** DCORP** is described as autonomous, decentralized and democratic organization existing on the blockchain as a series of smart-contracts. The Founder and lead developer is Frank Bonnet (see original website for more info about the rest of the team behind this project).
Structure
Shareholders( the collective owners of DCORP) has the right to decide on the business's financial transactions.
The Board of Directors ( daily managers of DCORP) are elected and are made publicly known.
All voting behavior is stored on the blockchain!
How it works
A smart-contract business idea is drafted and discussed on the forum.
Given there is sufficiently raised support to fund the realization of an idea, a proposal is submitted.
Shareholders then vote on the submitted proposal within a one week duration.
If the proposal was approved, a fund contract is automatically released on the blockchain.
A manager is assigned to the project the code and funds are released in phases.
The smart-contract product is then released and the profit is distributed as recorded in the contract.
Discussion
The DCORP model/structure with some improvement can be used to approve and monitor startups using ICOs as their method of funding. The validation process will help ensure the successful development of the proposed projects. Additionally; the release of funds in phases may just prove to be a viable way to reduce the risk of scammers parting ways with total funds.
Investors should however be refunded based on shares/tokens held in cases where projects were not successful. This ofcourse, is only possible if the project happens to fail during early stages of development and there are remaining funds.
Source: https//dcorp.it