XDAC - Build Your Decentralized Company will become easier

initandrew (25)in #xdac • 6 years ago

Website: https://www.xdac.co/
Whitepaper: https://www.xdac.co/docs/xDAC-Whitepaper.pdf

xDAC (a business-oriented Decentralized Autonomous Companies)
Self-governed platform for creating and managing Decentralized Autonomous Companies

As a subclass of DAO, an xDAC is a company on a decentralized network with a built-in Proof of Work (PoW) incentive mechanism, a comprehensive governance and management tools, and a support system for DApps and Autonomous Agents - all housed on top of EOS. The xDAC governance is regulated by an xDAC platform – designed as a self-sustainable decentralized ecosystem consisting of businesses motivated to reap the benefits of their success without geographical limitations.

xDAC

xDAC is a Decentralized Autonomous Company created and operated on xDAC Platform by one or multiple human or autonomous agent owners or a mixture of both that share a common purpose and unites in order to achieve specific, declared goals.

xDAC Platform

The focus of an xDAC platform is not just company creation and token distribution, but establishing standards for decentralized businesses. An xDAC platform takes full advantage of decentralized ledger technology and lets anyone create and manage company without the limitations of geography.

PROBLEMS AND SOLUTION

Centralized businesses have a single point of failure and setting up global operations come with their own set of legal and regulatory issues.

An xDAC Platform is focused on creating a comprehensive framework for entrepreneurs, teams, autonomous agents and investors in crypto space – all of whom benefit from a decentralized entity.

Existing Problems:

Business is defined by three important components: governance, finances and workforce. In existing systems these components are separated and therefore highly ineffective. Companies are making every attempt to comply with laws, but in today’s global marketplace, each customer can be regulated by different laws and companies are required to create network of branches across different countries.

Finances are held by third parties, banks, payment processors or other financial institutions. Companies, therefore, are often forced to offshore their accounts to avoid jurisdiction issues. Paying employees require using third parties to process payroll from funds stored in third party institutions. In other words, companies have very little control over their business transactions and are wasting precious time and money on mundane tasks versus concentrating their efforts on managing their business operations.

Company stakeholders are able to see the overall mission statement of a company but are unable to uncover the maze of jurisdiction issues, offshore finances and employees’ performances behind closed doors. This leaves investors and customers no recourse to initiate dispute or litigation. The normal procedure is to secure representation by way of retainer and lock in a court date; meanwhile a company can dissolve, and money transferred out of company accounts. This puts a potential investor in a difficult situation and leaves them exposed without proper arbitration.

Centralized businesses have single point of failure and legal challenges with operations worldwide. Businesses store internal information about their relationships with employees, partners, and customers on centralized services and their bank accounts are under constant government surveillance which makes businesses vulnerable. Payment processing account can be disconnected at any time and reason never unveiled at will of payment processing company which often results in business failure. Business license can be taken away from business by government or business type not supported by financial institutions. In case of disputes, businesses have to deal with complicated negotiations or lengthy and expensive court hearings. Business success is being punished by higher tax rates, but taxes are not being used to stimulate their progress.

In recent years a number of new projects were backed by ICOs on platforms like Ethereum. In most cases, they were not business platforms and do not provide any governance. Many of these ICOs have been identified as fraudulent and are designed to take advantage of investors. There needs to be a decentralized authority to re-establish investor faith by way of a systematic, unbiased arbitrator.

Another problem xDAC is trying to solve is that people currently use cryptocurrencies mostly for speculation and trade on exchanges while converting from or to Fiat currencies. This is causing large volatility on crypto markets as there are no values being created within crypto ecosystem and people are forced to use exchanges in order to convert their wages into crypto or from crypto to spend their profits; therefore, exchanges are the weakest point of an ecosystem and easy to attack by hackers or governments.

Solution:

xDAC Platform aggregates three components together in one place, automates them, so system is beneficial for company and their customers. Companies have control over their governance, finances and their respective team. Business partners have confidence that companies they deal with are reliable and solvent by using a transparent system of governance and dispute resolution. An xDAC Platform is focused on creating a comprehensive framework for entrepreneurs, teams, autonomous agents or investors in crypto space who can benefit from decentralization.

xDAC helps owners to operate a transparent decentralized company in front of their investors. Company owners can manage their team, tokens and financials, and securely store data on a decentralized ledger. Automated governance and dispute resolution will add to the speed of business evolvement and reward systems will make companies and their teams more productive, efficient, and motivated.

