Showing posts from October, 2018

Self-sufficient virtual organizations, and how to build them up

I believe one of the most, if not the most, important applications of blockchain and smart contact technology will be the establishment of self-sufficient organizations that are completely virtual: They will use virtual currencies like Ether and ERC-20 tokens to handle all transfers & storage of value. Their collaboration & making of crucial decisions will be handled by smart contacts. Their members will consist of pseudo-anonymous individuals from around the world who collaborate mostly remotely. They will produce products that are purely digital in nature, and use the profits to cover their operational expenses, as well as provide their members with a non-negligible salary so that they may work for the organization on a part/full-time basis. The main challenge of accomplishing such a feat is this: how may we replicate the highly complex, fuzzy, and subjective business logic needed for most organizations using immutable, simple, strict, and objective smart contacts?