A Big Step Towards Our Decentralized Future: I've Joined the eosDAC Launch Team!

in #eosdac5 years ago (edited)

Back in 2013 when I started my bitcoin journey, I learned about the terms "DAC" and "DAO." My mind was totally blown.

According to Wikipedia:

A decentralized autonomous organization (DAO), sometimes labeled a decentralized autonomous corporation (DAC), is an organization that is run through rules encoded as computer programs called smart contracts. A DAO's financial transaction record and program rules are maintained on a blockchain. The precise legal status of this type of business organization is unclear.

Did you notice that last part? That's what gets someone like me so excited.

If you'd like to watch me talking through this post instead of reading it, please scroll to the bottom to view it as a video.

This is an Opportunity to Change the World.

We're all aware of the corruption we see in nation-state governments around the world and the crony, revolving-door, regulatory captured corporations who maximize profits for board members at the expense of customers (and the planet). One of the promises of decentralization and blockchain technology is to not only expose this corruption via the transparency of a global ledger, but to also give individual stake-holders actual power in the decision-making process of larger entities via smart contracts and stake-holder weight.

I've been excited about DAC/DAO's since day one. To me, they represent the obvious future where technology allows, for the first time, networks to be more efficient than hierarchies. I think much of our primitive tribalism causes us to gravitate towards hierarchy even in situations where we rationally prefer flat networks.

For us to succeed, we need structure and tools to make progress towards our goals. That's where eosDAC comes in.

eosDAC is taking the DAC concept and bringing it to community:

A Decentralized Autonomous Community (DAC) is governed by its constitution, which is encoded in smart contracts on the blockchain. This revolutionary way of bringing a community together as a cooperative is made possible by the EOS software. The DAC is controlled by its token holders and the board members they vote to run its operations.

I won't read through the whole website, but please go give it a read at https://eosdac.io/

If you scroll down far enough, you'll see me there as well as a new member of the launch team:

eosDAC will be built on top of EOS and itself is a candidate for becoming an EOS block producer. That's similar to a STEEM Witness (which you can learn more about here). I love how we'll be building tools that we use ourselves as a DAC. So many people in the blockchain space understand the concept of a DAC and the value they can bring to humanity, they are just waiting for more proven examples of how they work. This means eosDAC has the opportunity (and responsibility) to not only set an example for what's possible, but also become a positive force in the world others will use to decentralize existing systems.

We can be the example of the change we want to see in the world. Not only that, as we try, struggle, fail, succeed, and grow, the tools we create will be open-source and available to others for managing their own decentralized, autonomous communities.


I'm a huge fan of Dan Larimer based on his explorations of free market solutions to secure life, liberty, and property for all. I consider him one of the most prolific blockchain developers in existence as the creator of ProtoShares, BitShares 1.0, BitShares 2.0, STEEM, and now EOS. He has genius-level abilities and even those who don't like something about him personally admit his technical blockchain skills are incredible. I want to be involved in helping EOS because I've already greatly benefitted from @dan's creations in BitShares and STEEM, and I see how those creations can improve well-being in the world. I see EOS as an enterprise-grade platform for building many more decentralized systems we can all benefit from.

I started blogging about EOS and their ICO over ten months ago (here, here, here, and here). I even spent a day learning Wren back when it was thought that would be the language of EOS smart contracts. I'm passionate about EOS, but I couldn't decide if I was going to put myself out there as a solo block producer candidate or if I was going to team up with an existing team. I also figured my existing company might take up too much of my time which is why I sold it. For weeks and months I've been talking with @eosnewyork and @eosdac as they both approached me and asked me to join them.

It was a tough decision, but this Monday I put together all my thoughts in a pros/cons list for my three options (solo, NY, or DAC) and met again with each group to make my decision. As much as I love and respect the @eosnewyork team and think they will be a hugely valuable block producer to the EOS system, my desire to see decentralization improve the world convinced me to take a risk and join @eosdac. There are no proven models to follow here. It's uncharted territory.

