The global business community is looking to benefit from true economic growth. A system free from the influence of regulatory agencies and malicious third-parties. One that is open countless enterprising opportunities that include raising capital through ICOs, streamlining operations via blockchains, and increasing profits. Introducing xDAC — a decentralized network with a built-in Proof of Work (PoW) incentive mechanism, a comprehensive governance tool, and an innovative support system for DApps and internal Autonomous Agents — all housed on top of EOS. Welcome to the newest way to effectively run your business.
Automated Dispute Resolution
Unlike traditional companies who face never-ending financial roadblocks and complicated arbitration processes, xDAC, an advanced decentralized platform, allows for a seamless dispute resolution. The xDAC platform allows for fundraising through token sales, crypto payment processing, and automatic payrolls. It also paves the way for Bots and Artificial Intelligence (AI) to become part of company structure challenging developers to create internal autonomous agents that are sophisticated enough to join company teams.
“The core idea of decentralization is that the operation of a service is not blindly trusted to any single omnipotent company. Instead, responsibility for the service is shared: perhaps by running across multiple federated servers, or perhaps running across client-side apps in an entirely “distributed” peer-to-peer model,” Matthew Hodgson of TechCrunch said in a recent article.
So, what makes xDAC platform self-sustainable and reliable environment for businesses?
Autonomy & Transparency
At the end of the day, xDAC aims to manage itself in self-governance by cutting out middlemen and providing trust and transparency by using a blockchain. But does this mean xDAC plans to separate itself entirely from the laws and taxes that regulate companies? It seems unfair to the global economy and many governments and corporations are likely to see this as an attack. xDACs goal is to create consistent regulations for businesses across its platform. If rule changes are requested, the platform will be open to the proposed change and token holders will have the option to vote accordingly. The primary objective of xDAC is to ensure the protection of businesses on the platform.
Full Control Over Governance, Finances, and Team
xDAC Platform aggregates three components together in one place and automates them. This is designed to benefit both the company and their customers. Companies have full 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. All users can benefit from decentralization.
3 Reasons to Trust xDAC More Than Traditional Businesses?
Fast and automated dispute resolution: xDAC provides arbitration system for any given dispute between two parties which allows decentralized arbitrators to resolve dispute based on documents provided by applicant and defendant very quickly.
Liability fund that can cover company’s debts or liabilities: Liability Fund is liability coverage in case of the xDAC’s debts or liabilities. It is created as percentage from received payment that is stored on separate wallet until certain limits are reached.
Transparency: Ownership in public xDAC organization is transparent and transferable. Voting token holdings are public, and owners have the right to transfer ownership to another party. There are four transparent functions of ownership built into public xDAC: (a) List all voting token holders (and their holdings) (b) Issue tokens, arbitrarily or with parameters © Sell or transfer tokens (d) Issue new non-voting tokens.
The xDAC Control Panel
xDAC will come with an intuitive control panel allowing users to seamlessly navigate content as a Web Host. Unlike most decentralized autonomous organizations, xDAC allows users to select their domain and deliver content to both the centralized and decentralized network. The best part: users owners take full advantage of a deregulated system with no local government registrations or interference.
Here are some of the key features and benefits of xDAC, according to the company’s White Paper:
- Same governance across entire platform
- Control over teams and finances
- Easy fundraising
- xDAC platform profits distributed back to xDAC’s, not to other projects
- Less administrative adherence, more time to focus on business
xDAC on EOS Platform
Among the decentralized smart contract platforms, EOS is the most advanced, feeless, blockchain platform in development. XDAC’s growing developer community is in the midst of testing on top of the EOS platform, creating a vibrant ecosystem of second layer protocols and projects. EOS is a dynamic blockchain with a large contingency of developers. With the introduction of WebAssembly, developers are allowed to use C++ with smart contracts to receive higher performance of native code. C++ has already extended a number of libraries with tested and proven code available to developers. This limits the margin of error and can be used in smart contracts.
EOS is scaled to perform tens of thousands of transactions per second while other blockchains are seemingly congested with smaller projects. Nonetheless, the xDAC Platform developer team is willing to 11 adopt a hybrid solution, such as side chain settlements, should in fact network congestion on the public EOS network pose a significant problem.
The XDAC Token Explained
XDAC token is a platform currency representing value and wealth in the decentralized economy used for exchange of values between xDAC companies, employees, customers and other third-party entities. The token will be used on the xDAC Platform for dispute resolutions, pay team members, accept payments for services, profit distribution, and incentivize development. XDAC tokens are ERC-20-compatible tokens distributed on the Ethereum blockchain pursuant to a related ERC-20 smart contract. Ethereum tokens distributed in the ICO phase are pre-existing tokens and will be migrated to another protocol on the EOS platform.
Next Up for xDAC
Initially, xDAC will focus on developing a reliable product. They project 2018 will be dedicated mostly to R&D and starting in 2019, will expand their efforts to marketing, development and building strategic partnerships. Here’s a glimpse of their projected launch timeline:
Nov 2017: Start of the project (Team Set Up and Project Launch)
Dec 2017 — Jan 2018: Preparation for ICO (White Paper, Market Analyzes, Landing Page)
Mar 2018: Token Distribution: Airdrop, Pre-ICO Round (Launch of Airdrop campaign and pre-ICO with soft cap 1,500 ETH. Smart Contract, token issuing)
Apr 2018 — Aug 2018: Token Distribution: ICO Round & Dev (Distribution of remaining tokens. Integration identity verification, governance. Development of xDAC client — Company and Valet)
Aug — Oct 2018: Development & Testing (Development of xDAC Core functions i.e. Voting, Ratings, Client functions, Team and Tasks)
Nov 2018: Alpha Release & Testing (Alpha version release of xDAC Platform and xDAC Client)
Jan 2019: Beta Release & Testing (Beta version release of xDAC Platform and xDAC Client)
Whether it’s innovative decentralized ledger technology, security of stored information, or automated dispute resolution, the future is bright for profit-driven decentralized companies established on the xDAC platform.