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Legal Engineering is the act of planning, managing, and executing methods for legal purpose. It is not legal advice, it is using tools to help make legal processes more manageable by applying digital instructions to digital artifacts.
What is a DAO
Distributed
Autonomous
Organisation
Algorithms as Law
Interface to Traditional Law
Private Law
++++++++++++++++++++++++++++++++++++++++++
Markets Maths Mechanisms
Web 3.0 Cryptoeconomics
Roles Rules Ref
Contract Compliance Complaint
Traditional Legal
Legal Interpretation
Functional Mapping
Token Mechanism
Token Properties
Closed (Membership)
Open (Security/Debt)
++++++++++++++++++++++++++++++++++++++++++
Map UCC state blockchain legislation
Identify token mechanism equivalent
Map properties to function
Functional Equivalence?
Legislative Overlay
++++++++++++++++++++++++++++++++++++++++++
Please check the errata for any errors or issues reported since publication.
Credentials are a part of our daily lives; driver's licenses are used to assert that we are capable of operating a motor vehicle, university degrees can be used to assert our level of education, and government-issued passports enable us to travel between countries. This specification provides a mechanism to express these sorts of credentials on the Web in a way that is cryptographically secure, privacy respecting, and machine-verifiable.
=================
For those unfamiliar with the concepts related to verifiable credentials, the following sections provide an overview of:
The components that constitute a verifiable credential
The components that constitute a verifiable presentation
An ecosystem where verifiable credentials and verifiable presentations are expected to be useful
The use cases and requirements that informed this specificat
Member tokens
Capital tokens
Goodwill tokens
Utility tokens
Fungible tokens
...
Tokens:
Are they going to be swappable and interchangeable?
Are their tied to and event or identiity?
Can they be used as contrinution to wards consideration of good-will? legal services? medical advice? appraisals?
Trust Law
Most legal claims fall into three categories:
tort law, the USC or state codes, the UCC or trust law.
*** Trust law
documents can effectuate the transfer of most assets
Use Case:
Legal engineers get tokens, passed tokens to exchanges for other value.
it a rocognition system where you can get a legal engineering token.
Redeemed for cash but what happens when one
quits, dies, transfers, break the law, become incapacitated or disappears?
Appoint the trustee
Use a principal agent theory
What is the key gets compromised? Stolen, shared?
Principal agent theory.
Power of attorney?
Friend?
An agent removal and replacement option.
LexDAO Token Structures
The method can pass as a properly executed proxy vote.
LexDAO accesses these smart-contracts
Moloch v2x
LexLocker - ADR and other custodial associations
LexToken a fungible - tokenized asset offering
LexKudos is a token for trading on system reputation.
+++++++++++++++++++++++++++++++
If it is a unincorporated association it needs to be formalized in order to take advantage of state law protections and benefits.
"If we are not one of those" we need to look for a framework that makes sense.
We will need a registered agent, where the real property is, file some sort of memo with a secretarty state or county recorders office.
HB74
What about a Special Purpose Investment Vehicle
Special Purpose Depository Institutions
The LexToken: following the Blue Sky Laws
There is a framework for utility tokens
Framework lays as a public good and maybe non-profit status.
++++++++++++++++++++++++++++
Our core purpose is legal engineering.
SIC code for consulting services is:
social handle but no id -
reasonable standards to admission
levels of fallback provisions, the state has ultimate fallback will trust, intestate laws,
Outlier scenarios: permanently leaves country, missing persons,deceased,power of attonrey and trustees. At what point would property revert to the state.
When will the federal courts have property jurisdiction? what kind of disputes qualify? Bankruptcy.
WYOMING: THE TOKEN IS PROPERTY
assets must be held in the DAO
abondonment procedures and recording
eschew to the state
DEATH
DIVORCE
SUPER ACCOUNT
MULTISIG
+++++++++++++++++++++++++++++++
GENERAL CLUB
+++++++++++++++++++++++++++++++
ANY CLUB HAS MEMBER REQUIRMENTS.
THE CREDENTIALS FOR TOKENS,
THE ENTITY IS THEIR CONCERN
international law consideration,
blacklists based on reasonable standards
bankrupt parties fast-track resolutions
++++++++++++++++++++++++++++++
Preferred way is Incorporated WY, LLC.
Recognized as Unincorporated association
which is provided certain recognition and benefits of the state.
Co-ops in
As long as they get the sales taxes, we can use their sales system.
