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bluemeanie1

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Virtual Corporations on NXT
« on: May 11, 2014, 06:02:57 pm »


NXT-DAC

Virtual Corporations on NXT

by BlueMeanie



DESCRIPTION:

 This new feature will enable Decentralized Autonomous Corporations on NXT.  For a transaction fee, a user will be able to associate basic corporate governance structure to an issued asset.

 * Polls can be related to share ownership and voting outcomes can be scaled to the ratio of ownership, similar to a board meeting.

 * A basic dividend payment feature.

 * Officers can be elected using the Share Poll feature.

 * Those officers have control over corporate accounts and can spend money and assets from those accounts while they hold office.

 * Officers can also issue official corporate statements (P&Ls, etc.), as well as send official corporate messages.


  The goals of this initiative are to get a useful and basic DAC functionality up and running.  Later we can add more complex features such as impeachment, liquidation/bankruptcy, leasing NXT to a corporation, and ongoing integration of future features to the corporation system.  It greatly widens the scope of the asset exchange because we can build value of the shares themselves by relating them to the control of assets, both virtual and 'real'.  It's possible for instance to build a basic functioning investment fund using this feature.

  Please post any comments below.  Show your support! Thanks!

  donations are most welcome: 11274042109288826540

 -bm

« Last Edit: May 11, 2014, 06:06:40 pm by bluemeanie1 »
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wesley

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Re: Virtual Corporations on NXT
« Reply #1 on: May 11, 2014, 07:02:16 pm »

OK this is gonna be awesome, great to have another developer on the team who has vision :D
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bluemeanie1

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Re: Virtual Corporations on NXT
« Reply #2 on: May 11, 2014, 07:53:44 pm »

OK this is gonna be awesome, great to have another developer on the team who has vision :D

dank je!

-bm
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gs02xzz

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Re: Virtual Corporations on NXT
« Reply #3 on: May 11, 2014, 08:02:06 pm »

This is really great! You definitely should apply for a bounty for this project to the Tech Committee. Here is the thread of the instruction and other applications - https://nxtforum.org/technical-development-applications/

You just need to find a bounty request example and fill in your information instead. You will know how the TC members think about your project.
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Nxter

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Re: Virtual Corporations on NXT
« Reply #4 on: May 11, 2014, 11:25:33 pm »

This is great!
We need this to make a difference with other cryptos with colored coins.
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salsacz

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Re: Virtual Corporations on NXT
« Reply #5 on: May 11, 2014, 11:47:33 pm »

finally coming guys willing to do these things :D http://youtu.be/RtTWUwRL9mQ?t=7m29s
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LocoMB

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Re: Virtual Corporations on NXT
« Reply #6 on: May 12, 2014, 06:28:28 am »


Great!

This is the next logical step on top of the Asset Exchange.

It also puts the voting system into a very useful perspective, since in a DAC, the concept of '1 share = 1 vote' is very much legitimate, as compared to the endless and fruitless discussions about
'1Nxt = 1Vote' vs. '1Account = 1Vote'

 
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Isildur23

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Re: Virtual Corporations on NXT
« Reply #7 on: May 13, 2014, 11:38:47 am »

Awesome!
 Can somebody explain (for the nontechnical guys) is this project dependant on the AT project(automated transactions)?
I remember Cfb saying that we should choose between AT and 1000tps because we still don't have a clear vision for parallel chains. So, if we don't choose AT, but 1000tps, will we stilll have this DACs?
p.s. incredibly happy to see a couple of new developers. Really awesome. I love the community!
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innovator256

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Re: Virtual Corporations on NXT
« Reply #8 on: May 16, 2014, 02:08:03 am »

Bless you!! this is great, just what i have been waiting for , now my liason can proceed
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bluemeanie1

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Re: Virtual Corporations on NXT
« Reply #9 on: May 16, 2014, 02:21:45 am »

Bless you!! this is great, just what i have been waiting for , now my liason can proceed

thanks ola!  you can invest in our enterprise: https://nxtforum.org/nxtventures/nxtautodac-all-of-bluemeanie%27s-automated-profit-making-blockchain-companies/

-bm
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innovator256

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Re: Virtual Corporations on NXT
« Reply #10 on: May 16, 2014, 02:44:00 am »

Bless you!! this is great, just what i have been waiting for , now my liason can proceed

thanks ola!  you can invest in our enterprise: https://nxtforum.org/nxtventures/nxtautodac-all-of-bluemeanie%27s-automated-profit-making-blockchain-companies/

-bm

Question: whats the revenue model, one time fee on the association of the asset with DAC properties....or is this a yearly or monthly re-occurring subscription fee?
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EmoneyRu

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Re: Virtual Corporations on NXT
« Reply #11 on: May 18, 2014, 06:44:15 am »


Great!

This is the next logical step on top of the Asset Exchange.

