Dentacoin: an Autonomous Organization and a Foundation

Dentacoin
Dentacoin
May 8, 2017 · 2 min read

Prof. Dr. Dimitrakiev, the Founder of Dentacoin Foundation, explains more about the pillars of the Dentacoin’s organizational concept.

Prof. Dimitrakiev, could you please explain the organizational concept of Dentacoin?

Prof. Dr. Dimitrakiev: Two are the pillars of the Dentacoin’s organizational concept. On the one hand, Dentacoin is a completely autonomous, decentralized organization. This innovative concept represents a network of decentralized users, taking decisions together. Every user can vote for or against any given decision based on a voting smart contract. Coin owners are therefore involved in all business activities and have a great influence on them.

On the other hand, Dentacoin is a foundation — a legal category of an organization, providing the source of funding for its own purposes. I am often involved in discussions starting from the question “Are you the owner of the Foundation?”. The answer is “The Foundation is owned by no one… and by everyone. At the same time!”. As people are aware of how business and property usually work, it is clear that the concept of “non-ownership” might be a bit difficult for them to comprehend. That’s why we try to clarify this confusion to each new Dentacoin owner.

Prof. Dimitrakiev, how are this structure and the related processed guaranteed?

Prof. Dr. Dimitrakiev: The following represents the Dentacoin Foundation and the Dentacoin Smart Contract features:
1. Joint management of the Foundation.
2. Individual voting right regarding all important decisions of the Foundation.
3. Smart contracts are inevitable.
4. The Dentacoin network can have an “unlimited” number of users (8 trillion).
5. Total freedom of membership.
6. The Ethereum Blockchain operates autonomously under the prior coded rules of the founder. Once created, these rules could not be controlled even by their creators.


Originally published at Dentacoin Blog.

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