Machine-Led Corporations Are No Longer Science Fiction, But Fact.

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While a tsunami of digital disruption is taking hold bringing us closer together than ever, concurrently we are now witnessing the early stages of what could be described as an even bigger wave; the first generation of decentralized autonomous corporations (DAC’s), operating without human intervention; i.e. M2M (machine to machine) and M2C (machine to consumer). Guided by set management protocols and following parameters laid down by a group of founders, DAC’s are being programmed to handle the day-to-day management of many different business structures.

“Programmed with an incorruptible set of publicly-available business rules (open source code), [and a very clear purpose driven mission statement], a DAC would be more trustworthy than a human-run corporation, holding the potential to reduce friction in many markets, allowing for instantaneous, trust-less business transactions across the globe. Near-term applications of the DACs concept include peer-to-peer bond and stock trading, verifiable-yet-anonymous voting, and decentralized currency exchange.” —The Economist

You could, of course, develop firms with more dodgy practices in mind, but, as Dan Larimer of Invictus Innovations explains: “although DACs can still be designed to have a robotically inviolable intention to rob you blind, to enter the open source arena they must be honest about their plans to do so.”

So do we have anything to worry about? “While DAC’s and other robots could eventually replace laborers with repetitive tasks, the very innovation required to make DACs a reality suggests computers will always need humans.”

Image: share.net

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