DAOs are legal entities in Marshall Islands.
The Pacific island state recognizes decentralized autonomous organizations.
The Republic of the Marshall Islands has recognized decentralized autonomous organizations (DAOs) as legal entities, giving collectively owned and managed blockchain projects global recognition.
The Marshall Islands' amended the Non-Profit Entities Act 2021 that now recognizes DAOs, which are blockchain-based entities governed by self-organizing communities. Incorporating Admiralty LLC, the island country's first DAO, was made possible thanks to the amendement. MIDAO Directory Services Inc., a domestic organization established to assist DAOs in the Marshall Islands, assisted in the incorporation.
The new law currently allows any DAO to register and operate in the Marshall Islands.
“This is a unique moment to lead,” said Bobby Muller, former Marshall Islands chief secretary and co-founder of MIDAO. He believes DAOs will help create “more efficient and less hierarchical” organizations.
A global hub for DAOs, the Marshall Islands hopes to become a global hub for DAO registration, domicile, use cases, and mass adoption. He added:
"This includes low-cost incorporation, a supportive government with internationally recognized courts, and a technologically open environment."
According to the World Bank, the Marshall Islands is an independent island state in the Pacific Ocean near the Equator. To create a blockchain-based cryptocurrency that would be legal tender alongside the US dollar, the island state has been actively exploring use cases for digital assets since at least 2018.
In February 2018, the Marshall Islands approved the creation of a new cryptocurrency, Sovereign (SOV). As expected, the IMF has criticized the plan, citing concerns that a digital sovereign currency would jeopardize the state's financial stability. They have also criticized El Salvador, the first country to recognize Bitcoin (BTC) as legal tender.
Marshall Islands senator David Paul said the DAO legislation does not pose the same issues as a government-backed cryptocurrency. “A sovereign digital currency is financial and raises concerns about money laundering,” . This is more about giving DAOs legal recognition to make their case to regulators, investors, and consumers.
More on Web3 & Crypto

William Brucee
3 years ago
This person is probably Satoshi Nakamoto.
Who founded bitcoin is the biggest mystery in technology today, not how it works.
On October 31, 2008, Satoshi Nakamoto posted a whitepaper to a cryptography email list. Still confused by the mastermind who changed monetary history.
Journalists and bloggers have tried in vain to uncover bitcoin's creator. Some candidates self-nominated. We're still looking for the mystery's perpetrator because none of them have provided proof.
One person. I'm confident he invented bitcoin. Let's assess Satoshi Nakamoto before I reveal my pick. Or what he wants us to know.
Satoshi's P2P Foundation biography says he was born in 1975. He doesn't sound or look Japanese. First, he wrote the whitepaper and subsequent articles in flawless English. His sleeping habits are unusual for a Japanese person.
Stefan Thomas, a Bitcoin Forum member, displayed Satoshi's posting timestamps. Satoshi Nakamoto didn't publish between 2 and 8 p.m., Japanese time. Satoshi's identity may not be real.
Why would he disguise himself?
There is a legitimate explanation for this
Phil Zimmermann created PGP to give dissidents an open channel of communication, like Pretty Good Privacy. US government seized this technology after realizing its potential. Police investigate PGP and Zimmermann.
This technology let only two people speak privately. Bitcoin technology makes it possible to send money for free without a bank or other intermediary, removing it from government control.
How much do we know about the person who invented bitcoin?
Here's what we know about Satoshi Nakamoto now that I've covered my doubts about his personality.
Satoshi Nakamoto first appeared with a whitepaper on metzdowd.com. On Halloween 2008, he presented a nine-page paper on a new peer-to-peer electronic monetary system.
Using the nickname satoshi, he created the bitcointalk forum. He kept developing bitcoin and created bitcoin.org. Satoshi mined the genesis block on January 3, 2009.
