Autonomous corporation “The DAO” has become the biggest crowdfunded project

Re:Autonomous corporation “The DAO” has become the biggest c... by vkou on Monday May 16, 2016 @04:48PM (#11709496)

What stops non-blockchain code from making purchases, hiring people, etc? Just because it uses a third party (A bank account) to store value doesn't make my WidgetFactoryFactory AI any less of an autonomous corporation.

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Re:Autonomous corporation “The DAO” has become the biggest c... by cloudjacker on Monday May 16, 2016 @05:18PM (#11709705)

That entirely depends on if we are talking about this DAO or DAOs in general.

A DAO focused on gaining revenue doesn't need to hire people to achieve that.

There a decentralized asset exchanges where other companies have raised capital. A DAO could access those to buy shares completely programmatically, for example. It could trade oil futures till eternity if it wanted. It could create a contract for an agent at a particular address that promises payment for the construction of a robot factory in Shenzen, in that example a human would be the agent on the other side of that address, but the DAO doesn't need to know that.

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Re:Autonomous corporation “The DAO” has become the biggest c... by homogeneous on Monday May 16, 2016 @05:50PM (#11709920)

How does the DOA know that the robot factory in Shenzen was built successfully and to specification?

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Re:Autonomous corporation “The DAO” has become the biggest c... by cloudjacker on Monday May 16, 2016 @06:57PM (#11710269)

Presumably when new robots start executing based on the signature of the smart contract and conducting tasks in line with the contract. The main goal would be the new machines, not necessarily the means to the end.

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Re:Autonomous corporation “The DAO” has become the biggest c... by homogeneous on Tuesday May 17, 2016 @11:41AM (#11714544)

Presumably when new robots start executing based on the signature of the smart contract and conducting tasks in line with the contract.

What if they don't build the robots but instead execute whatever payload the contract anticipates using a laptop?

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Re:Autonomous corporation “The DAO” has become the biggest c... by WeaselNo7 on Tuesday May 17, 2016 @06:07AM (#11712365)

It could hire human agents to inspect and confirm. I guess you could treat the DAO as an exceptional manager who has no domain knowledge at all, but knows to delegate to people with domain knowledge.

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Re:Autonomous corporation “The DAO” has become the biggest c... by homogeneous on Tuesday May 17, 2016 @11:24AM (#11714412)

What if the human employees lie, are incompetent, or collude with the subject of their inspection in exchange for part of the pay out?

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Re:Autonomous corporation “The DAO” has become the biggest c... by fudged71 on Tuesday May 17, 2016 @07:05PM (#11718359)

Funny enough, these autonomous anonymous corporations will require the exact opposite to carry out many trust-required operations

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Re:Autonomous corporation “The DAO” has become the biggest c... by fudged71 on Tuesday May 17, 2016 @07:04PM (#11718354)

It's inspectors all the way down. Recursive inspection.

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Re:Autonomous corporation “The DAO” has become the biggest c... by deftnerd on Tuesday May 17, 2016 @02:22AM (#11711661)

I'm sure that eventually services will start up that target DAO's as consumers directly, but until that time it seems that there is an opportunity for a company to start up that could provide a "translation layer" for DAO's.

It could provide the ability to hire marketing services, rent servers, perform accounting and auditing, hire employees, perform security audits, provide legal services, and interface with "real world" legacy companies like manufacturers and shipping services.

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