I like the gift-economy approach eosDAC is taking which includes an airdrop of eosDAC tokens to all EOS token holders. A snapshot takes place in less than 10 days, so if you have EOS on an exchange, you may want to consider moving to a wallet you control so you can benefit from it:

via eosdac.io

Holding the eosDAC token will allow members who join eosDAC to participate in the governance of the DAC. The best way to think of them are as free invitations to join a club. Keep in mind the "legal status of this type of business organization is unclear" so we're purposefully making no promises here as to what token holders should expect.

For more information, please see eosdac.io and the eosDAC FAQ.

The Future of EOS and STEEM

Many who have been following the drama between Ned (CEO of Steemit) and Dan (co-founder of Steemit, now building EOS) are probably asking, "But what about STEEM!?!" In my opinion, competing currencies and competing blockchains in an open-source framework is a wonderful, beautiful thing.

Yes, EOS may some day have a competitor (or multiple competitors) to Steemit running on that blockchain. At this time, I do not view that as a direct threat to STEEM or Steemit. Just as I still use Facebook, Twitter, Medium and the like, I will still use Steemit in the future unless I have a reason not to anymore (sorry MySpace, I don't even know my old login).

By working with eosDAC and EOS, I think I'll only further increase my value to the STEEM blockchain as a witness. Thankfully, that's not up to me to decide and will ultimately be judged by the STEEM stake holders and their vote. My hope is, the DAC tools we build for eosDAC will help DACs on many blockchains including STEEM to better organize their communities for effective action. I have zero intention of decreasing my focus on STEEM, even as I continue serving the larger blockchain community with education, experience, and development.

Joining a team is a big deal for me because it involves putting my trust in others and a brand in ways I can't control. From what I've seen of the eosDAC team so far, I'm feeling really good about this decision. I really believe those involved want to improve the world, and I like the DAC structure as a fantastic way to do it.

If you want to get involved and contribute, please join the eosDAC Telegram channel. There are opportunities to contribute which may involve eosDAC tokens as well, so join up and check it out.

Thank you all for your continued support of my witness @lukestokes.mhth as I work to help educate the community about cryptocurrencies, DPOS, and STEEM. I care very deeply about social engagement (I'm up over 11.6k posts and comments now!) because this is a social blockchain powering social applications. In my opinion, just as it's important for witnesses to have technical skills, they should also have social skills to properly support and appreciate the applications they enable.

I also wanted to mention, in case someone notices and draws the wrong conclusion, I'm powering down for the first time since I joined Steemit. The sole reason for this is because our tax bill this year was nasty due to cryptocurrency trading in 2017. I want to keep some STEEM liquid in case we need to access it as a family for other expenses. I know many voluntaryists and anarchists passionately advocate not paying taxes (and I agree with them!) and yet I've seen very few who are publicly exposing themselves and their families to the dangers of either not filing or filing fraudulently. I won't get into my reasonings for why I think taxation is a form of extortion, but I did want to bring up my reasons for powering down in case someone was confused.

I'm as committed to STEEM and excited about its future as I ever have been. I think this blockchain will radically improve the lives of many millions of people, and that's why I'm so very honored to be here. I've also put my money behind what I believe in. Back in July of 2016, I invested 9.5 BTC into STEEM and that investment is down almost -7.75 BTC (lesson learned: don't FOMO buy at the top of the market). I'm not concerned because I've not only received great value from that investment through blogging, relationships, and experiences thanks to STEEM, but because I believe in the future value of this "blockchain of opportunity" as @andrarchy described it last weekend.

If you're here reading this, you're part of the decentralized revolution. The financial war we're in requires tools to win, and I believe STEEM, EOS, and eosDAC will help power those tools.

Strap in. It's going to be a wild ride. :)

As always, if you have any questions, please fire away, and I'll do my best to answer them. This post represents my personal views as they are at the time of this post and not any official views of eosDAC.

Luke Stokes is a father, husband, programmer, STEEM witness, and voluntaryist who wants to help create a world we all want to live in. Visit UnderstandingBlockchainFreedom.com

I'm a Witness! Please vote for @lukestokes.mhth


Congratulations, Luke! @eosdac is lucky to have your expertise!

