Jurat is your solution for regulating DAOs and Web3
Keep the decentralization and still enforce the law
Blockchain technology presents a challenge to the authority of regulators and law enforcement officials everywhere. Unlike traditional businesses, there is no manager in charge of a blockchain, so there is no representative to task with compliance in the event of a violation. The same is true of DAOs more generally: once a DAO unleashes an automated smart contract, no one can exert control, not even its creators.
Jurat levels the playing field. With Jurat solutions, regulators can bring enforcement actions directly on the blockchain. Court orders will specify any transaction needed to bring about compliance with rules or regulations. This method provides effective vindication of the law in decentralized environments, including Web3.
Jurat technology is fully discussed in the Jurat Whitepaper.
Beyond KYC/AML
Most policy initiatives for reining in blockchain lawlessness rely on extremely robust implementation of KYC/AML so that regulators can engage directly with the blockchain users in the physical world, a burdensome
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but necessary process. These initiatives are correct but incomplete. KYC/AML alone cannot solve blockchain lawlessness because un-hosted wallets transact amongst themselves with impunity.
On-chain enforcement via court orders provides a necessary additional tool that does not rely on the identification of anonymous account holders to effectuate lawful compliance. Rather, regulators can bring enforcement actions against the wallets themselves, remedying illegal transactions and, if necessary, seizing illegal assets.
"Same Rules" Ready
The “same activity, same risk, same rules” principle is often recited but regulators are lacking the tools to apply it to blockchain. Jurat’s court connectivity solves the problem and lets regulators use rulemaking
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and enforcement actions, just like with centralized companies.
Jurat accomplishes on-chain enforcement in a decentralized manner that keeps all of the blockchain’s native protocols intact. Therefore, on-chain enforcement comes without any downside to the entities that you are regulating, all of which makes Jurat the clear standard of care for your industries.
Leverage Private Enforcement
No one is more motivated to see the law enforced than a person who has been injured. That is why most regulatory regimes rely on private enforcement to help effectuate policy goals. The threat of private enforcement
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motivates regulated entities to follow the law from the outset.
But this piece is missing when it comes to blockchain because vicAms lack effective means to enforce their legal rights. That is why hackers demand ransomware payments in bitcoin. Rules and regulations that require regulated entities to include on-chain legal enforcement are a natural solution.
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Jurat Comments Posts
Jurat Comments on Responsible Development of Digital Assets
Comments filed to the U.S. Department of Commerce on crypto consumer protection and the need for better tech. Read more
Jurat Comments on Crypto Consumer Protection
Comments filed to the U.S. Department of Commerce on crypto consumer protection and the need for better tech. Read more