Satoshi Nakamoto worked with programmers in 2010 to change bitcoin's protocol. He engaged with the bitcoin community. Then he gave Gavin Andresen the keys and codes and transferred community domains. By 2010, he'd abandoned the project.
The bitcoin creator posted his goodbye on April 23, 2011. Mike Hearn asked Satoshi if he planned to rejoin the group.
“I’ve moved on to other things. It’s in good hands with Gavin and everyone.”
Nakamoto Satoshi
The man who broke the banking system vanished. Why?
Satoshi's wallets held 1,000,000 BTC. In December 2017, when the price peaked, he had over US$19 billion. Nakamoto had the 44th-highest net worth then. He's never cashed a bitcoin.
This data suggests something happened to bitcoin's creator. I think Hal Finney is Satoshi Nakamoto .
Hal Finney had ALS and died in 2014. I suppose he created the future of money, then he died, leaving us with only rumors about his identity.
Hal Finney, who was he?
Hal Finney graduated from Caltech in 1979. Student peers voted him the smartest. He took a doctoral-level gravitational field theory course as a freshman. Finney's intelligence meets the first requirement for becoming Satoshi Nakamoto.
Students remember Finney holding an Ayn Rand book. If he'd read this, he may have developed libertarian views.
His beliefs led him to a small group of freethinking programmers. In the 1990s, he joined Cypherpunks. This action promoted the use of strong cryptography and privacy-enhancing technologies for social and political change. Finney helped them achieve a crypto-anarchist perspective as self-proclaimed privacy defenders.
Zimmermann knew Finney well.
Hal replied to a Cypherpunk message about Phil Zimmermann and PGP. He contacted Phil and became PGP Corporation's first member, retiring in 2011. Satoshi Nakamoto quit bitcoin in 2011.
Finney improved the new PGP protocol, but he had to do so secretly. He knew about Phil's PGP issues. I understand why he wanted to hide his identity while creating bitcoin.
Why did he pretend to be from Japan?
His envisioned persona was spot-on. He resided near scientist Dorian Prentice Satoshi Nakamoto. Finney could've assumed Nakamoto's identity to hide his. Temple City has 36,000 people, so what are the chances they both lived there? A cryptographic genius with the same name as Bitcoin's creator: coincidence?
Things went differently, I think.
I think Hal Finney sent himself Satoshis messages. I know it's odd. If you want to conceal your involvement, do as follows. He faked messages and transferred the first bitcoins to himself to test the transaction mechanism, so he never returned their money.
Hal Finney created the first reusable proof-of-work system. The bitcoin protocol. In the 1990s, Finney was intrigued by digital money. He invented CRypto cASH in 1993.
Legacy
Hal Finney's contributions should not be forgotten. Even if I'm wrong and he's not Satoshi Nakamoto, we shouldn't forget his bitcoin contribution. He helped us achieve a better future.

mbvissers.eth
3 years ago
Why does every smart contract seem to implement ERC165?
ERC165 (or EIP-165) is a standard utilized by various open-source smart contracts like Open Zeppelin or Aavegotchi.
What's it? You must implement? Why do we need it? I'll describe the standard and answer any queries.
What is ERC165
ERC165 detects and publishes smart contract interfaces. Meaning? It standardizes how interfaces are recognized, how to detect if they implement ERC165, and how a contract publishes the interfaces it implements. How does it work?
Why use ERC165? Sometimes it's useful to know which interfaces a contract implements, and which version.
Identifying interfaces
An interface function's selector. This verifies an ABI function. XORing all function selectors defines an interface in this standard. The following code demonstrates.
// SPDX-License-Identifier: UNLICENCED
pragma solidity >=0.8.0 <0.9.0;
interface Solidity101 {
function hello() external pure;
function world(int) external pure;
}
contract Selector {
function calculateSelector() public pure returns (bytes4) {
Solidity101 i;
return i.hello.selector ^ i.world.selector;
// Returns 0xc6be8b58
}
function getHelloSelector() public pure returns (bytes4) {
Solidity101 i;
return i.hello.selector;
// Returns 0x19ff1d21
}
function getWorldSelector() public pure returns (bytes4) {
Solidity101 i;
return i.world.selector;
// Returns 0xdf419679
}
}This code isn't necessary to understand function selectors and how an interface's selector can be determined from the functions it implements.
