Hiring an attorney does not centralize an entity and does not “put a target” on an entity—in point of fact, the ATOM token has already been targeted in an SEC lawsuit, albeit indirectly.
(Note as well: The CFTC was fully able to prosecute Ooki DAO, and in fact they got default judgments against Ooki DAO because they did not hire representation or appear in court—they are now ordering the total shutdown of Ooki DAO, with civil and potential criminal liabilities for those who remain.)
If the Hub is going to continue pursuing “ATOM Economic Zone” plans through ICS or AADAO, it absolutely needs an attorney or legal firm to advise stakers on these substantial, complex commercial arrangements using other people’s money and the Hub’s (and/or validators’ and AADAO members’) potential compliance requirements and regulatory exposure.
There is no magically sovereign Internet-land which escapes the reach of real-world jurisdictions. Even sovereign real-world jurisdictions must comply to some degree with each other, or they court serious economic and other blowback. There will always be neighbors, even in Web3. This is not inconsistent with the vision and understanding of Web3’s founders:
Eric Hughes: “For privacy to be widespread it must be part of a social contract. People must come and together deploy these systems for the common good. Privacy only extends so far as the cooperation of one’s fellows in society.” (A Cypherpunk’s Manifesto)
Timothy C May: " Reputations will be of central importance,
far more important in dealings than even the credit ratings of
today." (The Crypto-Anarchist’s Manifesto)
Nick Szabo: “Blockchains, although reducing trust far more than any other network protocols, are still far from trustless. […] blockchains also need a human governance layer[.]” (Money, Blockchains, and Social Scalability)
Sometimes in Cosmos, devs trot out the line that we have to “move fast and break things,” but this is precisely the opposite of the genuine Web3/crypto revolution, which is the sacrifice of efficiency for security: there is nothing efficient or “moving fast” about spraying the same transactions to identical databases all over the world over and over and over, but this profound inefficiency is what secures blockchains.
We should maintain the Web3 ethos: Attorneys and legal review are highly inefficient, no doubt, but they also provide the most security for our projects. It weakens the value proposition of $ATOM and the Hub to be exposed to potential enforcement actions, far more than the potential value accrual of “moving fast and breaking things.”