DARC will change the world
Today, I want to talk about how DARC will change the world.
Github: https://github.com/Project-DARC/DARC
Most DAOs are scams because they only use the rule of one coin, one vote to make decisions. This leads to unlimited spam of tokens, dilution of existing token holders’ rights, and a focus on selling coins rather than developing useful tools. Additionally, real companies have many more agreements and requirements than just one share, one vote. They require shareholder voting for the board of directors, and a range of agreements such as anti-dilution, employee compensation, and procurement contracts.
In the world of crypto, people are trying to add various restrictions and conditions to DAOs to make them more like courts or parliaments, but these functions cannot be written effectively with the current structure of DAOs. Therefore, a set of virtual machines (DARC) must be developed on all EVM chains, along with a new programming language (By-law Script) to describe business laws with powerful expressive power. This will give a company or organization the modes of “flexible organizational law”, “legal decision process”, “legal decision agreement”, “legal decision legislation”, “equity decision voting”, and “voting decision process” to operate all daily matters.
DARC is not a DAO, it is a complex modern company design that can be divorced from the legal system of the country and government texts, eliminating the need for company text and registration procedures. The goal is to deploy virtual machines on the one-click chain, and fine-grained code legally maintained organizational entities.
Although much work remains to be done, the core content has been spelled out, and the code is available on Github. DARC is likely to be the ultimate answer to discussions on The Network State and Code is Law, providing a model for the operation of a set of joint-stock companies.