Tax our revenues, and we can impound a percentate of income for state taxes.
Sales tax system with reporting.
By using the state account as an unisured account and it can be adjusted for what the operating.
++++++++++++++++++++++++++
Even more miscellaeous notes SS/ss vvvvvv
Annual fee?
What way the +/- $1500 charge to get the Wyoming licensing......
Conflict of laws - two different states,
Jurisdictional challenges between Unincoporated associations and
Must put a registered agent in WY to take advantage of the overlay
Create a DAO to ovelay the token to member and governance accountability to WY.
In 2019, the Wyoming Legislature enacted HB 74 which authorized the chartering of special purpose depository institutions (SPDIs). These institutions are banks that receive deposits and conduct other incidental activities, including fiduciary asset management, custody and related activities. It is likely that many SPDIs will focus heavily on digital assets, such as virtual currencies, digital securities and utility tokens. SPDIs may focus on traditional assets as well.
SPDIs may resemble custody banks in that these institutions will likely focus on fiduciary activities, safekeeping, asset management and servicing. The role of a custody bank is focused on storing assets, fiduciary management, conducting a variety of transactions with assets and providing an 'on/off' ramp to securities markets, commodities markets and customer bank accounts.
SPDIs also may serve as a vehicle for business cash management, operational accounts, and any other purpose permitted by HB 74.
Legal Engineering
Legal Engineering is the act of planning, managing, and executing methods for legal purpose. It is not legal advice, it is using tools to help make legal processes more manageable by applying digital instructions to digital artifacts.
What is a DAO
Algorithms as Law
Interface to Traditional Law
Private Law
++++++++++++++++++++++++++++++++++++++++++
Markets Maths Mechanisms
Web 3.0 Cryptoeconomics
Roles Rules Ref
Contract Compliance Complaint
Traditional Legal
Legal Interpretation
Functional Mapping
Token Mechanism
Token Properties
Closed (Membership)
Open (Security/Debt)
++++++++++++++++++++++++++++++++++++++++++
Map UCC state blockchain legislation
Identify token mechanism equivalent
Map properties to function
Functional Equivalence?
Legislative Overlay
++++++++++++++++++++++++++++++++++++++++++
Please check the errata for any errors or issues reported since publication.
See also translations.
Copyright © 2019 W3C® (MIT, ERCIM, Keio, Beihang). W3C liability, trademark and permissive document license rules apply.
Abstract
Credentials are a part of our daily lives; driver's licenses are used to assert that we are capable of operating a motor vehicle, university degrees can be used to assert our level of education, and government-issued passports enable us to travel between countries. This specification provides a mechanism to express these sorts of credentials on the Web in a way that is cryptographically secure, privacy respecting, and machine-verifiable.
=================
For those unfamiliar with the concepts related to verifiable credentials, the following sections provide an overview of:
=======================================
SS/ss
Bankruptcy law
~ws https://en.wikipedia.org/wiki/Bankruptcy_in_the_United_States
Abondoned property
Intestate assest
Claim back property rights
Id includes code and culture - @ LL
3box leads in Web3 Identity applications
++++++++++++++++++++++++++++++
There are:
Member tokens
Capital tokens
Goodwill tokens
Utility tokens
Fungible tokens
...
Tokens:
Are they going to be swappable and interchangeable?
Are their tied to and event or identiity?
Can they be used as contrinution to wards consideration of good-will? legal services? medical advice? appraisals?
Trust Law
Most legal claims fall into three categories:
tort law, the USC or state codes, the UCC or trust law.
*** Trust law
documents can effectuate the transfer of most assets
Use Case:
Legal engineers get tokens, passed tokens to exchanges for other value.
it a rocognition system where you can get a legal engineering token.
Redeemed for cash but what happens when one
quits, dies, transfers, break the law, become incapacitated or disappears?
Appoint the trustee
Use a principal agent theory
What is the key gets compromised? Stolen, shared?
Principal agent theory.
Power of attorney?
Friend?
An agent removal and replacement option.
LexDAO Token Structures
The method can pass as a properly executed proxy vote.
LexDAO accesses these smart-contracts
+++++++++++++++++++++++++++++++
If it is a unincorporated association it needs to be formalized in order to take advantage of state law protections and benefits.
"If we are not one of those" we need to look for a framework that makes sense.
We will need a registered agent, where the real property is, file some sort of memo with a secretarty state or county recorders office.
