Digital Currency

By Othman Darwish Decentralize Autonomous Organization  (DAO) is computer program that  called smart contract , which  acts as rule set for those organization ,the program code "smart contract" is hosted and run inside blockchain , when transacting a smart contract  , a mutable records logged inside blockchain . One of most challenges for  DAO's is its legal status , the form and the structure of the DAO that will be built on it ,it is general partnership ,  unincorporated associations, or corporation , and if it corporation what the type and the structure of that corporation that limit its members or participants liabilities . DAO promoted as self-organization entity, in a way that the human involvements is limited or not needed at all, is that really true? does DAO going to operate only in virtual world? if not, what about physical world interaction?   How are the legal relationships going to be formalized by contracts and enforced by ...

By Othman Darwish Existing Contract law was designed many years ago to serve fundamentally our physical tangible world, in the era of information technology, and speed of light technological advancements, existing contract cannot be used in efficient manner   to achieve it purpose, regulators and courts are struggling to diminishing the differences between paper-based contracts and electronic equivalent contracts , looking to minimize changes to their body of law ,principles and frameworks, businesses   draft those contract in a manner that heavily favors the drafter   ( the business ) ,they aim to execute a transactions with consumers in a simple and fast method ,meanwhile they are always ahead of the consumers and know how to cover their rights in   those   drafted contracts ,   such a contract often contain numerous details provisions that many   consumers not read it or misunderstand it , as a result , the meeting of minds to the...