DACs - page 2. | Bitcointalksearch.org

coinrevo

member

Activity: 70

Merit: 10

Here is a recent article, quoting Mike. This uptake in the concept can be attributed to the last couple of weeks.

http://www.economist.com/blogs/babbage/2014/01/computer-corporations

Quote

Others disagree. "Lots of people will throw the term [DACs] around without really understanding it," says Mike Hearn, a Google engineer and Bitcoin developer. He prefers the term "autonomous agent" as a more useful metaphor. For such agents to exist, he says, "you need trusted computing to work well and it never has. So it'd require new hardware to be deployed."

In Mr Hearn's view, no true DAC currently exists. He speculates that the first will be some form of decentralised online storage, a kind of "distributed DropBox".

Interestingly the articles start with this:

Quote

MITT ROMNEY, the defeated American presidential candidate, once declared while campaigning that “corporations are people"

coinrevo

member

Activity: 70

Merit: 10

thanks for the info. interesting, I didn't know gmaxwell's storJ proposal. The thread is here: https://bitcointalksearch.org/topic/bitcoin-the-enabler-truly-autonomous-software-agents-roaming-the-net-53855

In some ways these concepts could have only evolved after BTC. I assume bitshares were the first attempt at constructing these, although storJ refers to something quite different.

I think a lot will be gained by understanding that cooperations are legal constructs. The article above explicitly refers to the problem of multi-jurisdictions. agency granted by law (sometimes even called artificial people), implies rights and responsibilities. Is AAPL a US company? it operates globally so it is a multi-national. but there is no entity granting rights to multi-national cooperations, besides nation to nation agreements.

Mike Hearn

legendary

Activity: 1526

Merit: 1134

"DAC" is Vitalik Buterin's rebranding of what I started calling agents:

https://en.bitcoin.it/wiki/Agents

That page contains a link to the first discussion I'm aware of around the concept, in which Gregory Maxwell described a system he called StorJ.

coinrevo

member

Activity: 70

Merit: 10

there is some buzz about the concept of a distributed autonomous corporation. I wanted to find out who invented the concept, but as these so called whitepapers floating around don't use scientific standards for citation I haven't been able to identify where the term comes from. google scholar doesn't return any reference on a keyword search.

Szabo wrote this paper called "Multinational Small Business " in 1993, which comes very close to the concept: http://szabo.best.vwh.net/multi_small.html . So the best of my knowledge this is the source of the concept, which might have roots in earlier works of art. The idea is bit different, and more well thought of, in that in refers specifically to the multi-jurisdiction problems, and acknowledges that cooperations are legal constructions, not just bits on the internet.

Quote

The rise of virtual nations. Multinational small businesses might speak entirely English, Japanese, Mandarin, etc. Their employees might live primarily within a single cultural milieu, dispersed thru a large number of small ethnic communities around the world, keeping close culture-specific, multimedia communications links between the communities.
[...]
Businesses will learn to share the information needed to attract investment and sales, only to those investors and customers, without jeopardizing their legal status in any major market in the maze of obscure jurisdictions they operate in. The companies that first bring these capabilities to international small business at affordable prices stand to reap large fortunes. The new paradigm of smart contracts may provide the cornerstone for building these tools.

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