Bit Shares …
Bit Shares :
BitShares does for business what bitcoin did for money by utilizing distributed consensus technology to create companies that are inherently global, transparent, trustworthy, efficient and most importantly profitable.
What is Bitshares:
· is a technology supported by next generation entrepreneurs, investors, and developers with a common interest in finding free market solutions by leveraging the power of globally decentralized consensus and decision making.
· first fully autonomous system to utilize distributed consensus technology to create a more efficient and reliable global payment network
· core innovation is the Blockchain
· no longer require a middle man to act as a trustworthy, confidential fiduciary.
· rely upon the internet to provide their services
o Whether its banking, stock exchanges, lotteries, voting, music, auctions or many others
o digital public ledger allows for the creation of distributed autonomous companies (or DACs) that provide better quality services at a fraction of the cost incurred by their more traditional, centralized counterparts.
o companies can run without any human management and under the control of an incorruptible set of business rules
What Is Consensus Technology:
· The process of consensus decision-making allows for all participants to consent upon a resolution of action even if not the favored course of action for each individual participant.
· Bitcoin was the first system to integrate a fully decentralized consensus method with the modern technology of the internet and peer-to-peer networks The proof-of-work structure that secures and maintains the Bitcoin network is one manner of organizing individuals
· BitShares ecosystem employs Delegated Proof of Stake in order to find efficient solutions to distributed consensus decision making.
What Is DAC (distributed autonomous companies):
· run without any human involvement under the control of an incorruptible set of business rules.
· rules are implemented as publicly auditable open source software distributed across the computers of their stakeholders
· become a stakeholder by buying “stock” in the company or being paid in that stock to provide services for the company.
· stock may entitle you to a share of its “profits”, participation in its growth, and/or a say in how it is run
The developers of Bit Shares formed Cryptonomex to monetize the technology, experience, reputation and good will they accumulated during their first two years of development and operations.