The CityDAO Legal transparency and accountability project aims to provide legal transparency and accountability with it’s current off-chain real-estate assets, e.g. ownership.
The project will leverage blockchain by reflecting off-chain legal contracts into smart-contracts to transparently show ownership, lease agreements, etc.
Objectives:
To reflect current legal-agreements on-chain for transparencey and accountability
To use the current NFT standard to reflect legal ownership in real-estate assets
To allow (legal) individuals to attest to the credibility of the claims
Implementation:
Phase 1: Development of the CityDAO Legal Digital Twin
Map all public current legal documents and bring them on-chain
Create NFTs that maps to the owners of the legal-contracts
create a system that will update the mapping to reflect all changes off-chain to on-chain
Phase 2: Build CityDAO legal Services
Service will allow CityDAO individuals to swap their legal on-chain assets by going through our legal service. They will be able to create contractual agreements off-chain that will be reflected on-chain
Establish Partnership with legal organization to certify our legal services.
Train legal professionals to use our CityDAO platform to best facility land transfer for the parcels and other legal agreements
Phase 3: Launch and promotion of the CityDAO legal platform
Launch the CityDAO platform to bring services outside parcel-0 and other CityDAO assets
Expand our legal accountability structure to reflect more legal agreements on-chain
Make any necessary adjustments to CityDAO legal services during platform outreach efforts.
Budget:
The budget for the CityDAO Legal Service Project will include the following costs:
Phase 1
Development of the CityDAO Digital Twin: $50,000
Phase 2
Development of the CityDAO platform: $90,000
Recruitment and training of legal professionals: $50,000
Marketing and outreach: $25,000
Phase 3
Ongoing maintenance and operation of the CityDAO platform: $50,000 per year
Total budget: $215,000 (plus ongoing maintenance and operation costs)
Conclusion
The CityDAO Legal Transparency and Accountability Project has the potential to make a significant impact on the DAO revenue stream why still leveraging it’s current real-estate assets.
It’s the holidays so I won’t have the bandwidth to begin but I would be able to draft my implementation approach in the new year and we could discuss what we need to complete it.
The on-chain stuff is quite simple. The actually work will be how to best reflect our current legal structure and agreements.
CityDAO, LLC owns 2 parcels in Blanca CO
CityDAO, LLC wholly owns Parcel Zero, LLC… and Parcel Zero, LLC owns Parcel 0 in Cody WY
Parcel 0 NFT holders have a license to use the property and vote on its governance
There are no other “legal agreements or arrangements” (unless Scott has been out signing documents without telling us )
In any event, its a confusing read on my first pass, especially with respect to the budget and scope.
That’s a good! That would cut out a lot of work and keep it manageable. In any case we can define the different parties and operators of the contract as well which is important to reflect.
My understanding of this proposal is a little shaky, but I think it has two parts:
Phase 1 - Read Access: Put all CityDAO legal documents on the blockchain through IPFS and make them transparent and accessible for everyone on the website. Right now, this would only be the three contracts for land. This could be done for free.
Phase 1.5 - Automate Process: Create a process where all CityDAO legal documents have both an IRL path and a simultaneous blockchain path. If any contracts are signed in real life, they are also have a digital twin signed online using docusign (or a similar service), which triggers an API call that records the finished signing of the document on IPFS. This triggers another API call that will automatically update our website with the most recent updated legal document. As @lyons800 mentioned on our last community call, it would probably need an NFT for attestation to show that CityDAO was the entity that created the updated legal document. The goal is eventually a one-to-one mapping of meatspace to blockspace.
Phase 2: This could then provide a technical infrastructure for other DAOs to apply to make their legal documents on the blockchain. CityDAO could maybe sell this as a service to businesses, municipalities or DAOs.
As explained yesterday, the Parcel 0 NFT is like a license in the same way that a ticket to a sports venue functions. There are no “holder names” associated with the license. Are you suggesting all Parcel 0 holders “doxx” - and what is the actual point of this CIP?
I trust I am not smart enough to fully understand yet, but agree with the others we need to simplify for customers. I think this would be a perfect Government layer proposal to be made IRL before ETHDenver. Then we could create a team to build out over the following week?
Minor update: Both @Da3vid and I have spoken to Sly about the proposal and it makes a lot of sense, the scope written above (and budget in particular) are going to be updated at some point to reflect what we can and should do here. I’d be happy to help on this when the time is ripe.
I have some ideas also but I just haven’t shared them with sly yet. I did talk to David about them though. My thought was that we were creating a Blockchain based legal tracking system for contracts - a product for lawyers and business…
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