Unveiling the Ultimate Guide to Safeguard Your Interests in a DAO – MIDAO’s Expert Insights on Proper Incorporation | Blockchain Interviews

My Dow co-founder, Adam Miller, explains in an interview with Ashton Addison of Block West Capital that his company assists organizations to incorporate as decentralized autonomous organizations (DAOs). He highlights the importance of incorporation in reducing the legal, regulatory, and tax liabilities of DAO participants. My Dow helps DAOs determine the best jurisdiction and entity type to use for incorporation, with the Marshall Islands Dow LLC being their specialty. Miller also notes that while the first DAOs were focused on finance and cryptocurrency, they are branching out to other industries and addressing objectives outside the digital space.

Diving into DAOs in Web3

By Ashton Addison, Block West Capital


On this episode of the Crypto Coin Show, I am joined by Adam Miller, co-founder of My DAO, to discuss all things decentralized organizations. As DAOs gain popularity, it’s important to understand their place in the world of internet and traditional organizations. Adam shed light on why DAOs need to incorporate and how My DAO can help with that process. We also discussed the types of companies that are already incorporating DAOs and how the industry is branching out beyond finance and Web3.

What is My DAO?

First, let’s discuss what My DAO does. My DAO helps DAOs incorporate by creating the legal entity they need to function. Traditional companies are required to incorporate or file as an LLC, and the same principle applies to DAOs. The incorporation process allows for legal liability and tax liabilities to be separated, which is crucial for protecting individual members from legal action.

Why Should DAOs Incorporate?

DAOs will be viewed as a general partnership, which means that all members are jointly and severally liable for any legal action that is taken against the DAO (e.g., if there’s fraud). Additionally, if the DAO is profitable, it will be subject to tax liabilities, even if the money is not distributed to individual members or stakeholders. Incorporating the DAO will ensure that legal and tax liabilities are separated and that individual members are not held liable for the entire organization’s debt.

How Does My DAO Incorporate DAOs?

My DAO works with the government of the Marshall Islands to create the best legal and regulatory framework for DAOs. The Marshall Islands have passed a few laws in the past couple of years that created a DAO LLC that is modeled off of the work done in Wyoming. My DAO’s specialty is working with DAOs to evaluate the Marshall Islands DAO LLC and determine if it’s a good fit for their organization. If so, My DAO can create and maintain that entity for them.

Types of Companies Incorporating DAOs

While many DAOs are focused on building Web3 open source software related to finance (e.g., NFTs and DeFi), there are also a growing number of DAOs focusing on other industries. My DAO has worked with companies trying to save the rainforest, running meetup groups, and investing in ancient artifacts, to name just a few. As the industry continues to evolve, DAOs will likely become a standard option for all types of companies and organizations.


As the future of organizations, DAOs have a lot of room to grow and develop. Understanding the importance of incorporation is key to protecting individual members and stakeholders. My DAO has positioned itself to help companies navigate that process and evaluate the best legal and regulatory framework for their organization. As we continue to see DAOs expand into new industries and sectors, it will be exciting to see how they shape the future of organizations.

Notify of
Inline Feedbacks
View all comments

What's in Store for XRP this Week? Find Out the Details of the Ripple XRP Lawsuit!

In a video, Dusty discusses the recent XRP trade that resulted in around 50% profit. He talks about two streams regarding the future of Bitcoin – one is bullish and thinks it will build up from here...

Unraveling the Mystery: Sudden Drop in Stocks and Crypto Values!

In a video update, Sam explains the reason for the sudden dip in both cryptocurrency and stock markets towards the end of the day. According to him, the dip was triggered by the detection of the first...

What's the Latest Buzz Surrounding CRYPTO.COM and Altcoins? Don't Miss Out on the Urgent Update! 🔥

Crypto.com is giving away more than 50 NFTs created by various artists to support local relief and humanitarian efforts in Turkey following recent earthquakes. The collection ends in three days, and all...

What is China's master plan in Africa? Find out how they're making their move.

China has been investing heavily in Africa in recent years, seeking to accumulate resources and influence in the continent. Africa is home to vast mineral reserves, arable land, and a rapidly-growing population,...

"Unveiling the Top 5 Cryptocurrencies to Invest in for 2023 - Are You Ready?"

The video discusses the top five cryptocurrencies to watch, covering recent news, potential, and functions. The first cryptocurrency mentioned is XRP, the native cryptocurrency of the Ripple Network, which...

Explore the Exciting Differences Between Navigating Altcoin & DeFi Ocean with an Array of Tools 🛠️ and the Bare Minimum Approach 🛶 - Which is the Smart Choice?

Navigating the altcoin and decentralized finance space without proper tools and information is like sailing the ocean with just a hole and a single sail compared to a robust ship with multiple sails, cannons,...

"The Truth about Ultimate Champions NFT Play to Earn Game: Should You Buy CHAMP Token and CHAMP Crypto?"

The video discusses the Ultimate Champions game, how to make money from it, and whether or not the speaker will invest in it. The game involves collecting sports cards and participating in leagues, tournaments,...

Unveiling the Secret Method for Crypto Long/Short Trade Without an Exchange! 👁️ #shortcrypto #binance #longsqueeze #leveragetrading

The author is interested in investing in Ethereum, but after the recent FTX drama, they do not want to use an exchange. Instead, they suggest using a decentralized exchange like Uniswap, but note that...

What's the Magic Number? My XRP Purchase Strategy Unveiled!

The author has not purchased XRP for over a year due to its plummeting price. They remain hesitant to invest given the current bear market affecting all cryptocurrencies, including those they love such...

Discover the Ultimate Trading Guide for 2023 with Finteria: Stocks, Crypto, Forex & Commodities!

Moonlight discusses trading cryptocurrencies and provides a step-by-step guide on how to become profitable in trading crypto. She recommends a platform called finteria.com, which allows users to trade...
Load More



Coming Soon

Subscribe and be the first to know about the launch

Look at our roadmap


Thanks for subscribing

You will only receive important notifications
For now, follow to our social networks