The Wall Has Fallen: Decentralization Gets Recognition, DAOs Become Legalized By DailyCoin – Investing.com

The Wall Has Fallen: Decentralization Gets Recognition, DAOs Become Legalized By DailyCoin – Investing.com

The innovative requisite of the crypto industry is holding a fast pace. Between 2020 and 2021, DeFi, and later NFTs, started to be embedded into the very fabric of digital crypto activities. Not only that, but they’ve been challenging the centralized status quo and its outdated practices, creating a testing incubator for other blockchain assets to become functional. DAOs have since emerged as an operational necessity as decentralized protocols widen their expansion into the digital space.

DAOs and the Decentralized Solution

DAOs are becoming more central to the cryptocurrency economy, and the state of Wyoming has passed a state-wide bill recognizing DAOs as legal formations. American CryptoFed DAO LLC has thus become the first legally registered and recognized DAO. Michael Orr, the CEO of the first DAO LCC, emphasized that the regulation change indicates “mass acceptance is now possible.”