I am kind of busy this week and next working on a homework assignment on network upgrades. Suffice it to say, I am going to be a little busy. However, I have scrounged up enough time over the past few days to work on a script for a video on "What is a DAC?"
Please feel free to review and change this script. Thus far it only covers "Distributed" and "Autonomous", but as you will see toward the end the "Corporation" portion is coming.
I am posting it below:
To understand what a Distributed Autonomous Corporation is, we must first understand what makes it Distributed and Autonomous. For this purpose, I have chosen a project called Project Phoenix…which was created by the Search for ExtraTerrestrial Intelligence Institute (SETI). As the name implies, SETI was searching for extraterrestrial life under the precepts that any alien races with technology similar to ours would also leave a footprint similar to that which is left by our technology. The footprint for which they were searching were a range of radio waves that are emitted by many of our technologies here on earth.
To scan for these footprints, Project Phoenix would need around the clock, powerful computation for every second of every day for years. However, SETI was a non-profit corporation that relied heavily on donations from NASA and other government-funded programs. Due to this bottle-neck in funding, large and expensive centrally controlled server farms they needed for the computation made it cost prohibitive by conventional means.
From this conventional problem arose a rather unconventional solution. This solution was one, if not the first, attempt to enlist individual citizens to donate a part of their Personal Computer’s (PC) computational power to collectively perform the same function as these costly, centralized server farms. Thus it was Decentralized
They asked science-lovers and geeks around the world to download a program that would effectively allow SETI to create their own Distributed version of the cost-prohibitive centralized server farms. This program used their PC’s extra CPU cycles to search for the ET’s footprints.
Once the code was written and compiled into a program, it could be downloaded by the Geeks who wished to help find ET, they only needed to start it to be a productive worker in the network. This program continually ran until the user stopped it or an error occurred. Because this continual production via computation required little to nothing else from the user, it can be called Autonomous
Participation in these projects was extremely high, but the incentive structure relied heavily on people’s curiosity about the existence of Extraterrestrial Life. This is wonderful when doing scientific research for popular movements like finding aliens, curing cancer and aids…etc, but the issue still remains that those who join the network are replacing the central computing infrastructure are paid nothing for their contributions.
This brings us to the Corporation part of DAC. Traditionally, a corporation offers investors and society value in the form of goods produced/sold and/or services rendered—or Value Produced. The value of the corporation is quantified in terms of a designated number of units. These units are in fiat currency, which is both directly and indirectly controlled by Central Authorities.
Currently there are many different fiat currencies, but most of them are ultimately controlled by Centralized Banking structures who loan these pretty (yet “intrinsically” worthless) pieces of paper, at interest, to a nation’s population through that nation's treasury…this puts a nation’s people in constant debt to the Central Banks.
for more on this topic, see Bill Still’s “Money Masters” at the link below: https://www.youtube.com/watch?v=iDtBSiI13fE
Mike Maloney’s “Hidden Secrets of Money”: https://www.youtube.com/results?search_query=mike%20maloney%20hidden%20secrets%20of%20money&sm=1
For a short and sweet, entertaining explanation, “The American Dream”: https://www.youtube.com/watch?v=tGk5ioEXlIM
“Hint: Central Banks make us debt slaves and are owned by private individuals and their families in an Oligarchical structure. If you are not part of their club, you are indirectly their slave.”
Please be honest with your criticisms and/or praise. The Second portion is coming as soon as I can finish my project (hopefully far before the due date as I would prefer to work on the above)