The crypto group ConstitutionDAO wants to auction off a rare 1787 copy of the US Constitution. The team says, at the time of writing, than $ 40 million (35 million euros) cryptocurrency donations.
DAO stands for “Decentralized Autonomous System”. The team’s idea is to enable individuals to register their transactions and business terms on Blockchain, the same basic technology that operates cryptocurrencies such as Bitcoin and Ethereum, and to bring individuals together to purchase and share assets.
The constitution states that the DAO plans to “put the constitution in the hands of the people” and hopes to raise at least $ 45 million. However, it is unclear how the ownership of the document will be resolved if the offer is successful.
Thirteen copies of the U.S. Constitution, printed in 1787, are known from the 500 editions printed after the text was approved at the Constitutional Conference in Philadelphia, Pennsylvania.
The auction of one of those documents takes place on Thursday Auctioneer Sotheby’s. The model for sale is one of two models not in a company’s collection, Sotheby’s said.
Sotheby’s told the BBC that the group was “not a legally recognized entity in most jurisdictions.
As a result, the program has created a US limited liability company to participate anyway. (mah)
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