Decentralized Autonomous Corporation (DAC)

A Decentralized autonomous corporation (DAC) is a blockchain based decentralized system that provide goods or services to society (i.e. profit driven) while not depending upon any single individual, company or organization to have value. DACs allow an organization to distribute profits basing on a set of blockchain based rules. A DAC must have equity (shares) exchanged on its blockchain and must not not depend upon any laws or legally binding contracts.

DAC could be called a subset of DAO, a decentralised autonomous organization operating under a certain set of rules specified on a blockchain.

External Links

• Dan Larimer: DAC Revisited
• Dan Larimer: Is The DAO going to be DOA?
• Smith & Crown: Introduction to Decentralized Autonomous Corporations (DACs)