It's become clear in this long thread that a year of "Fibs and Fud" from people who have little personal honor have left many fair minded folks with deep misunderstandings about BitShares. Rather than continuing to answer them piecemeal, I've decided to author a series of posts that explain everything from the beginning. I hope some of you find this useful.The Origin of BitShares
Part 10
BitShares Unleashed
In this industry, talk often turns to the virtues of decentralization. This usually means distributed software, but we have aimed to decentralize the BitShares industry as well. And for good reasons! What good is decentralized software if someone can attack the human organization that maintains it? How do we actually achieve the word “Autonomous” in the DAC acronym anyway?
Now that BitShares has become the world’s first self-funding DAC,
that vision is within reach.
Those who have been with us since the beginning will remember we emphasized that a critical stage in the life of a DAC would be when it is able to become unleashed from its developers. Only then would it be truly emancipated and autonomous …even sovereign. Barely sixteen months ago, we said it this way when we unveiled our the concept of a Decentralized Autonomous Company (DAC) in a LetsTalkBitcoin.com article entitled:
Ultimately, to achieve complete incorruptibility,
developers must be willing to let go of their own control.
If there remains any centralized human control anywhere,
it will eventually be exploited to the detriment of the DAC’s stakeholders.
DACs need to be free to be trusted.
We think we have now come close to achieving this vision.
BitShares will be the first fully automatic company.
It will employ humans, not the other way around.
BitShares will still have human owners; it will still serve human customers; and it will still hire human staff; but it will be managed by independent software agents that cannot be corrupted, seduced or coerced. Because it can be trusted in ways that manned companies cannot, it will be able to serve its owners and customers more reliably than any manned company you may still be inclined to trust.
So, as long planned, we have set BitShares free - releasing it into the wild!
Invictus Innovations Incorporated (I3) has ceased operations in the crypto currency space to ensure that there remains no central control over BitShares of any kind. For a while, the corporation will continue to exist as a legal entity to handle any future regulatory inquiry, tax audits, or other government duties associated with its past existence. But BitShares will no longer depend upon Invictus for anything.
Invictus has delivered BitShares to its owners as a self-funding, self-maintaining, self-promoting product.
Having accomplished that mission, Invictus can quietly ride off into the sunset in search of Satoshi Nakamoto.
Meanwhile
BitShares, DAC (not BitShares, Inc.) has already begun hiring its own support, development, and promotional contractors. Most of us who have been employed by Invictus Innovations have sought employment directly with BitShares. We have been hired by our own software! And up to 101 delegate-based contractor slots are now open for other new talent of all kinds.
Whether we are familiar old-timers or newly arriving talent, each of us will have to make our case to the community of BitShares holders. They will make all hiring decisions. Based upon the indicated preferences of those voters on the blockchain,
BitShares, DAC will automatically hire and pay the top 101 vote getters. This will make elected delegates very competitive, responsive, open and transparent – since those same voters can just as easily fire us… in about ten seconds.
So now you are caught up. The Vision first laid out in
Bitcoin and the Three Laws of Robotics has been, at least partly, achieved. There is still much work to do to grow
BitShares, DAC into a Fortune 100 Unmanned Company. But the whole world can work on it together...and the path forward is clear.
