Forming a DAC - Is it safe yet? (re: DPOS 2.0 and accountability issues)

[kenCode]

DACs need to be profitable to have a long-term success

You hit the nail on the head there, that's for sure
 

If you can come up with a profitable business that can be mapped via blockchain (like MUSIC/PLAY/VOTES) you are good to go and propose an upgrade to the protocol ..

Why should anyone have to build a new business first and THEN hope that the Devs will code that feature into our protocol? That's a rhetorical question, but I think you get my point. Add it to the BitShares toolset (like #BlockchainHR) and watch BitShares grow... DAC Builders such as myself don't have to use every feature in the toolkit, but at least we'll have the *choice*
 

- putting tri-folds on the blockchain is not considered profitable but wasteful in terms of bandwidth and storage ..

Not every node on the network needs to host a copy. Look at Storj and Factom. We can utilize those tools without having to reinvent that wheel.
 

- not sure how you want to enforce ANY contract on the blockchain (besides having collateral)

Collateral and multisig (DPOS 2.0 allegedly). If the customer doesn't pay on time, they are fined (similar to the net-30 standards) and eventually their account is frozen by the third-party module that uses the BitShares blockchain. I'm more concerned with storing the other documents and data I have mentioned here though. Contract enforcement is a whole different beast and there's tons of smartcontract companies popping up for that feature right now.
 

- company public info is a good idea .. but for that we need the DNS first .. BitShares could be a decentralized yellow pages platform

I'm talking #BlockchainHR here. DDNS will come, patience...

[bitmeat]

I think your best bet might be to wait for the Ethereum launch. BitShares is nowhere near their original promise of providing a DAC toolkit for everyone.

Until we see a design doc, source code, this is just a pipe-dream.

[xeroc]

DACs need to be profitable to have a long-term success ... If you can come up with a profitable business that can be mapped via blockchain (like MUSIC/PLAY/VOTES) you are good to go and propose an upgrade to the protocol ..

- putting tri-folds on the blockchain is not considered profitable but wasteful in terms of bandwidth and storage ..
- not sure how you want to enforce ANY contract on the blockchain (besides having collateral)
- company public info is a good idea .. but for that we need the DNS first .. BitShares could be a decentralized yellow pages platform

[kenCode]

I know exactly what a DAC is and what it needs to become:
The BitShares blockchain can hold a lot more than just the UIA's for a DAC.
I want to put our #BlockchainHR on there as well (sub-contractor agreements, vendor contracts, company public info, downlodable tri-fold flyers, etc)
 
This is why I mentioned Factom earlier.
 
I have no desire to "register" their company names with any government (unless they do it themselves), purchase a patent or trademark from the USPTO (or any other government)... See what I'm saying? I want a true DAC, registered and run completely from the BitShares blockchain.
 
UIA's are a nice start, but I want quite a bit more from our blockchain than that.

[santaclause102]

MetaExchange is a DAC that runs on the BTS blockchain isn't it?
Doesn't anyone here know how to setup a DAC on the BTS blockchain? Step by step?

A DAC is merely an ANALOGY for what Bitcoin and Bitshares and all "decentralized" blockchain networks are.
The analogy was created as a counteranalogy to Bitcoin's "bitcoins are money (or digital gold) analogy".
This describes well how the term DAC has to be understood: https://letstalkbitcoin.com/a-bitrose-by-any-other-name/
AFTER having read the article above I would watch this: https://www.youtube.com/watch?v=QG-CcbtwKKU

[onceuponatime]

MetaExchange is a DAC that runs on the BTS blockchain isn't it?
Doesn't anyone here know how to setup a DAC on the BTS blockchain? Step by step?

BitShares is a DAC.    The closest thing you can "set up on BTS" is a User Issued Asset backing shares of a regular company.

As far as multi-sig accounts/etc go, I think you will be very happy with what we will be announcing in a couple of weeks.

Whats that? what announcement?

https://bitsharestalk.org/index.php/topic,16447.0.html

[mirrax]

MetaExchange is a DAC that runs on the BTS blockchain isn't it?
Doesn't anyone here know how to setup a DAC on the BTS blockchain? Step by step?

BitShares is a DAC.    The closest thing you can "set up on BTS" is a User Issued Asset backing shares of a regular company.

As far as multi-sig accounts/etc go, I think you will be very happy with what we will be announcing in a couple of weeks.

Whats that? what announcement?

[Riverhead]

Metaexchange is not a DAC. It is neither distributed nor autonomous.

Sent from my Timex Sinclair

[kenCode]

I think you will be very happy with what we will be announcing in a couple of weeks.

 

[Thom]

Ken! Love your enthusiasm, but I don't think you have your head wrapped around the BitShares ecosystem fully quite yet.

On the one hand, what you're trying to do does strike me as possibly needing a separate DAC (and associated blockchain) due to the regulatory issues and identity registration (KYC) issues that may arise. That approach would allow you to do anything you wanted and preserve a completely free & independent BitShares blockchain. BUT CREATING A SEPARATE DAC IS A   M A J O R  UNDERTAKING!

You would do better to implement your vision with the UIA mechanism which gives you full control of the tokens you name and you issue, including revocation and delegated allocation. The UIA functionality of the BitShares ecosystem was recently (version .81 I believe) updated to provide all the functionality necesary to support a fully regulatory compliant gateway. Plus, UIAs are available for use RIGHT NOW!

But I also agree with the sentiment already expressed here, that you should hold off from moving forward with such a major initiative as you describe until the "next big thing" hits the streets. It could save you much gnashing of teeth and wasted effort, and avoid having to re-educate your team and their customers when it does arrive.

[ebit]

The first step is to set up profit model;
The second step is to set up business .  BTS is  tool of the business 。

[bytemaster]

MetaExchange is a DAC that runs on the BTS blockchain isn't it?
Doesn't anyone here know how to setup a DAC on the BTS blockchain? Step by step?

BitShares is a DAC.    The closest thing you can "set up on BTS" is a User Issued Asset backing shares of a regular company.

As far as multi-sig accounts/etc go, I think you will be very happy with what we will be announcing in a couple of weeks.

[kenCode]

MetaExchange is a DAC that runs on the BTS blockchain isn't it?
Doesn't anyone here know how to setup a DAC on the BTS blockchain? Step by step?

[Xeldal]

what exactly is YOUR definition of a DAC?

I/we am setting up 2 DAC's here in Munich:
...
The plan is to put both on the BitShares blockchain right now, but that could change if, well, you know why.

I don't think this is possible yet. It was briefly talk about, creating the possibility of DAC's within DAC's but I havn't heard anything more about it.

[kenCode]

No, but that may be an option for us once they're setup.
I need somebody experienced to help me get them setup, please.