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Self propagating code can perform all the functions of a corporation. The only difference is that in the past the code had no way to acquire goods and resources
by cloudjacker 10y ago
Self propagating code can perform all the functions of a corporation. The only difference is that in the past the code had no way to acquire goods and resources from humans and other corporations because it couldn't control and transmit value.
Now code can.
The DAO is a start, code can do everything the DAO does.
- vkou 10y agoWhat stops non-blockchain code from making purchases, hiring people, etc? Just because it uses a third party (A bank account) to store value doesn't make my WidgetFactoryFactory AI any less of an autonomous corporation.
- cloudjacker 10y agoThat entirely depends on if we are talking about this DAO or DAOs in general. A DAO focused on gaining revenue doesn't need to hire people to achieve that. There a decentralized asset exchanges where other companies have raised capital. A DAO could access those to buy shares completely programmatically, for example. It could trade oil futures till eternity if it wanted. It could create a contract for an agent at a particular address that promises payment for the construction of a robot factory in Shenzen, in that example a human would be the agent on the other side of that address, but the DAO doesn't need to know that.
- homogeneous 10y agoHow does the DOA know that the robot factory in Shenzen was built successfully and to specification?
- cloudjacker 10y agoPresumably when new robots start executing based on the signature of the smart contract and conducting tasks in line with the contract. The main goal would be the new machines, not necessarily the means to the end.
- homogeneous 10y agoPresumably when new robots start executing based on the signature of the smart contract and conducting tasks in line with the contract. What if they don't build the robots but instead execute whatever payload the contract anticipates using a laptop?
- WeaselNo7 10y agoIt could hire human agents to inspect and confirm. I guess you could treat the DAO as an exceptional manager who has no domain knowledge at all, but knows to delegate to people with domain knowledge.
- homogeneous 10y agoWhat if the human employees lie, are incompetent, or collude with the subject of their inspection in exchange for part of the pay out?
- deftnerd 10y agoI'm sure that eventually services will start up that target DAO's as consumers directly, but until that time it seems that there is an opportunity for a company to start up that could provide a "translation layer" for DAO's. It could provide the ability to hire marketing services, rent servers, perform accounting and auditing, hire employees, perform security audits, provide legal services, and interface with "real world" legacy companies like manufacturers and shipping services.