DAC Everything…

So what the hell is a DAC? The term coined by Dan Larimer stands for a “Decentralised Autonomous Company or Community” the goal of which is to have no central point of control or failure and to enable a culture of growth, fairness and equity for all participants.

Europechain has created a DAC almost by accident. We thought we were building a centralised company, but our DNA no longer allowed us to design and build in that way.

As we worked through the many nuances of how Europechain will operate, including: how BPs will be selected and removed;, how commercial partners will be brought on board and taught all over Europe:, how funding would be controlled and accounted for:, and how partners could trust and verify, we ended up needing “Europechain DAC” .

While there is a traditional company (Europechain BV) based in Amsterdam, Netherlands, control and decision making from day one has been equal among the four founding member teams (each of which are also not controlled by any one person.)

As we build out the Europechain backbone, all accounts and permissions are managed by Multi-Approval (MSIG). Similarly, as we build our trusted BP network they will also form part of the approval process for the selection of Block Producers, dispute resolution, financial governance and community protection.

Until we have a token supply and distribution which 2/3 + 1 of the BPs agree is informed and engaged enough to vote on community matters, proposals and decisions will be made by 2/3 + 1 of BPs including the addition and removal of BPs for non-compliance/performance — as detailed in the Europechain charter.

This has been an incredible journey so far, and we are just getting started.

Come join us on Telegram https://t.me/europechain or follow us on Twitter @europechain_

#DACallthethings