Thanks guys! I really look forward to working with all the BPs as we launch this thing. :) As always, I'm available to help however I can to everyone who's working to improve the world through this stuff.

Yes yes yes @surfyogi just told me about this and https://steemit.com/witness-category/@lukestokes/eos-is-alive-object-computing-steem

Very exciting stuff! I will be watching your videos interviews and i shared that one interview on Reddit here so i hope reddit.com/r/eos recognizes you man!

A must watch for all my followers ima leave it on my recent post

Thanks! I really enjoyed that interview. :)

This post has been translated into Korean : https://steemit.com/eosdac/@eosdac/eosdac

What amazing news for the whole community. You are such a strong leader that gives as much or more than what you ever take out.

Congrats! Lets chat as soon as it is convenient for you.

Absolutely! I'd love to chat soon. Thanks!

Hey Brother~

Really respect and love you as a being. I don't know to much about anything EOS, but I would love to learn more.

I also feel "competition" is healthy and I do feel there is room for both steem and EOS. As of now EOS is still more of an Idea than reality but it is a idea of great potential indeed.

I would love to hear a lot more about what ur talking about and how I too can get involved.

I have made 16k comments and never once powered down or cashed out even ONCE. I am as committed as it gets but that doesn't mean I am an evangelist or a cultish type who talks fun about anything but what I am invested in.

I believe in decentralization, in free market, in blockchain and in whatever works the best. Looking forward to more education from you. Your intelligent and honorable, very rare to find these days and even if you don't want to call your self special you are very abnormal ;-)>

I wish you and you family the best, I know if you felt it was safe or your family you would not pay the tyrannical empire those taxes but sometimes there are things more important than being unwavering all ideals.....Considering moving to Puerto Rico?????

hahhaha Bless Brother~*~

Hey Quinn. I hope you do learn about EOS as I think it's going to a fundamental part of the decentralized future powering global, decentralized organizations in transparent and voluntary ways. Also, eosDAC will be creating tools I think you'll find very useful to build the types of organizations you and I have discussed in the past. The DAC/DAO structure is an excellent path forward, and we're going to be building tools to make this a reality for everyone who wants them.

And yes, i am definitely considering moving to Puerto Rico for many reasons including surrendering less funding to the tyrannical empire.

Great to hear!

Will look forward to more of your posts on this matter and even more hopefully some in person conversations about the future potential!

Question; wil the eosDAC token pay some sort of dividend of any kind?

That's certainly possible. Once the launch team launches eosDAC and the eosDAC tokens holders who become members (they have to agree to the constitution/terms of the community), they they will elect people to run the organization who will decide how funds will be transparently used to run the block production and fund development. What is left over will then be available for this potential, but I'll defer to the website for details: https://eosdac.io/tokens/

Thank you for both of your replies!

You certainly seem like the right person to be part of a project like this; so congratulations on your decision!

I have read a lot about EOS as one possible gateway towards a decentralized future, and I see a lot of people (at least in the crypto/blockchain and developer fields) be excited about it.

Perhaps you can explain though — to someone non-technical — what EOS "does," aside from providing some sort of supremely innovative infrastructure, and a token? What does it DO (or have the potential to do) that will directly impact the average person on the street?

The only analogy I can think of is oil and gas. Oil is a "commodity" that trades (a bit like token) on world markets, and a lot of people get excited about exploration, extraction and refining. But that doesn't amount to a hill of beans to the average person in the street... they just want to know what the product is, that will help their daily lives.

So what does/will EOS actually DO, at "street level?"

Thanks for your time!

Excellent question. Thank you for asking.

Maybe a similar way to think about it would be task "What does the STEEM blockchain actually do?" OR "What does the BitShares blockchain actually do?"

By themselves, they do nothing. They are just decentralized, globally distributed, immutable, cryptographically-secure ledgers (i.e. databases). I know, that's a mouthful for "street level," but those are the best words I've found so far to describe what's going on.

