As everyone has probably discovered when they design a DAC that one of the hardest things to solve is how a DAC can hire someone to perform tasks that require human judgement. Memory Coin 2.0 was the first attempt at such a concept where there were several positions for which the users could vote to hire specific roles. As everyone quickly learned, this voting process was subject to manipulation.
Since discovering the solution to hiring Insurance Adjusters for the Insurance DAC I have been thinking about how we can apply that process in a more general manner and thus open up the door to many more DACs. For those of you who have not read about the Insurance DAC, let me review the problem:
1) We need an Insurance Adjuster to evaluate claims and decide upon a payout.
2) Claims may be private and most people do not have access to the information necessary to make a solid judgment. This rules out using a prediction market to establish the result.
3) If we were to select someone to have authority to payout claims, then how do we prevent complete fraud? We want someone who will deny fraudulent claims, pay out fairly for legitimate claims, and not pay any more than necessary.
To solve this problem I came up with the idea of using a prediction market (BitAsset) to set the upper limit on total outstanding payouts that may be authorized by the Insurance Adjustor at any one time, and I used a 30 day delay to give the market time to identify gross fraud and repeal the license and thus cancel any pending awards.
This general idea can be used on a broader scale to have the DAC hire anyone to do anything. So if a DAC needs to hire a software developer to maintain the software and fix bugs, then many different developers would have to 'interview' with the market and get enough support (market depth) for a BitAsset to be created that priced their salary. The salary would be paid out of revenues (or via raising capital by the issuance of new shares). The salary would be paid daily and with 30 day waiting period. The salary rate would equals the lowest salary in the 30 days after the work was performed as represented by the BitAsset for that developer. If the developer slacks off or acts in a way the market does not approve then his salary will go to 0.
Here is the cool thing, anyone could apply for any job without having to define 'roles'. Some jobs may become entire departments where the DAC hires the department heads and gives them a budget they are trusted with.
With this design pattern we now have the means for a DAC to do literally anything because it has a way to interview, try, and they hire anyone for any job and even the ability to define new jobs as necessary without any centralized control.