Run that sample in Remix to see how interface function modifications affect contract function output.
Contracts publish their implemented interfaces.
We can identify interfaces. Now we must disclose the interfaces we're implementing. First, import IERC165 like so.
pragma solidity ^0.4.20;
interface ERC165 {
/// @notice Query if a contract implements an interface
/// @param interfaceID The interface identifier, as specified in ERC-165
/// @dev Interface identification is specified in ERC-165.
/// @return `true` if the contract implements `interfaceID` and
/// `interfaceID` is not 0xffffffff, `false` otherwise
function supportsInterface(bytes4 interfaceID) external view returns (bool);
}We still need to build this interface in our smart contract. ERC721 from OpenZeppelin is a good example.
// SPDX-License-Identifier: MIT
// OpenZeppelin Contracts (last updated v4.5.0) (token/ERC721/ERC721.sol)
pragma solidity ^0.8.0;
import "./IERC721.sol";
import "./extensions/IERC721Metadata.sol";
import "../../utils/introspection/ERC165.sol";
// ...
contract ERC721 is Context, ERC165, IERC721, IERC721Metadata {
// ...
function supportsInterface(bytes4 interfaceId) public view virtual override(ERC165, IERC165) returns (bool) {
return
interfaceId == type(IERC721).interfaceId ||
interfaceId == type(IERC721Metadata).interfaceId ||
super.supportsInterface(interfaceId);
}
// ...
}I deleted unnecessary code. The smart contract imports ERC165, IERC721 and IERC721Metadata. The is keyword at smart contract declaration implements all three.
Kind (interface).
Note that type(interface).interfaceId returns the same as the interface selector.
We override supportsInterface in the smart contract to return a boolean that checks if interfaceId is the same as one of the implemented contracts.
Super.supportsInterface() calls ERC165 code. Checks if interfaceId is IERC165.
function supportsInterface(bytes4 interfaceId) public view virtual override returns (bool) {
return interfaceId == type(IERC165).interfaceId;
}So, if we run supportsInterface with an interfaceId, our contract function returns true if it's implemented and false otherwise. True for IERC721, IERC721Metadata, andIERC165.
Conclusion
I hope this post has helped you understand and use ERC165 and why it's employed.
Have a great day, thanks for reading!

rekt
4 years ago
LCX is the latest CEX to have suffered a private key exploit.
The attack began around 10:30 PM +UTC on January 8th.
Peckshield spotted it first, then an official announcement came shortly after.
We’ve said it before; if established companies holding millions of dollars of users’ funds can’t manage their own hot wallet security, what purpose do they serve?
The Unique Selling Proposition (USP) of centralised finance grows smaller by the day.
The official incident report states that 7.94M USD were stolen in total, and that deposits and withdrawals to the platform have been paused.
LCX hot wallet: 0x4631018f63d5e31680fb53c11c9e1b11f1503e6f
Hacker’s wallet: 0x165402279f2c081c54b00f0e08812f3fd4560a05
Stolen funds:
- 162.68 ETH (502,671 USD)
- 3,437,783.23 USDC (3,437,783 USD)
- 761,236.94 EURe (864,840 USD)
- 101,249.71 SAND Token (485,995 USD)
- 1,847.65 LINK (48,557 USD)
- 17,251,192.30 LCX Token (2,466,558 USD)
- 669.00 QNT (115,609 USD)
- 4,819.74 ENJ (10,890 USD)
- 4.76 MKR (9,885 USD)
**~$1M worth of $LCX remains in the address, along with 611k EURe which has been frozen by Monerium.
The rest, a total of 1891 ETH (~$6M) was sent to Tornado Cash.**
Why can’t they keep private keys private?