Now, when you look at the Bitshares wallet/decentralized exchange or at Steemit/DTube/UTopianIO/DLive/etc... then you might start to get a feel for what's possible. The EOS blockchain itself is more like a protocol. TCP/IP is just a protocol, but it enables the entire richness of Internet we all enjoy. SMTP is just a protocol, but it's what makes email work. EOS can be looked at like the Amazon Web Services (AWS) of blockchain technology. Much of the internet runs on AWS right now because they have a huge economy of scale with proven tools that have worked for a very long time. EOS, in a similar way, will enable corporations around the world to have enterprise-level access to blockchain technology to build the systems of the future. It can deliver on promises other blockchains have made, but can't handle (such as Ethereum crashing due to cryptokitties).

Dan Larimer is building EOS because he wants to build the low-level protocol that he can then build everything else on top of. Every aspect of society and governance that will be improved via distributed ledger technology could then be built on top of EOS. It's a really exciting time to be alive. :)

Thank you for taking the time to reply!

Some of this is becoming a little clearer; the comparison with AWS was helpful. I do remember the cryptokitties "meltdown;" not impressive. At the same time, exciting because it seemed like one of the first retail level blockchain events. At least to some extent.


Congratulations on your decision, Luke!
I suppose that the eosDAC team is extremely proud to have you on board.

Also I appreciate that you underline that we - as blockchain enthusiasts - are able to join different projects without necessarily needing to decrease our loyalty towards one of them. People who recently blog posted about EOS related topics - including myself - have been criticized by the Steemit community for the simple reason that many believe @dan's baby is and will be the no. 1 competitor to Steem. My answer to them was always the same:

I'm a free and curious human being, highly interested in blockchain technology, cryptocurrencies and all related topics and projects. The fact that I consider EOS a promising project doesn't mean I'm not attached to Steem anymore. Not at all.

Now reading this post from a Steem witness is a break through in that context! Thank you :-)

Now I'll be reading all the articles you've linked in yours.

Enjoyed and resteemed to my followers
Have a great weekend!

Thanks Marly!

I love your comment and it just reminded me of something. I have three kids. When one child is born, the love for the other children doesn't decrease. The focused attention and individual care doesn't go away. Instead, our hearts expand, and we become even more passionate about helping, growing, and learning.

Thanks for understanding and for helping others understand as well. I think STEEM is one of the best blockchains out there to help the entire cryptocurrency space grow out of theoretical protocols to real tools which improve people's lives. Steemit is where we can talk about it all. :)

“Our hearts expand”... that’s really beautiful. Thanks for the great comparison! I haven’t kids yet but two little brothers, and I never needed to divide my feelings but could provide both of them with 100%.

Enjoy the weekend, Luke!

Thanks Marly, you too. :)

Oh wow! The prospects of the DAC is huge! That's awesome, Luke! I'm happy that you're taking an active role in this. That Launch Team looks solid! I qualify for the eosDAC, so I'm looking forward to helping out and contributing in whatever way I can. EOS has been a favorite of mine even before Dawn 1.0, so I'm happy to read about all of the progress they've been making. I've played around with it a bit, and I'm hoping to think of innovative uses for the platform. Excited for the decentralized future!

Thanks Jed! It's pretty exciting stuff. We just a launched a new explainer video for the eosDAC airdrop:

That was a great explainer! It was very comprehensive yet easily understandable. Looking forward to unlocking the full potential for this! The DACs look like such a gamechanging concept in terms of companies and communities. I just wish I had more EOS!

I just found you, and about to just dive down the rabbit hole that is your blog page, lol. I love how informative you are! I never knew what those terms meant but then again I didn't take time to google em either haha. It's like there's so much information available to us now, with the internet at our fingertips, but not enough time to sift through it all, hahaha! Plus with more and more new cryptocurrencies coming out all the time, it's like, well, which ones are best to invest in?
Anyways, see ya around :)

Glad to know it was helpful for you. Thanks for stopping by. :)

This is really great, the airdrop, you being part of the team and all. I also think EOS is quite a healthy competition for Steem and might even play some role in increasing both their values.
For the airdrop anyway, any particular EOS wallet you would recommend. (Don't have a single EOS but planning on getting some now)

Great question. I'm a fan of the Ledger Nano S. With it and MEW you can manage all ERC20 tokens. Once the official EOS token comes out, I'm sure there will be a native wallet.