HB74
What about a Special Purpose Investment Vehicle
Special Purpose Depository Institutions
The LexToken: following the Blue Sky Laws
There is a framework for utility tokens
Framework lays as a public good and maybe non-profit status.
++++++++++++++++++++++++++++
Our core purpose is legal engineering.
SIC code for consulting services is:
social handle but no id -
reasonable standards to admission
levels of fallback provisions, the state has ultimate fallback will trust, intestate laws,
Outlier scenarios: permanently leaves country, missing persons,deceased,power of attonrey and trustees. At what point would property revert to the state.
When will the federal courts have property jurisdiction? what kind of disputes qualify? Bankruptcy.
WYOMING: THE TOKEN IS PROPERTY
assets must be held in the DAO
abondonment procedures and recording
eschew to the state
DEATH
DIVORCE
SUPER ACCOUNT
MULTISIG
+++++++++++++++++++++++++++++++
GENERAL CLUB
+++++++++++++++++++++++++++++++
ANY CLUB HAS MEMBER REQUIRMENTS.
THE CREDENTIALS FOR TOKENS,
THE ENTITY IS THEIR CONCERN
international law consideration,
blacklists based on reasonable standards
bankrupt parties fast-track resolutions
++++++++++++++++++++++++++++++
Preferred way is Incorporated WY, LLC.
Recognized as Unincorporated association
which is provided certain recognition and benefits of the state.
Co-ops in
As long as they get the sales taxes, we can use their sales system.
Tax our revenues, and we can impound a percentate of income for state taxes.
Sales tax system with reporting.
By using the state account as an unisured account and it can be adjusted for what the operating.
++++++++++++++++++++++++++
Even more miscellaeous notes SS/ss vvvvvv
Annual fee?
What way the +/- $1500 charge to get the Wyoming licensing......
Conflict of laws - two different states,
Jurisdictional challenges between Unincoporated associations and
Must put a registered agent in WY to take advantage of the overlay
Create a DAO to ovelay the token to member and governance accountability to WY.
Special Purpose Depository Institutions
HB 74
http://wyomingbankingdivision.wyo.gov/home/areas-of-regulation/laws-and-regulation/special-purpose-depository-institution
In 2019, the Wyoming Legislature enacted HB 74 which authorized the chartering of special purpose depository institutions (SPDIs). These institutions are banks that receive deposits and conduct other incidental activities, including fiduciary asset management, custody and related activities. It is likely that many SPDIs will focus heavily on digital assets, such as virtual currencies, digital securities and utility tokens. SPDIs may focus on traditional assets as well.
SPDIs may resemble custody banks in that these institutions will likely focus on fiduciary activities, safekeeping, asset management and servicing. The role of a custody bank is focused on storing assets, fiduciary management, conducting a variety of transactions with assets and providing an 'on/off' ramp to securities markets, commodities markets and customer bank accounts.
SPDIs also may serve as a vehicle for business cash management, operational accounts, and any other purpose permitted by HB 74.
DOCUMENTS:
Charter Applications- Rules.pdf (28k)
Dylan Smith, Sep 26, 2019, 12:18 PM
v.1
Digital Asset Custody Rules.pdf (93k)
Dylan Smith, Jun 2, 2020, 6:26 AM
v.1
Digital Asset Statutes (UCC & Custody).PDF (5248k)
Dylan Smith, Jun 2, 2020, 6:26 AM
v.1
Procedure for Application Hearings- Rules.pdf (9k)
Dylan Smith, Sep 26, 2019, 12:19 PM
v.1
SPDI Administrative Rules (6-20).pdf (116k)
Dylan Smith, Jun 17, 2020, 8:30 AM
v.1
SPDI Application Process Overview (05-20).pdf (113k)
Dylan Smith, Jun 2, 2020, 8:46 AM
v.1
SPDI Bank Charter Application (06-20).docx (102k)
Dylan Smith, Jun 19, 2020, 1:41 PM
v.1
SPDI Biographical & Financial Report (06-20).docx (125k)
Dylan Smith, Jun 17, 2020, 8:30 AM
v.1
SPDI Capital Requirement Guidance (05-20).pdf (90k)
Dylan Smith, Jun 2, 2020, 8:46 AM
v.1
SPDI Statutes.pdf (1490k)
Dylan Smith, Jun 2, 2020, 6:27 AM
v.1
++++++++++++++++++++++++++++++++++++++++++
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