Is it really that difficult for a traditional corporate structure to maintain good practice?
CeFi hacks leave us with little to say - we can only go on what the team chooses to tell us.
Next time, they can write this article themselves.
See below for a template.
You might also like

Jussi Luukkonen, MBA
3 years ago
Is Apple Secretly Building A Disruptive Tsunami?
A TECHNICAL THOUGHT
The IT giant is seeding the digital Great Renaissance.
Recently, technology has been dull.
We're still fascinated by processing speeds. Wearables are no longer an engineer's dream.
Apple has been quiet and avoided huge announcements. Slowness speaks something. Everything in the spaceship HQ seems to be turning slowly, unlike competitors around buzzwords.
Is this a sign of the impending storm?
Metas stock has fallen while Google milks dumb people. Microsoft steals money from corporations and annexes platforms like Linkedin.
Just surface bubbles?
Is Apple, one of the technology continents, pushing against all others to create a paradigm shift?
The fundamental human right to privacy
Apple's unusual remarks emphasize privacy. They incorporate it into their business models and judgments.
Apple believes privacy is a human right. There are no compromises.
This makes it hard for other participants to gain Apple's ecosystem's efficiencies.
Other players without hardware platforms lose.
Apple delivers new kidneys without rejection, unlike other software vendors. Nothing compromises your privacy.
Corporate citizenship will become more popular.
Apples have full coffers. They've started using that flow to better communities, which is great.
Apple's $2.5B home investment is one example. Google and Facebook are building or proposing to build workforce housing.
Apple's funding helps marginalized populations in more than 25 California counties, not just Apple employees.
Is this a trend, and does Apple keep giving back? Hope so.
I'm not cynical enough to suspect these investments have malicious motives.
The last frontier is the environment.
Climate change is a battle-to-win.
Long-term winners will be companies that protect the environment, turning climate change dystopia into sustainable growth.
Apple has been quietly changing its supply chain to be carbon-neutral by 2030.
“Apple is dedicated to protecting the planet we all share with solutions that are supporting the communities where we work.” Lisa Jackson, Apple’s vice president of environment.
Apple's $4.7 billion Green Bond investment will produce 1.2 gigawatts of green energy for the corporation and US communities. Apple invests $2.2 billion in Europe's green energy. In the Philippines, Thailand, Nigeria, Vietnam, Colombia, Israel, and South Africa, solar installations are helping communities obtain sustainable energy.
Apple is already carbon neutral today for its global corporate operations, and this new commitment means that by 2030, every Apple device sold will have net zero climate impact. -Apple.
Apple invests in green energy and forests to reduce its paper footprint in China and the US. Apple and the Conservation Fund are safeguarding 36,000 acres of US working forest, according to GreenBiz.
Apple's packaging paper is recycled or from sustainably managed forests.
What matters is the scale.
$1 billion is a rounding error for Apple.
These small investments originate from a tree with deep, spreading roots.
Apple's genes are anchored in building the finest products possible to improve consumers' lives.
I felt it when I switched to my iPhone while waiting for a train and had to pack my Macbook. iOS 16 dictation makes writing more enjoyable. Small change boosts productivity. Smooth transition from laptop to small screen and dictation.
Apples' tiny, well-planned steps have great growth potential for all consumers in everything they do.
There is clearly disruption, but it doesn't have to be violent
Digital channels, methods, and technologies have globalized human consciousness. One person's responsibility affects many.
Apple gives us tools to be privately connected. These technologies foster creativity, innovation, fulfillment, and safety.
Apple has invented a mountain of technologies, services, and channels to assist us adapt to the good future or combat evil forces who cynically aim to control us and ruin the environment and communities. Apple has quietly disrupted sectors for decades.
