The Metaverse Podcast

DAOs as the Perfect Expression of Private Ordering of Wealth, with Aaron Wright of OpenLaw

December 9, 2020

Aaron is a law professor, serial founder and CEO of Open Law, the project behind The LAO (Legal Autonomous Organisation) which pioneered a DAO with a ‘legal wrapper’ to reduce and manage liability and risk for operators. The LAO now functions as an investment vehicle for several prominent Web 3 Founders, as well as advisors to the Moloch and Flamingo DAOs.

He describes applying open source principles to legal contracting, machine readable ricardian smart contracts, the extent to which ‘code is law’, as well as considerations around arbitration and jurisdiction selection, and how he believes DAOs are the perfect expression of an intermediary light private ordering of wealth, and more than that, improved systems to collectively process and respond to information.              

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