Abra is to support ethereum and strengthen protection

Representatives of the company unveiled their plans at the blockchain technology summit
29 November 2017   1664

Abra declared that their bitcoin wallet app would support ethereum. The news was announced during the annual Consensus: Invest in New York on November 28. From that moment Abra app works with ethereum, bitcoin and some other digital currencies. What is more, users can keep different types of cryptocurrency (e.g. dollars, ethereum and bitcoin) in one application thanks to the update.

Developers of the app are planning to implement multi-signature transactions instead of single-signature system using now. It means that the operation can be completed only if both a client and the app are ready to sing a transaction.

Abra also projects to bring “two of three” signature system using a third-party service. After this update a Contract Oracle acquires a right to sign the transaction for one of the parties. Bill Barhydt, the founder of Abra, noted that developments will help to tighten security and make exchange operations more handy.

dOrg to Become The First DAO With Legal Status in US

DAO is a company in which the centralized leadership and hierarchy is replaced by a smart contract
13 June 2019   204

The decentralized autonomous organization (DAO) dOrg based on the DAOstack framework registered dOrg LLC in Vermont, USA. This was the first precedent in the United States, according to law firm Gravel & Shea.

According to the company, the blockchain-based limited liability company (BBLLC) has a legal status, which allows it to enter into agreements and protect the interests of participants in accordance with applicable law.

Note that a DAO is a company in which the centralized leadership and hierarchy is replaced by a smart contract. Decisions in such organizations are made by voting by the participants, which provides consensus.

dOrg asked us to help design a DAO legal wrapper after discovering the potential of BBLLCs. We believe that dOrg is now the first legal entity that directly references blockchain code as its source of governance. Its material operations and ownership interests are managed entirely on-chain.

Oliver Goodenough

Law professor, Vermont Law School and special counsel, Gravel & Shea

dOrg believes that they have made the first step in integrating the DAO format into the existing economy.

Some time ago, Moloch DAO attracted 1000 ETH from Vitalik Buterin, Joseph Lubin, start-up ConsenSys and non-profit organization Ethereum Foundation.