Distributed Autonomous Company

A software entity that, like a traditional company, earns money for its shareholders. Unlike a traditional company, it operates autonomously on a blockchain. It requires no board of directors or CEO to accomplish its goals. A DAC requires no trust in people as its rules are written into software.

Reference:

Malone, J.A (2015). Glossary of Bitcoin Terms and Definitions. United States: Lulu Press, Inc

Leave a Reply

Your email address will not be published. Required fields are marked *