The problem
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I would like to discuss the problem of dissonance following the types of investments made, as well as model of investment. Do you think it is possible to connect ‘old way of thinking’ with the new tendencies under the ‘smart contract’ thinking?
What is the main problem in smart-contracts management.
The process of management of assets value should be focused on development, R&D works and notification in daily management of intangible and legal assets that were produced. In smart contracts there is no problem to build check-points whenever the investment is in the IT branch (mostly validated through github). But the problem concerns other innovative types of investment, like biotechnology, medicine, everywhere the real assets come. Some may say ‘you have a kickstarter alike possibilities’, but is not a solution to the problem.
This is a major element of building the perspective capital value, which can affect the overall value of business assets and in final round, in overall value of the company. To understand capital value, one needs to understand the basics of capital definition within the terms of law. Capital is the value of the possessed property, which can have different forms. Businesses can provide many capital assets. Many entrepreneurs identify their possessions as only their own fixed assets, such as real estate, technical equipment. The definition of assets is much broader and also applies to intangible assets, which in particular, in innovative companies may represent a significant fraction of their value.
Such components may be, for example, software purchased, software made on its own resources, commercially-generated sales agreements reflecting the number of customers, domains and values associated with the brand and its market position, articles and blogs that generate sales, images, reports, databases.
All these elements must be transferable, meaning they may be the subject of potential trade. For example, a properly managed customer database can be legitimately trafficked with personal data, with the value of such a single customer base ranging from a few cents to several hundred dollars, depending on the complexity and specificity of that customer.
Under smart contracts there is always difficulty to connect these values (book value), especially that was created in the process with the market value. This is very similar to the public listing of companies - smart contracts are a huge perspective and a formal derivative of such ‘old thinking’ giving opportunities to engage private capital in higher scale. One of the forms of aggregation of such value that is created is a VC under smart contract. Why? I think mostly because:
1)VC may open smart contract for the dedicated value, which is the ‘public listed value’
2)VC aggregates the value of distributed assets which are in-the-control of their progress, represents the book value
3)However the VC may be still in a decentralized form with ‘investment committed
4)It may state a DAO-compatible philosphy, however the responsibility is not anonymous which gives resistance to scams.
So what do you think? Which ways is better - typical DAOs or something like a merge of tradition (VC’s) and innovation (DAO accelerators)?