Forum Home
    • Register
    • Login
    • Search
    • Recent
    • Tags
    • Popular

    Distributed Autonomous Corporations {FTCDAC}

    Feathercoin Discussion
    5
    11
    1476
    Loading More Posts
    • Oldest to Newest
    • Newest to Oldest
    • Most Votes
    Reply
    • Reply as topic
    Log in to reply
    This topic has been deleted. Only users with topic management privileges can see it.
    • G
      gary last edited by

      I have used the document below to explain what a Dac is and not.

      The future of the decentralized web

      Distributed Autonomous Corporations (DACs), or Decentralized Autonomous Companies, are a generalization of the concept of a crypto-currency where the currency is backed by the services its miners perform rather than a real-world commodity like gold, oil, or, ahem, thin air. If we can barter for goods and services, why can’t we back currencies with goods or services?

      DACs may be simultaneously viewed as crypto-currencies and crypto-equities (unmanned businesses). As businesses, they perform services intended to be valuable to their customers. Such services might include money transmission (Bitcoin), asset trading (BitShares), domain name services (DomainShares), or a thousand other business models sure to emerge as people realize that DACs are not mere â€Å"altcoins”.

      DACs pay for the services they need (like computer resources and bandwidth) with shares of their own company â€Å"stock”. They charge for their services using those same shares. Finally, they transfer all profits they earn to their shareholders denominated in those same shares. To the extent that their services are in demand, those same shares will be in demand. Just like a brick and mortar and flesh and blood company.

      To the outside world a DAC is nothing but a crypto-currency backed by the value of the services it provides. But as owners of shares in a DAC, you may be entitled to a share of the profits that DAC earns from providing those services. Every DAC will have its own terms and conditions. You can always choose to view your DAC shares polymorphically – either as spendable coins or as shares in a profitable, perhaps dividend-paying business. Just like light can be viewed as both a particle and a wave.

      Bitcoin itself can be viewed as an early form of DAC. We are generalizing the concept for use in the open source community, building on Bitcoin’s proven technology. Bitcoin could be reimplemented as a full open standards-compliant DAC. Perhaps someday it will.

      Distributed Autonomous Corporations have many advantages. DACs are…

      Corporations – They are, and of a right ought to be, free and independent persons.
      Autonomous – once up to speed; they no longer need (or heed) their creators.
      Distributed – there are no central points of control or failure that can be attacked.
      Transparent – their books and business rules are auditable by all.
      Confidential – customer information is securely (and incorruptibly) protected.
      Trustworthy – because no interaction with them depends on trust.
      Fiduciaries – acting solely in their customers’ and shareholders’ interests.
      Self-regulating – they obey their own rules like, well, robots.
      Incorruptible – no one can exercise seductive or coercive influence over them.
      Sovereign – over their digital resources. They don’t need governments to exist.
      Metaphorically, DACs work very much like familiar BMFB corporations.

      They can be non-profit, for-profit or both at the same time!
      You can access their products and services on-line.
      You can buy and sell their stocks and bonds.
      Shareholders can earn dividends; bondholders can earn interest.
      Behaviors, rules and by-laws can only change by stakeholder majorities.
      After paying its expenses to those who supply its operating resources, all remaining profits are autonomously distributed to stakeholders according to each DAC’s published by-laws. Other DAC developers may implement and publish their own open source by-laws under their own business models. How well these business rules are received will affect the ability of their DACs to compete in the free marketplace.

      {The Author and credit for this work above is Stan Larimer}

      What i propose using the above statement is a DAC that decentralizes the electricity supply from energy companies to the customers at the cheapest price?
      We track the price of electricity per kilowatt to FTC, miners mine FTC, anyone can buy electricity with FTC. asset trading {FTCshares} or assets {Dacshares}.
      Its just an idea, i do have more information, but i wanted to see what the Feathercoin community thought.
      Please fill in any gaps. Some of the wording might seem strange, but if you understand what the author is saying certain words have regulations.

      Regards

      Gary

      1 Reply Last reply Reply Quote 0
      • G
        gary last edited by

        Sorry posted in wrong category. There are some users who know me from last meetup, but a lot of you don’t know me.
        Everyone knows my friend and business partner netnerd. I wanted to let you know who i am.
        regards
        Gary

        1 Reply Last reply Reply Quote 0
        • T
          Thytos last edited by

          I’m still not sure if I fully grasp the idea here, but as far as I can tell, I like it: being able to relate FTC to other commodities. And having DACs in FTC is like having LINK or FLUX which will add value to the coin, but I’d like to ear other better fundamented answers :)

          1 Reply Last reply Reply Quote 0
          • R
            Ruthie last edited by

            [quote name=“gary” post=“57785” timestamp=“1391795045”]
            Sorry posted in wrong category. There are some users who know me from last meetup, but a lot of you don’t know me.
            Everyone knows my friend and business partner netnerd. I wanted to let you know who i am.
            regards
            Gary
            [/quote]

            Hey Gary, you coming to the next meet up on Feb 22nd?

