[NEWS] JCBA releases guidelines for building "Regional Revitalization DAO"

On the 12th, the Japan Crypto Asset Business Association (JCBA) published the "Guidelines for Regional Revitalization DAOs".

Regional Revitalization DAOs are often thought of as activities that form communities centered around token holders of NFTs and other tokens, and decide how to use the purchase price by voting among token holders. However, JCBA points out that in reality, the form varies depending on the region.

While NFTs and DAOs are increasingly being used in regional revitalization, there are cases where the information disclosed to participants is insufficient, and there are issues with the system for protecting users, it was mentioned.

JCBA has formulated the "Guidelines for Regional Revitalization DAOs" with the aim of promoting DAO efforts while creating an environment for user protection by having regional revitalization DAO operators disclose information in a timely manner. The formulation of the guidelines is aimed at facilitating the operation of regional revitalization DAO operators, promoting entry and participation by DAO participants, and leading to the healthy development of regional revitalization DAO efforts.

Focus on protecting users through information disclosure

The guidelines adopt an approach that aims to protect users through the disclosure of information on "the legal status of the Regional Revitalization DAO," "the legal relationship between participants and the sale proceeds of tokens, etc.," and "the legal status of decision-making through voting."

The guidelines are also intended to be used as a guide for private organizations when carrying out activities related to "Regional Revitalization DAOs." In addition, it is believed that there are parts that can be used as reference or for activities related to DAOs established for purposes other than regional revitalization, and it is hoped that they will be actively used.

The guidelines are composed of two parts: "Overview of the issues surrounding the Regional Revitalization DAO and user protection," and "Guidelines for information disclosure that summarizes information that is desirable to disclose."

In creating the guidelines, opinions were exchanged with the Yamakoshi Residents' Council, SOKO LIFE TECHNOLOGY, Sparkle, the Industrial Promotion Division of the Sendai City Economic Bureau, and Sumanyu Lab.

Reference:Announcement
Image: Shutterstock

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