Awesome article Luke! eosDAC is lucky to have you, and I'm super excited to see what the world looks like in 5-10 years from now as a result of all these new economic mechanisms.

It's hard to imagine a few months from now, let alone 5-10 years! What an exciting time to be alive. :)

Thanks Andrew.

Hi lukestokes,

First, congrats on following your core belief about EosDAC.

Second, must took lots of guts to sale your e-commerce business to proceed with EOSdac project.

I do not understand everything said about this project you have joined but sounds like it will be worth while cause that you believe in strongly.

Much success.

I sold to focus on many things, including STEEM. eosDAC is just the latest opportunity to come my way which I'm so excited about. Thank you for your encouragement!

You are welcome. I am sure you will succeed.

Congratulations Luke! I figured when you said you sold your portion of Foxycart that you wouldn't be un-employed long. Didn't know it was going to be this cool of a project though, that's awesome, congrats again and looking forward to seeing what happens.

Thank you. I've actually been doing a lot of stuff since I sold Foxy, but none of them really feel like "work" to me. This tweet kind of summarizes it best:

Dude didn't know that you were that deep into it....that's good (although I knew from our previous conversations that you are kind of a veteran). I hope you keep the good work up.
PS: Excited about the airdrop as well!

Thank you! Yeah, the airdrop should be fun.

Congratulations, Luke. I was, kind of, expecting this. EOS needs people like you because it is being built for people like you. As Dan put it:-

The community I want to participate in will expel the rent-seeking vote-buyers and reward those who use their elected broadcasting power for the benefit of all community members rather than special interest groups (such as vote-buyers). I have faith that such a community will be far more competitive in a market competition for mindshare than one that elects vote buyers.

You fit the need here. People with economic understanding, enhanced worldview and good intentions are what will make EOS a success.

Congratulations again. I know Steem experience will benefit you a lot. Thanks for your contributions here.

I hope everything I learn can help improve STEEM as well. There are a lot of smart people working in this space and every project that aims to improve human well-being will help improve every other project with a similar aim.

I hope that too. I have advocated for Steem so much that criticism seems counterproductive. That's why I keep things that I'm not comfortable about Steem(it) are kept to myself or limited to comments on relevant posts. There's a lot that I, and many like-minded people, would like to be removed or improved. A competitor will be a great push for Steemit Inc. I hope a giant is developed on top of EOS.

thank you for informing us of your presence within @eosdac, very happy with that, I am EOS enthusiastic, and your vision confirms the full potential of EOS! i ressteem your post on french feed!! im french EOS lover!! @yann85

Thank you for stopping by. Are you familiar with @roxane at all? She does a lot of great work for the French community. Maybe you all could join the @eosdac Telegram and help us get our French translations and community together?

I don't know personaly roxane she's probably very busy, I'm already on the EOSDAC telegram. it would be a pleasure for me to help you with translations, I'm trying to get as much information about EOS as possible from the community my name on telegram is @fabinho thanks

I looked for you in the Telegram but didn't see you. Strange. Say hello in there, and I'll keep you mind when we get to building out our French presence. Thanks!

ok its good ??

Hey @lukestokes,
Man this opened up my brain like never before.
EOS is offering an alternative pathway.
From what I read, see Nd hear it's obvious that the blockchain is planned from bottom up.
I can see structures already being planned and the launch is just barely 2 months here.
I can't even fully imagine what it's gonna be like.
Now you are mentioning an interesting concept here DAC!
Like that's the holy Grail of future blockchain.
I just think that Dan is unlearning his mistakes from steem and building on it in this new network.
As you have said, we will remain on steem but also hold stakes in the new system.
Cheers for making my evening!
I feel so blessed!

Thanks for saying so! I'm glad you enjoyed the post.

Great post as always.
I do believe that governments aren't perfect (especially your American one) but I also believe that there are a lot of great benefits you you experience everyday because of the taxes that you pay.
There are many places in the world that would be willing to pay for things that we take for granted.
I am sure things will work out with eosDOC. Good luck in your new journey!

