Do a bounty and earn!
As a subclass of DAO, an xDAC is a company on a decentralized network with a built-in Proof of Work (PoW) incentive mechanism, a comprehensive set of governance and management tools, and a support system for DApps and Autonomous Agents - all housed on top of EOS. The xDAC governance is regulated by an xDAC platform – designed as a self-sustainable decentralized ecosystem consisting of businesses motivated to reap the benefits of their success without geographical limitations.
xDAC Platform
The focus of an xDAC platform is not just company creation and token distribution, but establishing standards for decentralized businesses. An xDAC platform takes full advantage of decentralized ledger technology and lets anyone create and manage company without the limitations of geography.
Problems
Problem of jurisdiction
– Companies need to follow rules and regulations of each jurisdiction separately. This often makes it too
expensive and difficult to manage companies worldwide.
– Customers are not protected if they deal with companies outside of their jurisdiction.
– “This agreement will be governed by” in international agreements means one party is giving up its
rights.
Problem of free business model and centralization
– Financial institutions and governments dictate technological evolution. If they don’t like business
model, they don’t want to cooperate.
– Critical business information and financial transactions are stored with centralized entities and are
under constant surveillance which makes businesses vulnerable.
Problem of automation
– Business registration, government agencies, financial institutions, and jurisdiction systems are not
connected. This makes it slow and practically impossible to automate.
Problem of crypto market volatility
– Crypto market lacks economy and thus is highly volatile. People trade cryptocurrencies for speculation
and use exchanges, which are the weakest points of an ecosystem and are easy target for hackers,
banks, and governments to attack.
Solution
Jurisdiction
– xDAC platform takes full advantage of decentralized ledger technology and lets
anyone create and manage a company without the limitations of geography.
– xDAC Companies are governed by same rules.
Free business model and decentralization
– Business type is not limited as long as it follows platform rules.
– Company data and financial information are stored securely on decentralized
ledger and controlled by xDAC company.
Automation
– xDAC Platform aggregates three components (governance, finances, and
workforce) together in one place, so company processes are fast and automated.
Crypto market volatility
– Businesses on the platform bring jobs, goods, services, and trades all within the
crypto space so that people are not forced to use exchanges and fiat currencies.
Here there is the link for the bounty: https://www.xdac.co/bounties/