# kaal:claim:2939127-031

**Claim.** Because a series of smart contracts granted DAO token holders voting rights, the blockchain based smart contracts performed the function of articles of association or corporate bylaws, in an organization that had no directors, managers, or employees.

**Type.** mechanism  **Support.** argued

**Holds when.**

- decentralized autonomous organizations structured like the DAO

**Source quote.**

> Because a series of smart contracts granted DAO token holders voting rights, the blockchain-based smart contracts imitated the role of articles of association or bylaws.

**From.** Mark Fenwick, Wulf A. Kaal, Erik P. M. Vermeulen, *Legal Education in the Blockchain Revolution* (2017), III.4. Limitations, page 32

**Cite as.** Mark Fenwick, Wulf A. Kaal, Erik P. M. Vermeulen, Legal Education in the Blockchain Revolution (2017). SSRN: https://ssrn.com/abstract=2939127

**Verify.** sha256 of source PDF `abcef529c7200261c59eec43018375b3b26e3186239fb9d002bacc298dba26ff` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Fenwick%20et%20al.%20-%202017%20-%20Legal%20Education%20in%20the%20Blockchain%20Revolution.pdf

**Topics.** dao, governance-design, corporate-governance, smart-contracts, decentralization

**Keywords.** dao, corporate-governance, smart-contracts, decentralized-organizations

**Related claims.**

- extends: https://wulfkaal.github.io/claims/2922176-036
- restated_by: https://wulfkaal.github.io/claims/3227933-032
- extended_by: https://wulfkaal.github.io/claims/3799320-020
- restated_by: https://wulfkaal.github.io/claims/3227967-023
- restated_by: https://wulfkaal.github.io/claims/3227933-030

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.