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Institute of Banking and Finance Law

Analysing Decentralised Autonomous Organisations: Limits and Perspective

When: Monday, July 10, 2023, 5:00 PM - 6:00 PM
Where: Online


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The London Financial Regulation Seminar is an inter-collegiate and inter-disciplinary group of experts led by CCLS and our Institute of Banking and Finance under the leadership of Professor Rosa M. Lastra and Dr. Daniele D’Alvia.

On Monday 10 July 2023, Dr. Jose Zapata Sevilla from University of Malaga (Spain), discusses his research on Decentralised Autonomous Organisations (DAOs). Dr. Daniele D’Alvia chaired the event.

Dr. Jose Zapata Sevilla is a Spanish legal researcher who holds a Ph.D. in Law from the University of Malaga. He is currently a visiting scholar at CCLS – Queen Mary University of London under the supervision of Professor Lastra. Previously in 2021 he had research periods at the Institute of International Monetary Research and the University of Buckingham where he completed by the end of 2022 the Postgraduate Certificate in Money Banking and Central Banking.

Dr. Zapata Sevilla critically analyses the case of Decentralised Autonomous Organisations (DAOs). Distributed ledger technologies enable the provision of decentralised finance (DeFI) and decentralised money (crypto-currencies). DAOs are collaboration schemes or undertaking managed in an automated and decentralised fashion that may offer DeFI services and crypto-assets including crypto-currencies. In this regard, MakerDAO provides his own crypto-currency, Dai, through a loan scheme. Dai is a stablecoin aiming to maintain a soft peg with the US dollar via a complex stabilisation mechanism including over-collateralisation and arbitrage. However, the assertion must be reviewed against the reality of the operation of the stablecoin, the vulnerabilities that can affect the project, and the interaction with the different elements of the legal system. Dr. Zapata Sevilla sheds light on those legal and economic features.

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