            1 Reply Last reply Reply Quote 0
            • G
              gary last edited by

              [quote name=“Ruthie” post=“57808” timestamp=“1391799705”]
              [quote author=gary link=topic=7483.msg57785#msg57785 date=1391795045]
              Sorry posted in wrong category. There are some users who know me from last meetup, but a lot of you don’t know me.
              Everyone knows my friend and business partner netnerd. I wanted to let you know who i am.
              regards
              Gary
              [/quote]

              Hey Gary, you coming to the next meet up on Feb 22nd?
              [/quote] Hi Ruthie yes i will be at the next meetup, looking forward to it.
              regards
              gary

              1 Reply Last reply Reply Quote 0
              • R
                Ruthie last edited by

                [quote name=“gary” post=“57810” timestamp=“1391801261”]
                [quote author=Ruthie link=topic=7483.msg57808#msg57808 date=1391799705]
                [quote author=gary link=topic=7483.msg57785#msg57785 date=1391795045]
                Sorry posted in wrong category. There are some users who know me from last meetup, but a lot of you don’t know me.
                Everyone knows my friend and business partner netnerd. I wanted to let you know who i am.
                regards
                Gary
                [/quote]

                Hey Gary, you coming to the next meet up on Feb 22nd?
                [/quote] Hi Ruthie yes i will be at the next meetup, looking forward to it.
                regards
                gary
                [/quote]

                Nice one :) in the mean time I’ll try and understand your op :)

                1 Reply Last reply Reply Quote 0
                • G
                  gary last edited by

                  [quote name=“Thytos” post=“57788” timestamp=“1391795654”]
                  I’m still not sure if I fully grasp the idea here, but as far as I can tell, I like it: being able to relate FTC to other commodities. And having DACs in FTC is like having LINK or FLUX which will add value to the coin, but I’d like to ear other better fundamented answers :)
                  [/quote] Hi Thyto, thanks for your reply. I will try to explain the basics, the infrastructure for the power grid is already there, we just need some very clever coders to right the software to route the power to users. We start with micro generators of energy, solar, wind ext , people who produce there own power and then sell the rest to the grid. To me it seems a very strange thing to do.
                  Example if Mr A produces electricity for himself and has a few kilowatts of power left, why dose he have to sell the rest to the grid, why cant he sell the excess to his next door neighbor?
                  This is where the clever people come in.
                  If you apply this simple question to a street, town, city, country, world.
                  Once the first software based power grid is setup, there will never be one single point of failure.
                  AI software learning agents would be a good idea.

                  Regards

                  Gary

                  1 Reply Last reply Reply Quote 0
                  • G
                    gary last edited by

                    [quote name=“Ruthie” post=“57811” timestamp=“1391801664”]
                    [quote author=gary link=topic=7483.msg57810#msg57810 date=1391801261]
                    [quote author=Ruthie link=topic=7483.msg57808#msg57808 date=1391799705]
                    [quote author=gary link=topic=7483.msg57785#msg57785 date=1391795045]
                    Sorry posted in wrong category. There are some users who know me from last meetup, but a lot of you don’t know me.
                    Everyone knows my friend and business partner netnerd. I wanted to let you know who i am.
                    regards
                    Gary
                    [/quote]

                    Hey Gary, you coming to the next meet up on Feb 22nd?
                    [/quote] Hi Ruthie yes i will be at the next meetup, looking forward to it.
                    regards
                    gary
                    [/quote]

                    Nice one :) in the mean time I’ll try and understand your op :)
                    [/quote] I have gave a better explanation well i hope i have

                    1 Reply Last reply Reply Quote 0
                    • M
                      mhamilton79 last edited by

                      [quote name=“Ruthie” post=“57808” timestamp=“1391799705”]
                      Hey Gary, you coming to the next meet up on Feb 22nd?
                      [/quote]

                      Where is the next meet up held? Where can i find the details? I might come along if its near me :D

                      1 Reply Last reply Reply Quote 0
                      • R
                        Ruthie last edited by

                        [quote name=“mhamilton79” post=“57828” timestamp=“1391803904”]
                        [quote author=Ruthie link=topic=7483.msg57808#msg57808 date=1391799705]
                        Hey Gary, you coming to the next meet up on Feb 22nd?
                        [/quote]

                        Where is the next meet up held? Where can i find the details? I might come along if its near me :D
                        [/quote]

                        Hi the next meet is in Oxford UK again at The Oxford Blue, where are you from?

                        1 Reply Last reply Reply Quote 0
                        • N
                          netnerd Regular Member last edited by

                          Hey gaz, didn’t see this thread but from what I understand of the idea of attatching ftc to dac’s I like it.

                          Looks like it will just be me and you making the journey to Oxford on the 22nd me bro can’t make it :(

                          :D :D :D :D :D :D :D :D :D :D

                          1 Reply Last reply Reply Quote 0
                          • First post
                            Last post