I personally don't use DAC, I call it Virtual Corporations. Others did apply this term to it, and it still seems to linger but I think at this point the distinctions are fairly clear. The project is still in it's early stages so we're quickly working these things out.
Seems the primary difference here is that VCorps involve input from people, whereas DACs(in theory) operate automatically. I still haven't seen any clear examples of how DACs can be used in real-world situations.
Not sure how the Virtual Corporations would have any different legal status than a DAC. Perhaps you can explain your statement?
-bm
Biggest difference with the announced bitshares DACs (apart from maybe the music one) is that they are completely self-contained. This way the legal issues are circumvented for the moment, because there is no physical connection to the real world. People might be prepared to offer services for or interact with the DAC in trade for stake in or benefit from the use of it, but they are not really employed by or working for the DAC in the usual sense. Doesn't mean that won't happen in the future, but for the near future the DACs aren't physically stepping on toes just yet.
they also haven't left the drawing board? I don't think you've established here or elsewhere that DACs have some sort of inherent legal advantage. Seems most of these claims are speculative if not mythical.
It might very well be that I'm not grasping what your doing with Virtual Corporations, but it sounds a lot like a traditional corporation with employees and management and things like that. I also assume that your corporations are not aimed solely towards products/services entirely inside of the world of the blockchain. If your virtual corporations are not completely virtual and depend on employees, that will most likely lead to legal and government issues. It will in my neck of the woods at least. I wasn't trying to critique your project, but I do think you are taking the monster head on and I don't expect it to just roll over and die. I'm also interested into seeing your solutions and how those might work better or at least are able to compete effectively with traditional centralized corporations.
It's not clear to me how you can build something valuable out of some inert script on the blockchain? You don't think that's going to be exploitable?
I ran across this yesterday, I found it hilarious:
http://www.beetcoin.com/content/images/2014/Feb/BM_PTS_2.PNGPersonally, and that might just because of my own limitations, I'm not convinced everything works better on the blockchain and I'm a bit worried that a lot of people are engineering spectacular space-pens while not actually looking at practicality and simple solutions first. Might be because of my background and past experiences, that I'm on the skeptical side when looking at things like this. I found that getting people on the same page when they are physically present in the same room can be pretty damn challenging already, but lengthening communication lines added a whole new dimension to that challenge.
seems here you are trying to rebound some criticisms I made elsewhere of some other projects in this space. There's nothing out-of-touch about VCorps, they offer a very useful tool that is entirely feasible to implement.
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