by Stan Larimer, President, Invictus Innovations, Inc .

You may not have considered it, but Bitcoin can be viewed as an unmanned company – or a Distributed Autono mous Corporation (DAC) if you prefer.

Unlike passive currencies, Bitcoin derives much of its tangible value by performing a trustworthy confidential fiduciary service. Essentially, it keeps private books for customer “checking” accounts and will transfer credits between accounts upon receipt of a properly signed “check”. Aren’t these some of the same private services for which Swiss banks were once famous – back when privacy was something they could really offer? Isn’t Bitcoin more like a bygone Swiss Bank than a commodity or a colorful piece of paper?

Would a DAC metaphor fit Bitcoin even better than its current coin metaphor?

Distributed Autonomous Corporations (DAC) run without any human involvement under the control of an incorruptible set of business rules.…