It also puts the voting system into a very useful perspective, since in a DAC, the concept of '1 share = 1 vote' is very much legitimate, as compared to the endless and fruitless discussions about
'1Nxt = 1Vote' vs. '1Account = 1Vote'

If we need referendum (all Nxt accounts should be presented in the largest organization) then we'll still have the problem of initial shares distribution.

igmaca

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Re: Virtual Corporations on NXT
« Reply #12 on: May 24, 2014, 07:13:02 pm »

maybe to know about actus can go well for you

actus open source smart contracts

This software Ethereum is based

The Alfred P. Sloan Foundation awarded Stevens Institute of Technology a grant to work on the proposal entitled "Creating a standard language for financial contracts and a contract-centric analytical framework". The standard follows the theoretical groundwork laid down in the book "Unified Financial Analysis" (1) - UFA.The goal of this project is to build a financial instrument reference database that represents virtually all financial contracts as algorithms that link changes in risk factors (market risk, credit risk, and behavior, etc.) to cash flow obligations of financial contracts. This reference database will be the technological core of a future open source community that will maintain and evolve standardized financial contract representations for the use of regulators, risk managers, and researchers.
The objective of the project is to develop a set of about 30 unique contract types (CT’s) that represent virtually all existing financial contracts and which generate state contingent cash flows at a high level of precision. The term of art that describes the impact of changes in the risk factors on the cash flow obligations of a financial contract is called “state contingent cash flows,” which are the key input to virtually all financial analysis including models that assess financial risk.

http://www.projectactus.org/
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bluemeanie1

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Re: Virtual Corporations on NXT
« Reply #13 on: May 24, 2014, 07:16:14 pm »

they have had many proposals in the past.  If we do get to the point where we actually have a solid definition, then we must contemplate how it will be implemented, at what cost, with what organization etc.  We're really very far from such definitions.  Ethereum has already shown a lack of consistency in their underlying concepts.

Virtual Corporations feature aims to create a useful and practical P2P tool for mutual ownership of digital assets.

-bm
« Last Edit: May 24, 2014, 07:17:57 pm by bluemeanie1 »
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bluemeanie1

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Re: Virtual Corporations on NXT
« Reply #14 on: May 24, 2014, 07:19:48 pm »

in general, it appears as though Ethereum is more interested in serving the needs of large FIs and not the needs of the sort of users assembled on this forum.  Ripple made this very same mistake and ended up making something that had zero appeal, because it was neither a very good traditional financial platform nor a very good peer-to-peer financial platform.

-bm
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bluemeanie1

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Re: Virtual Corporations on NXT
« Reply #15 on: May 24, 2014, 07:27:50 pm »

here is a good thread that explains why the 'turing complete' script idea is a very bad one: https://bitcointalk.org/index.php?topic=431513.msg6509979#msg6509979

It's basically an architecture that will overload the peer nodes and open up endless and totally unmanageable computation and security problems.  If someone did foolishly propose making such a thing, they had better have a rock solid proposal regarding security and performance or there may be serious risks to the platform viability.  Especially if someone decided to, for instance, idiotically attempt to imitate the Ethereum initiative.  From what I was told, Ethereum has already abandoned 'turing complete'.

-bm
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igmaca

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Re: Virtual Corporations on NXT
« Reply #16 on: May 24, 2014, 07:47:44 pm »

is great to see that good developers join the nxt platform.
I think your proposal its a brilliant idea.
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bluemeanie1

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Re: Virtual Corporations on NXT
« Reply #17 on: May 24, 2014, 08:11:52 pm »

is great to see that good developers join the nxt platform.
I think your proposal its a brilliant idea.

thanks for your support!  GUI mockups coming shortly.

also if you want to get involved you can invest in NXTautoDAC (aid:  14347250558295845059).

-bm
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jl777

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Re: Virtual Corporations on NXT
« Reply #18 on: May 24, 2014, 08:17:31 pm »

is great to see that good developers join the nxt platform.
I think your proposal its a brilliant idea.

thanks for your support!  GUI mockups coming shortly.

also if you want to get involved you can invest in NXTautoDAC (aid:  14347250558295845059).

-bm
Gee, all this shameless plugging of NXTautoDAC, might as well put it in your sig :)

I dont think very many people understand the scope and scale that autoDAC's will have yet. GUI mockups will clarify the possibilities for this summer.  I feel that a large percentage of the real world economy has entrenched interests just sitting on the cashflows and taking a disproportionate amount from the people that are paying for things and from the people that are creating these things.

At the high level, autoDACs should be able to disintermediate and directly connect buyers and sellers and even with signficantly lower fees, the fact that it is automated means profit levels will be comparable to the real world industry it is transforming.

James
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bluemeanie1

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Re: Virtual Corporations on NXT
« Reply #19 on: May 24, 2014, 08:24:08 pm »

anyone who sees the value in this feature can input and share in our success, you don't need technical skills- you can put your NXT to work.  This is the magic of the digital assets.

-bm


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