5.2. Organizational Structure of the LAW Consilium
Due to the uncertainty of the legal status of cryptocurrency, we developed a main subnet (or, as we call it Consilium), within which the cryptocurrency transactions are processed. As already shown above, a cryptocurrency economy needs to manage money supply.
To fulfill these regulatory functions, a certain organizational structure is needed, which will, on the one hand, regulate the money supply, on the other hand, ensure legal representation of this crypto asset, including solving the tasks of legal use of currency in the future. To ensure long- term sustainable development of the LAW currency and its regulation, the whole system is initially designed as a part of the special organizational structure. In fact, the platform is made as a goal-oriented, human-machine system with the built-in goal-setting, adaptation and development mechanisms.
We pay much attention to organizational structure, not less than to its technical development.
Basis of solutions:
- Legal form – a non-profit organization based on membership - Foundation.
- The decision-making rights of its members are proportional to their value for the platform. Decisions are taken in electronic form by absentee voting. The number of votes of each member is determined based on the rule established by the organization and has to correspond to importance of this member for organization’s activity.
- To support making decisions on the goals, operational matters being critical for the organization and changes in its structure, a collective (representative) body shall be formed. This collective body shall have committees – the working groups to be formed on the basis of special competences – technical development, economic policy, legal solutions and technologies, strategic development.
A single executive body shall be formed to manage the current operational activity of the organization.