3 ms·

DARC: Start a company on blockchain, write your own laws

19 points by lidangzzz 4y ago

creamyhorror 4y ago
So, an implementation of company-constitution-as-code. As usual, flexibility and updates to the by-laws/core program is an issue, but it's interesting to see iterated experimentation on the concept. Enforcing various higher-level contracts e.g. compliance with corporate tax laws of specific countries and declaration of operating income, etc. would be an additional direction to explore.
- lidangzzz 4y ago
  Yes, so it's necessary to build a virtual machine on top of EVM, instead of simple proposal-vote-execution mode is necessary. Also all the restrictions/laws/rules can be easily represented and described using a new programming language, "By-Law Script", which makes it more flexible to compose different kinds of laws. And thanks for your ideas, it would be really interesting that we can build some tax laws on top of crypto and DARC, as well as more scenario about external regulations.
RaiyanYahya 4y ago
Very interesting. Seems like a perfect idea for the blockchain. Staring the repository.
- deleted 4y ago
  [deleted]
- lidangzzz 4y ago
  Thanks!
theaussiestew 4y ago
Myself (and I’m sure many others) are looking for an organisational structure that’s extraterritorial - that is, some kind of company structure that sits out of the jurisdiction of any single country, much like Bitcoin sits outside the domain of any one country’s reserve bank. This project doesn’t seem like it but I wish it was.
- stareatgoats 4y ago
  I'm also interested in this, but I wonder if it will ever come to pass, at least in an absolute sense. Bitcoin doesn't really sit outside the banking system either, it is tolerated by it (for now). My own (fleeting) thoughts regarding an extraterritorial jurisdiction currently is rather along the lines of a "dual-citizenship" (or triple+?) model, at least in the short to mid term. The "virtual" nation(s) would have to accept the supremacy of a "territorial" state of residence at every juncture. That still might leave a lot of room for "virtual lawmaking", and over time the balance between the two could possibly be shifted in small steps.
  - ElevenLathe 4y ago
    IMO this is all Gibsonian fantasy until somebody finds a way to live extraterritorially or else always practice perfect OpSec, meaning (among other things) that you keep your "extraterritorial" business totally disjunct from your actual personal finances, with no flow of value between them at all. This means you can't invest in the business initially or use the profits for meatspace purchases. At that point, why bother doing it at all? Remember, if you screw up then Federal agents will come and arrest you if your "extraterritorial" business selling zero-days on the dark web comes to their attention. They don't care if it's a Jersey company whose officers are all Grenadian nationals that you've hired via the blockchain because you live in Tulsa, and they will put you in prison.
    - lidangzzz 4y ago
      Actually you can always be anonymous, just like most of the web3 projects, and the federal government don't know who you are, in US or in Thailand, if and only if you don't sell the tokens on coinbase and withdraw the cash via Wells Fargo
      - ElevenLathe 4y ago
        Right, you can be anonymous, but only if the money you make anonymously is never used to pay your rent. What's the point?

19 points by lidangzzz 4y ago

So, an implementation of company-constitution-as-code. As usual, flexibility and updates to the by-laws/core program is an issue, but it's interesting to see iterated experimentation on the concept. Enforcing various higher-level contracts e.g. compliance with corporate tax laws of specific countries and declaration of operating income, etc. would be an additional direction to explore.

lidangzzz 4y ago
Yes, so it's necessary to build a virtual machine on top of EVM, instead of simple proposal-vote-execution mode is necessary. Also all the restrictions/laws/rules can be easily represented and described using a new programming language, "By-Law Script", which makes it more flexible to compose different kinds of laws. And thanks for your ideas, it would be really interesting that we can build some tax laws on top of crypto and DARC, as well as more scenario about external regulations.

RaiyanYahya 4y ago

Very interesting. Seems like a perfect idea for the blockchain. Staring the repository.

deleted 4y ago
[deleted]
lidangzzz 4y ago
Thanks!

theaussiestew 4y ago

Myself (and I’m sure many others) are looking for an organisational structure that’s extraterritorial - that is, some kind of company structure that sits out of the jurisdiction of any single country, much like Bitcoin sits outside the domain of any one country’s reserve bank. This project doesn’t seem like it but I wish it was.

stareatgoats 4y ago
I'm also interested in this, but I wonder if it will ever come to pass, at least in an absolute sense. Bitcoin doesn't really sit outside the banking system either, it is tolerated by it (for now). My own (fleeting) thoughts regarding an extraterritorial jurisdiction currently is rather along the lines of a "dual-citizenship" (or triple+?) model, at least in the short to mid term. The "virtual" nation(s) would have to accept the supremacy of a "territorial" state of residence at every juncture. That still might leave a lot of room for "virtual lawmaking", and over time the balance between the two could possibly be shifted in small steps.
- ElevenLathe 4y ago
  IMO this is all Gibsonian fantasy until somebody finds a way to live extraterritorially or else always practice perfect OpSec, meaning (among other things) that you keep your "extraterritorial" business totally disjunct from your actual personal finances, with no flow of value between them at all. This means you can't invest in the business initially or use the profits for meatspace purchases. At that point, why bother doing it at all? Remember, if you screw up then Federal agents will come and arrest you if your "extraterritorial" business selling zero-days on the dark web comes to their attention. They don't care if it's a Jersey company whose officers are all Grenadian nationals that you've hired via the blockchain because you live in Tulsa, and they will put you in prison.
  - lidangzzz 4y ago
    Actually you can always be anonymous, just like most of the web3 projects, and the federal government don't know who you are, in US or in Thailand, if and only if you don't sell the tokens on coinbase and withdraw the cash via Wells Fargo
    - ElevenLathe 4y ago
      Right, you can be anonymous, but only if the money you make anonymously is never used to pay your rent. What's the point?