Inside Web3 💎 | Legal frameworks of decentralization
Inside Web3 💎 | Legal frameworks of decentralization
Logbook of a Web3 builder: News, resources, fundraising, and learnings - every week.
Hello everyone 👋
I hope you are doing well today :)
This week, I present the edition with the new format I detailed in the previous mail sent a few minutes ago (Inside Web3 💎 | Update of the edition format). I would love to hear your thoughts on this new edition format. I've added a poll button at the end of the edition. Don't hesitate to share your honest opinion.
In this week's edition, we will focus on the legal frameworks of decentralized projects. I spent the week talking to decentralized or "sufficiently" decentralized Web3 projects as well as Web3 law firms. I've learned some interesting things that I'm sharing with you today.
Inside Web3 💎 | Legal frameworks of decentralization
🗞 Web3 News
💼 Web3 Entrepreneurial Resources
🏦 Web3 Fundraising
📓 The Week's Log: Legal frameworks of decentralization
🗞 Web3 News
💳 Blockchain.com and Visa will launch a crypto debit card
The card will allow U.S. residents to pay using their crypto or cash balance wherever Visa is accepted. Users will earn 1% crypto cashback and won’t have to pay annual or transaction fees. 50.000 people have already signed onto a waiting list
💎 Google announced the launch of a service for Ethereum devs
Blockchain Node Engine is a fully managed tool for Ethereum projects. The solution will actively monitor the nodes and restart them in case of malfunction, so customers don’t need to hire DevOps teams for the job
🌳 Filecoin launches Web3 data-storage solution for carbon offsets
The popular decentralized digital storage cryptocurrency has launched a Web3 data-storage solution for carbon offsets. With this, Filecoin aims to improve traditional storage solutions for digital environmental assets and reduce its own environmental impact.
📈 Reddit Users Open 2.5 Million Crypto Wallets After Launch of NFT Marketplace
CoinDesk reports that the popular social platform’s NFT marketplace has gained traction, with an astounding 2.5 million new wallets created since the marketplace launched in July.
💬 Telegram launched a username auction on the TON blockchain
The app plans to auction off rare user handles. Four- and five-letter handles will be the first to be sold for 10k Toncoin. Individual Telegram users will be able to sell their usernames across several marketplaces
💼 Web3 Entrepreneurial Resources
🔮 Building Brands in Web3
Brands have always lived in the space between a product and a customer. What’s really changed in Web3?
🤖 Web3 & No-Code
For much of 2021, “no-code” and “creator economy” were the hot buzzwords of the venture world. Today, they’ve been supplanted by a new buzzword that’s taken the world by storm… “web3”.
👥 Decentralized Identity In Web3.0
In our daily life, we frequently interact with different identities, such as email addresses, social media accounts, passports, and more.
🏦 Web3 Fundraising
NEAR Foundation announces $40M grant to prevent the USN coin collapse
Hong Kong fintech raises $40M to build infrastructure for Web3 payments
Mara raises $23M to launch an African crypto wallet service
Oasys Blockchain raises $20M to launch a main-net
📓 The Week's Log: Legal frameworks of decentralization
This week, I spoke with a dozen decentralized or "sufficiently decentralized" projects and several web3 law firms. I wanted to understand how the decentralized structures worked and within what legal framework they operated. How can they justify the decentralized nature of their project while having a core team working full-time to bring the project to life (at least in the short term)? While having a website owned by a person or an entity? while having a business model?
It's awesome to see how we can reinvent how a "company" works so that its governance & profits are better distributed and its operation is completely decentralized. When I studied the functioning of these new types of structures, I thought that our society could be completely reinvented to function in a decentralized way with shared governance. The society could function as one of its decentralized structures, with a model based on sharing but backed by blockchain technology to avoid drift. It may be a bit utopian, but I can tell you that studying decentralized models that work well puts many things into question.
Several learnings from these calls & meetings
1 - Legally, there is always a solution.
Finding the best way to transcribe your system into an optimal legal framework is always the question. I can tell you that from the moment there is tokenization, there is very often a dissociation between the core team (and its potential moral entity) and the project & its decentralized treasury (of tokens).
This is done by linking several moral entities that communicate with each other. It is then necessary to find which "entity" can represent which "segment". For example, in the context of a decentralized token treasury, it is very rare to associate it with a for-profit entity. It is often linked to an association - in a jurisdiction that recognizes them.
2 - "Sufficiently" decentralized
This is a word I discovered this week ( sufficiently ). A decentralized project is built over time. A particular team often initiates it. This team has full control at the beginning but will decentralize the project, its governance, and its operation. In this sense, it is necessary to start from a simple legal framework connected to the current reality (the existing) but which projects itself on the finality of the project (the final vision of what is built).
3 - Reinventing corporate governance
Blockchain & tokenization make possible new forms of shared governance that we have never really been able to implement because of the risk of drift, lack of transparency, and security. This technology provides a solution to these concerns. Technologically, it is now possible to create a true democracy. It doesn't mean that it's a solution to all our problems… Perhaps this slows down its development the most in the face of the drastic changes it could have in our society, especially for the elites.
Anyway, stay tuned, I will share with you how Mobula operates decentralized
once the last details are processed. Thank you for reading!