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The Inheritors

September 16, 2015

 

blockchain-presentacion-betabeers-galicia-10122014-19-638Contrary to the opinion of Stephen Hawking and others, creation of an Artificial intelligence is not the thing we should fear most. It is a proliferation of Decentralized Autonomous Corporations (DACs). A DAC in the corporate form of a Decentralized Autonomous Organization (DAO). They already exist and their numbers are growing.

Matthew Mather describes a Decentralized Autonomous Corporation (DAC) as a network of artificial intelligence agents which divides its labor into two parts: (1) tasks it pays or incentivizes humans to do, and (2) tasks which it performs itself.

It can be thought of as an organization run without any human involvement, under the control of an incorruptible set of business rules.

Like most corporations it generally cannot be terminated except by the investors, often has more rights than ordinary citizens and cannot be imprisoned if it breaks the law. Its investors, shielded by law, are responsible only to the extent of their monetary investment for the actions of their creation.

Someday in the not too distant future, they will inherit the earth — what’s left of it.

From → Commentary

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