Legal framework

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See work from SENSORICA on the legal framework.

Main ideas

The OVN is a self-organized network with its own Governance, IT infrastructure and methodologies of work. There is no legal shale around an OVN. The Bitcoin network takes a similar form, no one owns the network, it cannot be bought or sold, anyone can join it (open, permissionless), and yet it is capable of providing a stable service to society.

Open networks are not yet recognized as legitimate organizations by modern institutions. They are not illegal entities, they simply don't exist on forms. This will most probably change in the future. Despite that, in some countries ope network are covered by the law on associations. This is the case of Canada.

Legal structures are built at the periphery of the network to create bridges with the current system. Examples are : Exchange firm (takes on legal liability of products commercialized by the OVN and acts as and interface with the market), Custodian (a trust that absorbs legal liability for use, usually a non-for-profit that holds and administers assets like lab space, equipment, tools, consumable materials, grants and funds, the brand, etc.)...

See also Legal structure

A Securities Law Framework for Blockchain Tokens