Traditional Company vs xDAC Company

Traditional Company:
Governance and Jurisdiction
Registration, local jurisdiction compliance and reporting, state and federal taxes, judges, lawyers, court proceedings

Business and Payments
Bank accounts, merchant accounts, payrolls, local investors, office space, external centralized productivity tools

xDAC Company:

Governance and Dispute Resolution
Instant creation of decentralized company, automated governance and dispute resolution, PoW incentives for company teams

Funds and DApps
Fundraising through ICOs, crypto payment processing, automatic payrolls, support for DApps and internal autonomous agents

xDAC PLATFORM FEATURES

The focus of an xDAC Platform is based on company creation and token distribution. It also establishes standards for decentralized businesses. Whether it’s taking full advantage of decentralized ledger technology, automated dispute resolution or security of stored information, the platform lets anyone create and manage any kind of company without the limitations of geography.

GOVERNANCE AND DISPUTES

The xDAC platform establishes digital jurisdiction over xDACs created and operated by business owners. Disputes with third parties are resolved expediently and objectively through a decentralized Dispute Representative Board (DRB).

OWNERSHIP AND TOKEN ISSUANCE

Owners have option to issue a certain number of voting or non-voting tokens through a smart contract and distribute them between the owners or public via ICOs or a token sale.

PAYMENT PROCESSING

The most important part of each company is payment processing and the use of digital wallet technology. An xDAC platform will create a wallet with merchant tools for each xDAC upon the establishment of a company on the platform.

LIABILITY FUND

An xDAC Liability Fund is coverage in case the xDAC's debts or liabilities exceed a certain debt-to-equity ratio. It is calculated as a percentage of received payments until certain threshold is reached. This protects investors in case of xDAC default.

PoW PERFORMANCE RATING

xDAC’s PoW mechanism allows for an automated rating system to track the effectiveness of team members and companies and distribute the platform profit by way of participation.

PROJECT AND TEAM MANAGEMENT

Project and team management is a key feature of PoW Performance Rating. It helps xDAC keep up with tasks, scheduling, and distributing automated payments to team members.

ARCHITECTURE

An xDAC ecosystem can be viewed as several distinct technological layers strategically connected together.

EOS: Among the decentralized smart contract platforms, EOS is the most advanced feeless Blockchain platform.
xDAC Platform: The public’s smart contract layer provides an open-sourced implementation of key components creating the governance for decentralized applications (DApps) and Autonomous Agents to be built upon.

xDAC Client: The xDAC client is an innovative user interface that brings together all the DApps and Autonomous Agents in one place. The initial plan is to build website and desktop applications for easier interaction with the xDAC Platform.

TOKEN SALE

xDAC token is the platform currency used for dispute resolutions, payrolls, merchant payment processing, profit distribution and development incentives.

Name: XDAC

Blockchain: Ethereum-based (ERC20) token

Token Issue Volume: 100,000,000

Token Sale Volume: 40,000,000

Soft Cap: 1,500 ETH

Hard Cap: 35,500 ETH

Token Price: 0.001 ETH

1 ETH: 1,000 XDAC

Min Purchase: 0.1 ETH/100 XDAC

Early Investors

Pre-Sale: 45% Bonus

ICO Round 1: 20% Bonus

ICO Round 2: 15% Bonus

ICO Round 3: 10% Bonus

ICO Round 4: 0% Bonus

TOKEN DISTRIBUTION & USE OF FUNDS

A token sale will distribute 40% of tokens within investors and 20% of tokens will be used to incentivize early adopters of the platform. The remaining 40% will be retained with the project team. Proceeds from a token sale will primarily be used for R&D, operational expenses and marketing.

XDAC Token Distribution

40% Token Sale (Pre-Sale and ICO)
20% Community (Token Airdrop, xDAC Team Members and Arbiters)
20% Team, Early Backers and Advisers (Vested 6 months)
20% Foundation (Vested 1 year)