From DAICO to CDAICO - Enterprise Projects for Blockchain Companies Who Have Issued Cryptocurrencies

in #ethereum7 years ago (edited)

If you have read Vitalik Buterin’s proposal for protecting ICO investors and leveraging distributed organizations - which he calls the DIACO - I am adding the concept of a CDIACO to the DIACO construct. A CDIACO is where the team developing an application on the Ethereum blockchain can link their coins/tokens and therefore their resources and expertise together for more complicated enterprise projects. For example, we have Enigma (and others) working on identity and authentication, Storj working on storage, Presscoin and Steem working on blogging and news, and many others. If we structure organizations (CDAICO's) so that there are three classes of coin/token ownership - all coins/tokens with the same value - we can build organizations that leverage the best of our new ecosystem. Class 1Execution Teams would be teams that propose a concept and have an architecture in mind and a development team to execute that concept. Class 2ValueAdds would be comprised of existing teams who already have done an ICO and have developed a working product .... they would serve similarly to a board, because they would make their tools and knowledge available to the Class 1Execution Teams. Class 3Investors would be regular investors. Classes 1 and 2 are each allocated 26% of the token pool of a CDAICO. Class 3Investors are allocated the remainder.

Class 1Execution Teams - have the right to invite other teams to participate as Class 2ValueAdds members and owners and may offer them up to 10% of the total Class 2ValueAdds tokens. Upon the Class 2ValueAdds having 6 or more members, Class 2ValueAdds teams take on the function of the Board of Directors for the project and also periodically - upon milestones being achieved - allocate tokens among themselves or invite other teams to join them and redistribute their tokens.... they never own more than 26% of the total coinage, but control and manage the value they assign to one another for the code and other assets they offer to the project. They also endorse the use of funds for the project responsive to proposals from the Class lExecution Team - the Class 1Execution Team propose budgets and development priorities to be endorsed by the Class 2ValueAdds. If there is a deadlock, Class 1 or Class 2 can insist investors are polled for their opinion. Each token has an equal value when a vote is cast.

No class can dominate another. Within each class, token holders can vote their tokens, but no token holder can be assigned or own more than 10% of the tokens within their class.