DACs and DAS
We have devoted an entire chapter to decentralized autonomous organization (DAO). We also discussed at length, the infamous DAO hack and the vulnerabilities associated with its sloppy programming.
In this section, we will try to understand two similar-sounding concepts that are easily confused with a DAO. These are decentralized autonomous corporations (DACs) and decentralized autonomous society (DAS).
To fuel our confusion, it is also true that DACs are a subset of DAO. The term DAC was coined by Daniel Larimer. He stated that DACs pay dividends, while DAOs are inherently non-profit. In a DAC, shares are purchasable and tradable in some fashion, and those shares potentially entitle their holders to continual receipts based on the DAC's success. Of course, we can make money from a DAO, but not by investing in it; by participating in its ecosystem.
As stated by Vitalik Buterin, the distinction between DAO and DAC is more of a fluid one and hinges on emphasizing to what extent dividends...
