The xDAC platform is a platform that allows for what they have deemed an xDAC, or a Decentralized Autonomous Company. A DAC is a type of DAO or Decentralized Autonomous Organization which means that the company exists on the blockchain and is controlled by members through smart contracts that set the rules of that organization/company. In a DAO or DAC, there is no centralized management or leaders as everyone has a role in the management as a holder of the platform’s token.
xDAC is a new way for a company to essentially run itself. From the accounting books, the payroll, governance, fundraising, and also its applications or DApps, the xDAC will have a control set which can be utilized. The owner of the xDAC will have the ability to generate company voting tokens essentially giving an employee a stake in which they can take place in the consensus of the DAC. This allows the owner to distribute the tokens among the members of the DAC to give fair control and allow for group voting on issues that are brought up for a vote.
The one major thing that xDAC will be used for is money management in the company such as accounting and payroll. Users will be able to receive their payroll directly on their generated wallet from the company. The funds will be moved from a payroll fund in the xDAC or somewhere else to be distributed to employees. Swinging back to the company share tokens, to approve the payroll distribution, a vote must be made and access granted for an individual to move the funds.
xDAC will initially launch as an ERC20 token but will swap its mainnet over to the EOS blockchain. This will allow for thousands of transactions per second on EOS as well as feeless transactions for every xDAO.
Why I like it
I like it because I was in love with the idea of a DAO and all the possibilities that it creates. This allows companies to now do the same thing essentially. Blockchain as a whole has really made the world a smaller place and I find myself talking to people from all over the world on a daily basis. A solution for creating companies to leverage this new found connected world are an ever growing need. I think xDAC will see wide adoption as the idea of a DAC grows and potential new companies start as a DAC and old companies convert to a DAC structure. If you have an idea for an xDAC that you would like to create, head on over to their website and reserve your name now!
Token and sale information
Max supply: 100,000,000
ICO Date: Pre-Sale is over and ICO is now until sellout
xDAC Contact Information
** This article was created in exchange for a potential token reward through Bounty0x
Bounty0x Username: pantsme
ERC20 Address: 0x8B15E34cEA06219114dC8c0912D43a2ABC2B79c7