NEW: friesdao wants to raise $9.69 million to build a crypto-influenced fast-food empire. realDannyNelson reports
certainly does.
“You are going to have voting rights that influence decision making on the acquisition of a fast food restaurant,” Bill Lee, a project advisor told CoinDesk.One thing token-holders won’t get is ownership rights to FriesDAO’s franchise, a stake in its profits or final say in its business – at least not at first.Such are the realities of U.S. securities law, project leads say.
“We're going to need some sort of external organization or contracted organization to actually acquire the fast food stores for us, and so to make that a legally binding thing,” he said. “We believe that when a company starts a business, they should sit down and they should be able to look at a set of tools, a B Corp, a C Corp, an LLC, a DAO,” and choose the one that fits their needs. He cited “individual creators” as one group particularly well-positioned to make use of DAOism.
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