• Dawn of Autonomous Corporations, Powered by Bitcoin

    Still waiting for Bitcoin to be accepted at Amazon and eBay? Forget it. Bitcoin will power the next generation of corporations and the only way to deal with those corporations will be through Bitcoin (that’s right, they won’t, or rather can’t, accept fiat like US Dollar). These ideas may seem futuristic, but they are not more than 5 years away, maybe 10.

    Autonomous Corporations

    That’s right, autonomous corporations will be a new breed of corporations that act and behave, for all practical purposes, just like regular corporations. However, no one ‘owns’ them. Not the creator, not the customers, not the governments, no one really. Sound familiar?
    Bitcoin can be thought of as the first real autonomous ‘corporation’ although you probably don’t see it that way. Think about it – it provides a payment protocol and employs miners to maintain that protocol. The employs are rewarded with ‘stock’ that is split at most into 21 million units. You don’t have to think of Bitcoin this way to get to autonomous corporations, though it will help.
    The idea is the same – this corporation has revenues, expenditures and profits. However, once again, no one owns this entity, it owns itself. The reason it exists is to provide a service at an extremely competitive price that no human-based corporation can provide, so they’ll work higher up the chain to provide ‘value-added’ services.

    Dawn of Autonomous Corporations, Powered by Bitcoin
    This article was originally published in forum thread: Dawn of Autonomous Corporations, Powered by Bitcoin started by vortex666 View original post
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