# kaal:claim:2922176-036

**Claim.** In a decentralized autonomous organization a series of smart contracts grants token holders voting rights, so the blockchain-based smart contract performs the function that articles of incorporation or bylaws perform in a conventional company.

**Type.** definitional  **Support.** argued

**Holds when.**

- the original DAO structure, running on the Ethereum public blockchain

**Source quote.**

> A series of smart contracts granted token holders voting rights. In this respect, the blockchain-based smart contract mimics the role of articles of incorporation or bylaws.

**From.** Mark Fenwick, Wulf A. Kaal, Erik P. M. Vermeulen, *The ‘Unmediated’ and ‘Tech-Driven’ Corporate Governance of Today's Winning Companies* (2017), VI. Decentralized Corporate Governance, page 46

**Cite as.** Mark Fenwick, Wulf A. Kaal, Erik P. M. Vermeulen, The ‘Unmediated’ and ‘Tech-Driven’ Corporate Governance of Today's Winning Companies (2017). SSRN: https://ssrn.com/abstract=2922176

**Verify.** sha256 of source PDF `fa4e986917d437cb1504281e7b986be2698e9507d8feaf426c9d7d1754ca882c` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Fenwick%20et%20al.%20-%202017%20-%20The%20%E2%80%98Unmediated%E2%80%99%20and%20%E2%80%98Tech-Driven%E2%80%99%20Corporate%20Governance%20of%20Today%27s%20Winning%20Companies.pdf

**Topics.** dao, smart-contracts, governance-design, blockchain

**Keywords.** dao, smart-contracts, bylaws, voting-rights, blockchain

**Related claims.**

- restated_by: https://wulfkaal.github.io/claims/3227933-032
- extended_by: https://wulfkaal.github.io/claims/2939127-031
- extended_by: https://wulfkaal.github.io/claims/3799320-020
- restated_by: https://wulfkaal.github.io/claims/3227967-023

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