A DAC is a Sovereign Co-op

[bytemaster]

Sovereign: one that is sovereign; especially :  an autonomous state
                 freedom from external control

co–op noun \ˈkō-ˌäp, kō-ˈ\
: a business or organization that is owned and operated by the people who work there or the people who use its services


Discuss..

Why redefine what a DAC is?

Perhaps some DACs can function as sovereign co-ops but not all.

Decentralized autonomous cooperative is just another kind of DAC which is probably more acceptable to different communities who don't like corporations.

A DAC is not well defined based upon the types of questions we receive.  Many people do not like corporations.   Everyone thinks a DAC is just a way of IPOing your centralized company.     The C in DAC is best understood as a co-op, ie: it is a more accurate description of what a DAC actually is..... while all co-ops are companies, not all companies are co-ops.  Understanding that a DAC can only serve its members and is this more like a co-op than a traditional company which services people outside its company.

[luckybit]

Sovereign: one that is sovereign; especially :  an autonomous state
                 freedom from external control

co–op noun \ˈkō-ˌäp, kō-ˈ\
: a business or organization that is owned and operated by the people who work there or the people who use its services


Discuss..

Why redefine what a DAC is?

Perhaps some DACs can function as sovereign co-ops but not all.

Decentralized autonomous cooperative is just another kind of DAC which is probably more acceptable to different communities who don't like corporations.

[bytemaster]

A DAC is Sovereign over its blockchain and that is all. 

The owners in theory can make any change they like because they can always hard-fork.   The difference is that if there is a disagreement 2 companies come out of it rather than one and the market will settle it.   

A DAC is only sovereign to the extent that there is freedom of speech and ability to broadcast transactions, governments are still Sovereign over the infrastructure of the internet and communication. 

But the goal of DACs is to make the owners sovereign over their assets.  Sovereign over their trading, hedging, domains, and gaming, and money.

Thus what we are doing is engineering individual sovereignty via encryption, blockchains, and consensus.

[Mrrr]

Lol, no, not discuss: elaborate

I understand what you are pointing at. Sovereignty is a bit of a problematic concept though. Has been discussed by wise men with respectable beards since the dawn of times and they still do not agree.

You could define a DAC as a co-op that by definition, autonomously, acts in the best interest of its owners.

For as far as I understood it, the 'autonomous' in DAC serves a double purpose. It expresses the limits to the the extent in which external forces can influence the Company, but it also expresses the limits to the extent in which the owners (internal forces) can influence the Company.

If you use sovereign in the sense that the owners cannot influence the 'organization or business' this is not correct. If you use sovereign in the sense that forces apart from the aforementioned owners cannot influence the 'organization or business' ; might as well stick with 'autonomous'

The limit in which the 'internal forces' can control the company is what is of value in a DAC. Mondragon, 'the Miracle of Basque Country' (or the ONLY business that seemed to have survived the crisis in Spain without a scratch), went bust because the internal forces were allowed to exert too much control over it.

I hope I'm making sense here.

[bytemaster]

Sovereign: one that is sovereign; especially :  an autonomous state
                 freedom from external control

co–op noun \ˈkō-ˌäp, kō-ˈ\
: a business or organization that is owned and operated by the people who work there or the people who use its services


Discuss..