Google, Microsoft, and Meta, among others, should ride this wave. It's a tsunami, but it doesn't have to be devastating if we care, share, and cooperate with political decision-makers and community leaders worldwide.
A fresh Renaissance
Renaissance geniuses Michelangelo and Da Vinci. Different but seeing something no one else could yet see. Both were talented in many areas and could discover art in science and science in art.
These geniuses exemplified a period that changed humanity for the better. They created, used, and applied new, valuable things. It lives on.
Apple is a digital genius orchard. Wozniak and Jobs offered us fertile ground for the digital renaissance. We'll build on their legacy.
We may put our seeds there and see them bloom despite corporate greed and political ignorance.
I think the coming tsunami will illuminate our planet like the Renaissance.

Tim Denning
3 years ago
In this recession, according to Mark Cuban, you need to outwork everyone
Here’s why that’s baloney
Mark Cuban popularized entrepreneurship.
Shark Tank (which made Mark famous) made starting a business glamorous to attract more entrepreneurs. First off
This isn't an anti-billionaire rant.
Mark Cuban has done excellent. He's a smart, principled businessman. I enjoy his Web3 work. But Mark's work and productivity theories are absurd.
You don't need to outwork everyone in this recession to live well.
You won't be able to outwork me.
Yuck! Mark's words made me gag.
Why do boys think working is a football game where the winner wins a Super Bowl trophy? To outwork you.
Hard work doesn't equal intelligence.
Highly clever professionals spend 4 hours a day in a flow state, then go home to relax with family.
If you don't put forth the effort, someone else will.
- Mark.
He'll burn out. He's delusional and doesn't understand productivity. Boredom or disconnection spark our best thoughts.
TikTok outlaws boredom.
In a spare minute, we check our phones because we can't stand stillness.
All this work p*rn makes things worse. When is it okay to feel again? Because I can’t feel anything when I’m drowning in work and haven’t had a holiday in 2 years.
Your rivals are actively attempting to undermine you.
Ohhh please Mark…seriously.
This isn't a Tom Hanks war film. Relax. Not everyone is a rival. Only yourself is your competitor. To survive the recession, be better than a year ago.
If you get rich, great. If not, there's more to life than Lambos and angel investments.
Some want to relax and enjoy life. No competition. We witness people with lives trying to endure the recession and record-high prices.
This fictitious rival worsens life and work.
If you are truly talented, you will motivate others to work more diligently and effectively.
No Mark. Soz.
If you're a good leader, you won't brag about working hard and treating others like cogs. Treat them like humans. You'll have EQ.
Silly statements like this are caused by an out-of-control ego. No longer watch Shark Tank.
Ego over humanity.
Good leaders will urge people to keep together during the recession. Good leaders support those who are laid off and need a reference.
Not harder, quicker, better. That created my mental health problems 10 years ago.
Truth: we want to work less.
The promotion of entrepreneurship is ludicrous.
Marvel superheroes. Seriously, relax Max.
I used to write about entrepreneurship, then I quit. Many WeWork Adam Neumanns. Carelessness.
I now utilize the side hustle title when writing about online company or entrepreneurship. Humanizes.
Stop glorifying. Thinking we'll all be Elon Musks who send rockets to Mars is delusional. Most of us won't create companies employing hundreds.
OK.
The true epidemic is glorification. fewer selfies Little birdy needs less bank account screenshots. Less Uber talk.
We're exhausted.
Fun, ego-free business can transform the world. Take a relax pill.
Work as if someone were attempting to take everything from you.
I've seen people lose everything.
Myself included. My 20s startup failed. I was almost bankrupt. I thought I'd never recover. Nope.
Best thing ever.
Losing everything reveals your true self. Unintelligent entrepreneur egos perish instantly. Regaining humility revitalizes relationships.
Money's significance shifts. Stop chasing it like a puppy with a bone.
Fearing loss is unfounded.
Here is a more effective approach than outworking nobody.
(You'll thrive in the recession and become wealthy.)
