xDAC

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 set of 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.

About xDAC

xDAC is a Decentralized Autonomous Company created and operated on xDAC Platform, decentralized digital ledger, 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

1. Problem of jurisdiction
   – Companies need to follow rules and regulations of each jurisdiction separately. This often makes it too
   expensive and difficult to manage companies worldwide.
   – Customers are not protected if they deal with companies outside of their jurisdiction.
   – “This agreement will be governed by” in international agreements means one party is giving up its
   rights.
2. Problem of free business model and centralization
   – Financial institutions and governments dictate technological evolution. If they don’t like business
   model, they don’t want to cooperate.
   – Critical business information and financial transactions are stored with centralized entities and are
   under constant surveillance which makes businesses vulnerable.
3. Problem of automation
   – Business registration, government agencies, financial institutions, and jurisdiction systems are not
   connected. This makes it slow and practically impossible to automate.
4. Problem of crypto market volatility
   – Crypto market lacks economy and thus is highly volatile. People trade cryptocurrencies for speculation
   and use exchanges, which are the weakest points of an ecosystem and are easy target for hackers,
   banks, and governments to attack.

Solution

1. Jurisdiction
   – xDAC platform takes full advantage of decentralized ledger technology and lets
   anyone create and manage a company without the limitations of geography.
   – xDAC Companies are governed by same rules.
2. Free business model and decentralization
   – Business type is not limited as long as it follows platform rules.
   – Company data and financial information are stored securely on decentralized
   ledger and controlled by xDAC company.
3. Automation
   – xDAC Platform aggregates three components (governance, finances, and
   workforce) together in one place, so company processes are fast and automated.
4.  Crypto market volatility
   – Businesses on the platform bring jobs, goods, services, and trades all within the
   crypto space so that people are not forced to use exchanges and fiat currencies.

xDAC Platform Features

• 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.