WHAT IS A DECENTRALISED AUTONOMOUS ORGANISATION?
A Decentralised Autonomous Organisatio
n ("DAO") may be viewed as a network of HUMANs, natural legal persons, non-natural legal persons (often referred to as juridical persons) and/or, with the recognition of robots by UAE and digital intelligences by other countries, i.e. INTELLIGENCEs. It may also include digital nodes and other types of tangible and intangible assets.
Decentralised indicates the network has no "central" point. Further, a DAO is autonomous. In essence, it has a set of governance conditions, similar to bye-laws of a company, which cannot be changed without participants within a DAO agreeing to effect such alterations. Finally, it has the broadest definition of "organisation", in essence, a method of assembling discrete elements, rather than a fictitious legal person.
A serverless network properly constructed of adhoc nodes with atomised processing, memory, storage, and network interaction with "edge" devices and logical containers, may enable a compelling argument that such DAO is ajurisdictional, i.e. without geographic jurisdiction, or its jurisdictional attributes are solely within its own governance, consensus and sovereignty.
This form of network is not without governance, consensus and voting requirements within the DAO.
Decentralised Autonomous Organisations (DAO) are designed to interface with IAC™ Marketplace Components:
IAC™ Accredited Underwriting Members
IAC™ Marketplace Participants
IAC Digital Currency Holders
IAC Society™ Members
IGX™ is designed as a registry and API gateway services organisation facilitating a broad range of DAO services, connectivity between independent parties who form themselves into DAOs.
IGX DAO Participants in various speciality DAO, may adopt additional credentials related to IAC™, in essense creating specialised DAO specific to IAC™ related interaction.
The four DAOs are sponsored by IAC ISO
DAOs represent a collection of persons and underlying peer to peer or node to node communications and security infrastructure. Their component architecture can create an adhoc mesh network with no central point and hence, arguably no jurisdictional nexus. Add in a server and one may create jurisdictional nexus.
For risk mitigation related to international transacting, applying a separate DAO architecture to each of IAC™ Marketplace Participants, Underwriting Members, IAC Society Members, Transactional Capital and Policy Collateral participants and holders of IAC digital currency units is expected to mitigate jurisdictional risk exposure.
These participants form a network of similar activities which if implemented as an "ajuridical" DAO may be viewed as not having a specific geographic jurisdictional nexus.
These parties may interact with IAC™ Marketplace, located exclusively in Bermuda, through a DAO to DAO "bridge".
Another use of a DAO, which may be centralised, but have a geographically juridical nexus is illustrated above, connecting three IAC™ Insurers' Digital Twins and their IAC Cube™ Administration Digital Twin.
This connectivity is designed to be located in and under the jurisdiction of Bermuda and the IGF Act.
Another use of a DAO, which may be centralised, but have a geographically juridical nexus is illustrated above, connecting the three IAC™ Insurers' Digital Twins and their IAC Cube™ Administration Digital Twin.
This connectivity is designed to be located in and under the jurisdiction of Bermuda and the IGF Act.
IGX APIs are designed to facilitate interconnectivity and interoperability among network nodes and participants.
A key feature is the framework for establishing business relationships between parties and facilitating "Know Your Counterparty" due diligence and updating.