We’re at the forefront of a shift in how humans organize, accomplish shared goals, and coordinate commercial and non-commercial efforts. Decentralized autonomous organizations (DAOs) are at the crux of this movement and represent a transformation of work and organizational structures as we know them today. Much like the corporate form’s fueling of the Industrial Revolution in the 18th and 19th centuries, DAOs will help and encourage a new paradigm of self-employment work and broader Web3 adoption moving forward.
The rise of blockchain-focused technologies, smart contracts, & digitally native communities have lead to a renaissance of re-thinking the status quo. But these innovations are not without issues. Many Web3 contributors and DAOs today are exposed to substantial risk and liability that must be fixed.
Under U.S. law, when two or more individuals work together in a business capacity, they are classified as a general partnership. This classification is imputed automatically and allows all individual-partners to make decisions for the partnership as a whole. Most importantly, this default structure results in (1) unlimited personal liability for all individuals involved and (2) personal liability for the debts & obligations of the partnership. This means most DAOs operating in the U.S. create serious liability risks for their contributors and members.
Builders, contributors, & workers in Web3 should not be constrained or disincentivized by fears of unlimited liability or operating in violation of the law. Participating in a DAO should not create the potential risk of losing one’s personal assets, no matter how remote the possibility. Participants need proper incentives, assurances, and structures that protect and reward their efforts. Web3’s widespread adoption & the future of work depend on this.
We believe legal protection & professional resources for self-employed contributors, Web3 workers, and DAOs should be quick and easy to access. Our platform democratizes these protections and strategies, making legal entity structuring and tax guidance accessible. Forcefield eliminates the risks of participating in Web3 for self-employed workers, contributors, and DAOs. We’re activating Forcefield and excited to help protect the future of Web3.
Want to join the mission or have questions? Visit us at https://Forcefield.so, drop us a line on Telegram; schedule a call; or reach out at “hello (at) forcefield.so”
Header image by DoFresh