[ExI] Space Decentral: A decentralized autonomous space agency

Giulio Prisco giulio at gmail.com
Thu Apr 13 14:42:11 UTC 2017


Thanks Adrian. Some advantages of blockchain-based DACs, from the
perspective of participants / shareholders and compared to traditional
shares, are:
- Possibility to buy shares and participate anonymously.
- Self-enforced right to easily participate in all decisions.
- Possibility to offer services to the DAC as independent contractor (work 2.0).
- More protection against fraud.

Concerning your point about payments, paying a contractor in dollars
is not the problem. In a DAC this could work as follows. Suppose you
are a contractor who doesn't want to have anything to do with
cryptocurrency and I am a DAC member who interfaces with you.:
- You submit a deliverable to me and invoice $100,000.
- I request authorization to pay you $100,000.
- The members vote on accepting the deliverable.
- If the vote is positive a smart contract sends crypto funds to an
exchange where the crypto is converted to dollars and the dollars are
delivered to me.
- I pay you.

The problem is: what if I don't pay you and steal the money instead?
Smart contracts protect internal transactions against fraud, but not
external transactions like this.

This use case becomes easier if you accept to be minimally involved in
the process. For example you could have an account on the exchange and
receive the payment (in dollars) directly.

In general, the issues are at the interface between DAC and the
external world. There is no pure DAC solution: I think a DAC that
wants to operate as a real-world business needs a legal identity, a
front company in a favorable jurisdiction with named individuals in
charge, a bank account, ability to hold property etc. One of the
articles that I listed has examples of how things could be set up in a
specific jurisdiction (UK).

On Thu, Apr 13, 2017 at 6:47 AM, Adrian Tymes <atymes at gmail.com> wrote:
> I notice you still haven't presented any way to actually link your DAC
> to anything space-related.  Though you do seem to be starting to
> realize one of the biggest inherent problems: almost everything of
> value is, as you put it, off-chain.  As such, the blockchain would
> seem to be worthless here.
>
> (One could imagine ownership of physical assets to be governed by the
> blockchain.  Unfortunately, that requires outside partners - those you
> buy things from, and those you do business with - to accept the
> blockchain, and almost all vendors & customers will not.  I'm not
> sure, for instance, if there is a single provider of non-amateur
> rocket engines who will accept bitcoin or any other cryptocurrency, at
> least without it first being converted to dollars or other off-chain,
> backed-by-a-United-Nations-recognized-country currency.)
>
> On Wed, Apr 12, 2017 at 8:52 AM, Giulio Prisco
> <giulioprisco at protonmail.ch> wrote:
>> Following up on my previous post: I created a working group to develop a
>> solid, sustainable design for Space Decentral: A decentralized autonomous
>> space agency. You are invited to participate.
>> The idea is to leverage recent developments in crypto to bootstrap a global,
>> distributed, decentralized, P2P space agency of the people, by the people,
>> for the people. Space Decentral will be a Decentralized Autonomous
>> Corporation (DAC) focused on world-changing space projects...
>>
>> https://giulioprisco.com/space-decentral-a-decentralized-autonomous-space-agency-6d3895720bd9
>>
>> I am writing a series of posts on Crypto Insider to analyze the challenges.
>> This is the first:
>> DAOs and DACs in the Real Physical World: Open Questions
>>
>> I asked economists and people familiar with the subject matter to comment
>> and participate, and I hope to report their insights soon.
>>
>> --
>> Giulio Prisco
>> https://giulioprisco.com/
>> giulioprisco at protonmail.ch
>>
>>
>>
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