Decentralized Autonomous Corporations

[powganima]

I took a careful look at the bitshare model.  They rely on Decentralized Autonomous Corporations.

A simple example would be a lottery conducted by a computer algorithm.  So, the idea is a crowd would fund this start up.  People would buy shares.  Then, this lottery would run automatically. 

It just doesn't work.

So, DAC are not going to be anything useful or real.  They are going to be limited to small things like lotteries.

[brekyrself]

You state opinion, give some facts so we can have a constructive conversation.


Some good reading:

http://letstalkbitcoin.com/blog/post/overstock-to-cryptostock

Let's talk Bitcoin! episode 129.  Starts around 12 minute mark with the lead dev Dan.  Great listen.
http://letstalkbitcoin.com/blog/post/lets-talk-bitcoin-129-dogeparty-and-delegated-proof-of-stake

Titan
http://wiki.bitshares.org/index.php/TITAN

DPOS algorithm
http://wiki.bitshares.org/index.php/DPOS

Last but not least the market based trading, think bitUSD, bitGold, bitSilver etc...
http://wiki.bitshares.org/index.php/Bitshares_X


BitShares ideology, along with the likes of Nxt & ethereum go WAY beyond just a coin.

[virtfund]

Please explain more why you don't think DACs won't work.