DARC: Start a company on blockchain, write your own laws | Hacker News Reader

DARC: Start a company on blockchain, write your own laws

github.com

19 pointslidangzzz11 comments

So, an implementation of company-constitution-as-code. As usual, flexibility and updates to the by-laws/core program is an issue, but it's interesting to see iterated experimentation on the concept. Enforcing various higher-level contracts e.g. compliance with corporate tax laws of specific countries and declaration of operating income, etc. would be an additional direction to explore.

Yes, so it's necessary to build a virtual machine on top of EVM, instead of simple proposal-vote-execution mode is necessary.

Also all the restrictions/laws/rules can be easily represented and described using a new programming language, "By-Law Script", which makes it more flexible to compose different kinds of laws.

And thanks for your ideas, it would be really interesting that we can build some tax laws on top of crypto and DARC, as well as more scenario about external regulations.

Myself (and I’m sure many others) are looking for an organisational structure that’s extraterritorial - that is, some kind of company structure that sits out of the jurisdiction of any single country, much like Bitcoin sits outside the domain of any one country’s reserve bank. This project doesn’t seem like it but I wish it was.

I'm also interested in this, but I wonder if it will ever come to pass, at least in an absolute sense. Bitcoin doesn't really sit outside the banking system either, it is tolerated by it (for now).

My own (fleeting) thoughts regarding an extraterritorial jurisdiction currently is rather along the lines of a "dual-citizenship" (or triple+?) model, at least in the short to mid term. The "virtual" nation(s) would have to accept the supremacy of a "territorial" state of residence at every juncture. That still might leave a lot of room for "virtual lawmaking", and over time the balance between the two could possibly be shifted in small steps.

IMO this is all Gibsonian fantasy until somebody finds a way to live extraterritorially or else always practice perfect OpSec, meaning (among other things) that you keep your "extraterritorial" business totally disjunct from your actual personal finances, with no flow of value between them at all. This means you can't invest in the business initially or use the profits for meatspace purchases. At that point, why bother doing it at all?

Remember, if you screw up then Federal agents will come and arrest you if your "extraterritorial" business selling zero-days on the dark web comes to their attention. They don't care if it's a Jersey company whose officers are all Grenadian nationals that you've hired via the blockchain because you live in Tulsa, and they will put you in prison.

Actually you can always be anonymous, just like most of the web3 projects, and the federal government don't know who you are, in US or in Thailand, if and only if you don't sell the tokens on coinbase and withdraw the cash via Wells Fargo

Right, you can be anonymous, but only if the money you make anonymously is never used to pay your rent. What's the point?

Setup an anonymous company in Cayman Island, Singapore, Hong Kong or Russia might be a good choice I guess

And then Totally Not A Front Ltd. pays you a paycheck into your legal, real bank account so you can pay your rent? Now you're not anonymous anymore. OK, let the company pay the rent and mail you the keys. There's still a trail for the cops to follow by just...showing up at the apartment and seeing who's there.

Until transactions can cross between crypto and real money anonymously (which is getting harder all the time, and is already effectively impossible at any kind of reasonable price and scale), OpSec requires that you not invest your real money into any such venture, and also never get paid by any such venture. Again, you can still /conduct/ such a venture, but at that point its just an eccentric, high-stakes hobby, since it only happens in an alternate reality where you never need to buy peanut butter or a gallon of gas but can still potentially slip up and anger the feds/cartels/chinese intelligence/whatever. Yes, there are ways to reduce the risk that your "extraterritorial" company is not traced back to you. There is not a way to avoid it completely, and it's a pretty big risk.

Very interesting. Seems like a perfect idea for the blockchain. Staring the repository.

Thanks!

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