I've been casually lurking the XCP forum, and I ran across an idea that might be very powerful for BitShares-family DACs if it works.
Background for the uninitiated: Counterparty (XCP) is a crypto-2.0 that's like Mastercoin: it's a protocol built on top of bitcoin and it's intended to be a user-defined asset platform with a trustless, distributed exchange. It kinda works, but building the coin on top of bitcoin has caused some problems.
One of the big problems with XCP is that apparently the XCP protocol can't escrow BTC. So if I go onto the exchange and try to offer BTC for XCP, the counterparty protocol has no way to force me to pay the BTC that I've offered. So if my order matches with someone, I have to go in and manually make the BTC payment to my order match. It's annoying and complicated. They've tried to work around the problem with fees and some other hacks, but none of it works very well, and it all comes down to the fact that XCP can't escrow BTC.
On a slightly-different topic, one of the coolest ideas I've read on the XCP forum is what someone called "burn-to-rebirth." They were discussing moving XCP off bitcoin onto some other coin (oddly, Doge seemed to be their top choice), and someone said "why not put a version of XCP on top of every coin?" Their idea was that on the bitcoin XCP chain, you could execute what they called a "burn-to-rebirth" transaction, and this transaction would reference a Dogecoin address. This transaction would destroy the XCP on the bitcoin chain, and then the XCP protocol running on the Doge chain would see the burn-to-rebirth transaction and create an equal amount of XCP on the doge chain and credit it to the doge address specified. Here's where I read the idea: https://forums.counterparty.co/index.php/topic,195.msg1517.html#msg1517
I don't know if it's even remotely feasible - but it would be amazing if it worked, because then you'd be able to trustlessly transfer assets from one coin to another. XCP would be a bridge from blockchain to blockchain. One of the problems is the escrow issue I mentioned above - none of the blockchains are designed to allow XCP to escrow their native currencies.
Here's how this relates to Bitshares: It would be fantastic to be able to send assets back and forth from one Bitshares product to another; take my lottery winnings from Lotto and invest them in Bitshares X. Could a burn-to-rebirth type transaction be defined in Bitshares products? I realize that you'd probably need a bunch of super-nodes on the network; nodes that run all bitshares products on a single machine and run some meta-protocol that can facilitate the transfer of assets from chain to chain. It would probably be very difficult to avoid centralization here, but if the incentives are structured properly it might work fine.
It seems like you could do this without even building the meta-protocol right now; just make sure that each Bitshares product supports the things that such a meta-protocol would need. Maybe this could just be the ability for some XCP-like protocol to escrow each Bitshares chain's native currency.
Have I been clear enough that anybody understands? Does anybody think this might be workable?