Recently I got amazed by this project, studied it thoroughly in details, read a lot of info, watched some videos, so for the last few days I have managed to collect enough info about xDAC and decided to share it with the progressive Trybe community!!! So let me get straight to the point:
- xDAC is a newly, developed by an International Team of Experts, blockchain platform for creating and managing Decentralized Autonomous Companies (DAC).
- Self-governed platform for all companies and without any geographical limitations.
The Problem that companies are facing now is:
- Nowadays there are to follow too many rules and regulations of each single jurisdiction separately leads to inefficient, too expensive and difficult way to manage companies worldwide.
- Jurisdiction systems +government agencies + business registration + financial institutions are not cooperating at its best, so they look old fashioned, slow and practically impossible to automate.
The Solution :
- xDAC is based on decentralized ledger technology and gives anyone the option to create and manage a company where the geographical borders do not exist anymore, so eventually xDAC companies are governed by same rules.
- The Platform combines three components: governance + finances+ workforce. So as a result we have FAST & AUTOMATED ECOSYSTEM.
The Platform & The Architecture
The Ecosystem is based on three layers, which combine EOS + xDAC Platform ( Core) + xDAC Client ( APPs)
EOS smart contract platform will be the basis on which are built and interacting the other two layers, but the xDAC dev team is considering to build a new platform to EOS, and not rely solely on it, but to use it as a hybrid solution and make sure the platform will be flawless in case of network congestion.
xDAC Platform ( Core) is the public’s smart contracts layer, that will act as the link between the environment and the governance for decentralized applications (DApps) and Autonomous Agents to be built on. The most active DAC’s will be the core of revenue generation, based on PoW performance ratings.
- Three different types of accounts will exist on the Core Platform, i.e new xDAC ( opened for a new company ), Team Member ( opened for anybody connected with the company as a employee, freelancer etc.) and Investor, that will posses power of vote in the company.
- Identity Mgmt. Everybody will be provided with a digital ID.
- Governance and Disputes. It is a major component of the system, that’s why it combines Dispute Resolution + Dispute Representative Board and Voting + Assigning a Representative.
- xDAC Ownership and Token Issuance, that will consist of Voting Tokens + Non-Voting Tokens.FYI the tokens will be an ERC 23 compliant!!!
- Two types of Wallets ( xDAC wallet+Team Member wallet ) and xDAC Payment Processing.
- xDAC Liability Fund, that is to cover any debts or liabilities that may occur over time.
- Team Member Retirement Fund. Every Team Member will have a Rating, that will be used as to calculate the retirement disbursements from that Fund, which automatically will be allocated to their TM Wallets.
- PoW Performance Rating based on the tasks and ethic to be done by the members.
- Team Management and Privileges, wherein there will be opened accounts for each Team Member combined with fair Privileges.
- Project Management as a mayor component in the system, wherein comes the interaction between xDACs and the Team Members.
xDAC Client that integrates all DApps with Autonomous Agents. In the first phase after the ICO there will be built website and desktop APPs to make sure it will be linked with the xDAC Platform.
Furthermore the DApps will have the following components: Company Overview + Voting, Bylaws and Company Assets + Team + Project management + Wallet + List of xDACs with the info regarding all existing DApps.
Generally, that is the way the platform is set up. I would say, it’s a very innovative brave task the xDAC Team is destined to achieve in a short term, as you can take a look at the Roadmap:
Some useful links to xDAC ICO Ratings: