The legal nature of DAOs is a gray zone and there is no playbook for creating a legally compliant DAO yet, but accounting can nevertheless be done right.
The accounting equation is universal and accounting principles are timeless. The only difference now is the addition of blockchain technology, and that now transactions for the DAO reside onchain.
With the number of DAOs expected to soar in the years to come, accountants are set to play a key role in the adoption of DAOs.
To discuss DAO accounting, I speak to Kevin Ngo, the DAO Accountant at Polywrap DAO.
Kevin has forged his own path into web3, by wearing many hats at Polywrap, and using the emerging web3 technological stack for the DAO’s accounting.
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