Some of the attendees at the summit during a breakout session
Próspera recently held its Legal Engineering Summit, a 3-day hackathon designed to architect dynamic legal frameworks for payments, investments, Web3, and DAOs
ROATAN, NY, HONDURAS, May 23, 2023/EINPresswire.com/ — Próspera recently concluded a high-impact Legal Engineering Summit, held from May 9-12, showcasing an engaging hackathon designed to architect dynamic legal frameworks for payments, investments, crypto, and Decentralized Autonomous Organizations (DAOs). The summit, which was organized by Próspera, Infinita VC, and LexDAO, gathered legal and entrepreneurial minds, exemplifying Próspera’s culture of innovation and commitment to developing and supporting new economic tools.
In a time when clarity on crypto regulations remains elusive, especially in the United States, Próspera’s special jurisdiction acknowledges cryptocurrencies, including Bitcoin, Ethereum, and stablecoins, as legal tender. This strategic choice of domicile and jurisdiction has placed Próspera at the forefront as an essential catalyst for the crypto community’s growth and development.
Three novel solutions were voted as the top 3 from the hackathon. Securing first place, and earning a bounty of $1,000 plus $500 in Próspera Tax Credits, were Seshat Bank represented by Christian Betancourt and Bitso represented by Etienne Luquet. They’re collaborating on a new concept for a blockchain-operating SWIFT supplement that would be headquartered in Próspera, which would initially be a network of correspondent relationships between forward-looking financial institutions from Latin America.
The second spot went to The Prosperity Zone Institute’s Alex Ugorji, with his innovative investment registry, creating a platform for supply and demand to discover unique investment opportunities within Próspera.
Finally, the third place was clinched by LexDAO, with a novel NFT minter smart contract having embedded Delaware Series LLC Agreement functions and IPFS-hosted documents, governed by LexDAO as a public good on Ethereum.
These wins underscore the potential of decentralized solutions in reimagining traditional financial and legal structures, resonating with Próspera’s vision to drive innovation in these areas.
As Kyle Smith of LexDAO explained, “This year’s inaugural legal engineering summit proved Prospera is a legal engineering friendly jurisdiction that’ll support LexDAO in our efforts to fully manifest the Ricardian LLC vision into reality. Now, for the first time in history any blockchain founder can start developing land title bearing NFTs that are legally recognized as property – thereby creating a fully liquid market for buyers of land or real estate. This can become the to-go solution for any real world asset focused blockchain project, and underpin the tokenization of the world.”
This event follows closely on the heels of the Decentralizing Finance Summit, reinforcing Próspera’s dedication to nurturing innovation and empowering the trailblazers redefining the future of decentralized finance and DAO governance.
Próspera’s Legal Engineering Summit signifies an essential step in accelerating the evolution of robust DAO legal frameworks and further promoting a decentralized, secure, and fair financial future.
About Infinita VC: Infinita is an early stage venture capital fund based in Próspera, investing in founders overcoming regulatory and doing-business obstacles through better legal systems. Infinita invested in biotechnology, hardware/robotics and fintech/crypto startups from Latin America and the US. Infinita was founded during the first “Build Próspera Summit” in April 2022, by former startup operator and entrepreneur from Germany, Niklas Anzinger.
About LexDAO: LexDAO is a multi-jurisdictional non-profit business community of legal professionals, developers and enthusiasts who collaborate on various initiatives related to DAOs, legal engineering, smart contracts and more. They have developed several tools and resources to support the growth and development of the DAO ecosystem. Their community continues to spin off acclaimed mission-driven entities such as KALI.gg DAO or legal-wrapper summoner, LexClinic apprenticeshipDAO for law students, CougarDAO real-world-assets management and DAO Coalition legislation advocacy.
About Próspera: Próspera is a governance platform that powers the development of new cities in special economic zones. Próspera’s pro-business framework and system of regulatory choice ensures that companies can operate under the most favorable regulatory conditions in the world. This platform empowers individuals and companies, leading to significant economic growth for businesses, residents and host nations.
Prospera
Próspera
cwilson@prospera.hn
