Solar-Scruba

[queen gull]

Creating a chat so I can answer any questions you've got

Evening lads, what can I answer here. The chats flooded and the chain is a little difficult to follow on mobile

[vernal saddle]

Basically the question is what exactly are we ????

Are awe a decentiazed entity that is not given or regulated by any particular region laws or are we centralized to a specific areas regulations . Specifically referring to Rich's comment bout in a broader sense

[queen gull]

On a side note, @obtuse beacon I love the work you guys are doing at Infoluvial. Game guides, walk throughs, and graphics are something I want to deliver for our community. Might be a good partnership down the line

[tame hatch]

Is this chat open to public? On mobile so I can't tell

[tame hatch]

Copy/paste my previous answer here:

Decentralisation is a concept and is measured on a spectrum. It needs to have alignment mechanics between the team, council, community and DAO Entity.

[queen gull]

Should be a closed thread

[subtle token]

Can't hide anything from Fraggy 👀

[queen gull]

Ok, so this is a bit of a grey area. The DAO is decentralised, I.e. it is not an organisation or registered corporation

However, in terms of tax revenue, gambling laws, and anything of that nature. Being a DAO doesn't prevent Illuvium, or the players, coin holders, council, etc from needing to comply with the laws in the end users location.

[obtuse beacon]

Hi Chris! Thanks so much for the kind words. Definitely be open to work with Illuvium on more opportunities. I hope you all were satisfied with the last one re fandom.wiki.

[vernal saddle]

yes but this is a problem forthe end users not the DAO itself right?

[queen gull]

I'll use gambling as an example, online gambling is illegal in Australia (with a few exceptions). Illuvium could offer gambling to the players but they would have to prevent AU based players from accessing that option as letting them gamble would be breaking AU laws

[queen gull]

Yes and at the same time a resounding No.

Anywhere that the DAO offers a product they will be beholden to the laws in that area.

[vernal saddle]

Making decentriazation pointless?

why bother then whats the benifit to doing this rather than jsut beoming an entity like bioware

I think i responedto the wrong quote i meant the top one about yes and no

[queen gull]

I'll preface this all by saying I'm not a lawyer, and I'm only an expert on tax law in AU not in any other country.

No, not necessarily. Operating as a DAO provides significant freedoms in other ways, it let's the DAO hire and work with staff all over the world with more freedom, and cuts a fair amount of red tape and allows us to be community first.

If they were to operate as a registered organisation they would need to maintain a head office in a particular state, staff all employees under that country, maintain a board of directors, and do a bunch of other boring business things that would significantly hinder our ability to just focus on building the game

[obtuse beacon]

Sorry to but in, but you may have a strict sense of decentralization in your head.

Some aspects of decentralization can still be in effect even if we would be subject to certain laws of the land or even registration.

If were to compare traditional corporations = centralization, and DAO = decentralization, the biggest difference would be that the community is able to effect decisions rather than a centralized board or even majority stockholder.

But if youre definition of decentralization is that there are no laws that can be applied to it, then that may be impossible in my humble opinion.

We (or any entity for that matter) may never have complete decentralization there will be compromises adoption of best of both worlds from my perspective.

[vernal saddle]

I guess my main concern is Do you feel KYC to play the game is a legitimate possibility?

[queen gull]

Correct, as a registered entity or corporation full creative control would fall on the CEO or board of directors. Community sentiment would no longer be a driving factor

[queen gull]

Incredibly unlikely

[vernal saddle]

Your amazing Chris thank you for taking the time to do this on a sunday . totaly gold star thumbs up

[queen gull]

KYC and AML/CTF is something I'm intimately familiar with coming from more than a decade in finance in AUS.

While it's certainly possible for global governments to step in and try to forcefully regulate the crypto industry I don't personally see it happening. Even in Aus, the entire point of the crypto industry is that it is unregulated and available to everyone. The main observation point is the transfer of FIAT back into hard currency.

I would imagine that we would only see a strong push for regulation if and when crypto began to replace fiat as a currency.

[tame hatch]

My guess would be optional but not required

[vernal saddle]

@tame hatch my above comment applies to you as well my apologies for the exclusion.

[queen gull]

Hopefully I've given you some answers, even if I can't answer everything.

Now I'm going back to my raid 😅

I've got five people waiting in Kings Fall

[vernal saddle]

you done amazing i feel better you helped and it is appreciated

[tame hatch]

All good. Sounds like Chris is way more knowledgeable on this topic.

[obtuse beacon]

Kieran mentioned before that were monitoring or even involved in potential laws being crafted for DAO recognition or even regulation. So, AUS legislation isnt leaning towards any type of KYC? That would be good. Though I suspect US citizens will be shafted if our DAO registers anywhere even in AUS 😄

[queen gull]

No, not at the moment. They definitely want a piece of the pie but any changes will be more along the tax side so they can get their cut 😆

[obtuse beacon]

Context: the law US are planning to pass means they recognized any DAO thats registered in any jurisdiction and US citizens part of it will be subject to their laws which includes KYC/reports. (Cant remember everything but something to that effect)

[queen gull]

Is that a US law? I'll read up on it or get the legal team to brief me

[obtuse beacon]

proposed bill from what I recall. Not yet passed.

[queen gull]

Even then there are measures we can put in place to protect the player base and keep them anonymous. It would also be very hard for that law to be enforced. It would be reliant on IP address matching which VPNs shoot it down immediately.

[obtuse beacon]

I agree. Definitely, not the DAO's problem but the end-user. Too early to assume what the DAO would be responsible for as well since were not registered thus not subjected to any compliance requirements

[queen gull]

End User problem = my problem.

I've got the Head of Customer title which means anything that affect y'all affects me. And that's not counting the fact that I was a beta player and bag holder before i was part of the DAO

Now I'm logging off, keep bringing these questions my way and I'll keep answering where i can

[obtuse beacon]

Cheers mate!

[zenith axle]

nice thead guys

im back reading

[zenith axle]

if i remember correctly, they only ask for the founders/team members to be doxxed.