Fifteenth International Conference on Sport & Society

Abstract

This research explores the potential use of decentralized autonomous organizations (DAOs) for popular shareholding and the governance of sports societies. It focuses particularly on the legal aspects regulating DAOs, on the technological architecture and the related sociological aspects. Moreover, the diffusion of popular shareholding in various geographical areas and the underlying legal foundations are observed. The primary objective is to identify the benefits that the adoption of DAOs could allow, innovating the sector of popular shareholding, ensuring decentralization, democratization, and active involvement of fans in governance. Furthermore, it will be important to identify the legal frameworks of DAOs in the absence of specific regulations, such as in the case of the European MICA regulation, and any technological barriers that could limit adoption. The present study adopts a qualitative methodological approach, analyzing documents, regulations, and case studies to explore the use of DAOs in popular shareholding of sports societies. Through content analysis and the comparison of different regulations and governance practices, it aims to outline the potentials and legal challenges of such integration. This pioneering study aspires to demonstrate how a blockchain-based solution, such as DAOs, can be functional even beyond strictly economic and financial boundaries. It also aims to highlight how the utility of DAOs can extend to the pursuit of the United Nations Sustainable Development Goal 16, on fair and inclusive governance. It intends to show that the implementation of DAOs in the sports sector can offer an innovative model of fair and inclusive governance, replicable in other sectors.