I understand that perspective, but to me it doesn't change the very nature of the act of taking someone's property without their consent.


I take your wallet out of your pocket and remove your money. You protest, but I threaten to bring men with guns and put you in a cage if you resist. Later, I buy you a nice sandwich with your own money.

It's still theft.

Doing something "good" with the money (and many, many bad things with it also, btw) doesn't change the nature of someone's property being taken against their consent. This is one of the many reasons I'm so passionate about blockchain technology and DACs. I want the world to enjoy service providers because I believe all human interactions should be voluntary. Yes, some countries have things worse that others, but that does not give any individual (no matter what costume they wear or ritual they want through to represent a government agency) the right to take the property of another individual.

To me, the key is building systems where we can take care of those who can't take care of themselves and do it voluntarily and efficiently. That's the future. Systems based on threats of force are archaic. I feel we can do better.

@lukestokes congrats for the new beginning. eosDAC looks great project. I wish you all the best. EOS is always a great project as well. So don't forget to join EOSIO Hong Kong Meetup live stream on April 6th

Good luck with the project Luke. On the other side, this could be a real threat for Steem, for sure with you on board!

I don't have a tribal or competitive mindset on these things. I think all the projects benefit each other as people involved learn and cross pollinate ideas between various strategies.

Oops, that was not the idea behind it. I did not want to insult you or accuse you of something. I don't know you good enough to do this!
It was meant to be positive feedback. I do think that EOS will profit a lot from your expertise, and this way this could be a threat for steemit, cause EOS could/should be seen as a competitor for steem.
I do agree that both project could benefit from each other!
Sorry for the confusion!

No need to apologize at all. No offense taken in the slightest.

Thanks for your encouragement.

I hear a lot about EOS, well when are they planning to start their blogchain?

The FAQ mentions June 1, 2018 at 22:59:59 UTC as the moment the the EOS token distribution will be complete, so the blockchain will have to be up and running by then. The RC1 (release candidate 1) is almost ready, from what I hear.

Well that's really Good, get prepared for something interesting

Wow, it's incredible information you provide.
I am very interested in that. Hope I can join.

Wow, sangat luar biasa informasi yang anda berikan.
Saya sangat tertarik dengan hal itu. Semoga saya dapat bergabung.

great post. thanks for the share. i appreciate your perspective

That sounds clear and easy when I read your post, on one hand I think it is really a good thing to start learn how everything works and try to put your input in it. The is future and if we want or not it is coming and going to grow or it is like a train that we need to jump on if we want to get further. Your message inspires to take time and educate yourself. I like that you explained in such easy way :)

Thank you! I'm always trying to explain complicated things in simple terms. I really appreciate hearing it worked for you.

Sounds very interesting and exciting and I know with you on their team it can only get better.

Thanks Frank. :)

Huge congrats bro and thanks for the reminder to put my EOS to my MEW! Fingers crossed to all 3rd generation Coins!

It's an exciting time to be alive!

Great idea to have the text and vlog versions!

Now let's get to decentralizing everything ! 😎

@lukestokes I just read the entire post and it makes me very excited because I understand very well where a Crypto World can take Humanity in so many Positive Ways. I may even need to consider a little more EOS now with the great things that it will do.

Thanks for commenting. Yeah, it's really an exciting time to be involved in this space.

interesting~ ^^

its great planning,,thanks for EOS,,,
MY DEAR @lukestokes

Like the vid @lukesrikes

Will look into eos thanks for the info.

Congratulations @lukestokes! I had a lot of respect for you already but this post sent shivers down my spine! You're putting your heart and soul into where you see yourself making the most positive impacts on the world - awesome job!!!

Thanks. Now if I could just find time for more sleep... heheh.

I wish you continued success in your new project and I'll be keeping an eye on its progress. Looks very interesting and will dive in deeper into the website link you posted here. Thanks.

You still have my vote as a witness and I think you're doing a great job of it.

BTW, a report just came out that it is estimated that less than 1% of U.S. citizens who made a profit trading cryptos in 2017 paid taxes on their gains. I don't know how the IRS could enforce it as it stands right now.

bereh lagoe nyoe

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