Smarter work
Overworking is donkey work.
You don't want to be a career-long overworker. Instead than wasting time, write down what you do. List tasks and processes.
Keep doing/outsource the list. Step-by-step each task. Continuously systematize.
Then recruit a digital employee like Zapier or a virtual assistant in the same country.
Intelligent, not difficult.
If your big break could burn in hell, diversify like it will.
People err by focusing on one chance.
Chances can vanish. All-in risky. Instead of working like a Mark Cuban groupie, diversify your income.
If you're employed, your customer is your employer.
Sell the same abilities twice and add 2-3 contract clients. Reduce your hours at your main job and take on more clients.
Leave brand loyalty behind
Mark desires his employees' worship.
That's stupid. When times are bad, layoffs multiply. The problem is the false belief that companies care. No. A business maximizes profit and pays you the least.
To care or overpay is anti-capitalist (that run the world). Be honest.
I was a banker. Then the bat virus hit and jobs disappeared faster than I urinate after a night of drinking.
Start being disloyal now since your company will cheerfully replace you with a better applicant. Meet recruiters and hiring managers on LinkedIn. Whenever something goes wrong at work, act.
Loyalty to self and family. Nobody.
Outwork this instead
Mark doesn't suggest outworking inflation instead of people.
Inflation erodes your time on earth. If you ignore inflation, you'll work harder for less pay every minute.
Financial literacy beats inflation.
Get a side job and earn money online
So you can stop outworking everyone.
Internet leverages time. Same effort today yields exponential results later. There are still whole places not online.
Instead of working forever, generate money online.
Final Words
Overworking is stupid. Don't listen to wealthy football jocks.
Work isn't everything. Prioritize diversification, internet income streams, boredom, and financial knowledge throughout the recession.
That’s how to get wealthy rather than burnout-rich.

Alexander Nguyen
3 years ago
How can you bargain for $300,000 at Google?
Don’t give a number
Google pays its software engineers generously. While many of their employees are competent, they disregard a critical skill to maximize their pay.
Negotiation.
If Google employees have never negotiated, they're as helpless as anyone else.
In this piece, I'll reveal a compensation negotiation tip that will set you apart.
The Fallacy of Negotiating
How do you negotiate your salary? “Just give them a number twice the amount you really want”. - Someplace on the internet
Above is typical negotiation advice. If you ask for more than you want, the recruiter may meet you halfway.
It seems logical and great, but here's why you shouldn't follow that advice.
Haitian hostage rescue
In 1977, an official's aunt was kidnapped in Haiti. The kidnappers demanded $150,000 for the aunt's life. It seems reasonable until you realize why kidnappers want $150,000.
FBI detective and negotiator Chris Voss researched why they demanded so much.
“So they could party through the weekend”
When he realized their ransom was for partying, he offered $4,751 and a CD stereo. Criminals freed the aunt.
These thieves gave 31.57x their estimated amount and got a fraction. You shouldn't trust these thieves to negotiate your compensation.
What happened?
Negotiating your offer and Haiti
This narrative teaches you how to negotiate with a large number.
You can and will be talked down.
If a recruiter asks your wage expectation and you offer double, be ready to explain why.
If you can't justify your request, you may be offered less. The recruiter will notice and talk you down.
Reasonably,
a tiny bit more than the present amount you earn
a small premium over an alternative offer
a little less than the role's allotted amount
Real-World Illustration
Recruiter: What’s your expected salary? Candidate: (I know the role is usually $100,000) $200,000 Recruiter: How much are you compensated in your current role? Candidate: $90,000 Recruiter: We’d be excited to offer you $95,000 for your experiences for the role.
So Why Do They Even Ask?
Recruiters ask for a number to negotiate a lower one. Asking yourself limits you.
You'll rarely get more than you asked for, and your request can be lowered.
The takeaway from all of this is to never give an expected compensation.
Tell them you haven't thought about it when you applied.
