a company - who owns and runs it, who can control it and keep the cash flows - is ultimately a "fiction", which exists insofar as some legal system is willing to uphold this fiction
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Clearly we’ve moved from “first they ignore you” to “then they laugh at you” stage. I predict “then they fight you” by 2025, and “then you win” by 2030. I got one am glad to see academics like taking the potential seriously.
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I suspect Corporations Derangement Syndrome blinds people to potential here. Don’t think “evil metastasized corporations and beyond-Panama capital flight” Think freedom of association and mutualism beyond borders. Ironically an idea pioneered by religions and labor movements.
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I suspect this will probably be the greatest expansion of freedoms since the end of serfdom. If you hate capitalism this is your chance to invent an alternative model of global commerce. Financialization for everybody.
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Originally one of the main reasons corporations existed was to allow legal separation between investors in a project and management of the project. Investors for the first time weren’t liable for the actions of their investments. How does that play out in a DAO world?
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Because I can see what you’re saying about a corp-in-practice that no longer requires a corp-in-law to exist as a functional entity. But the next question is, if someone put resources into a DAO, and the DAO commits an illegal act out of their control…do they go to jail?
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