Bitcoin is an independent currency outside the rule of centralized authority. As such, by using it, you too become an independent contractor operating outside the rule of any centralized authority. By forming a team and creating a platform using Bitlov, you are essentially creating an organizational structure that is outside the rule of centralized authority — a Decentralized Autonomous Organization or Distributed Autonomous Company. These organizations utilize AI autonomous agents (what we refer to as Rubrics) to perform functions maximizing output by dividing its labor between itself and tasks for humans to perform.
While we tend to think of a Distributed Autonomous Company (DAC) as one completely reliant upon artificial intelligence, this doesn’t preclude the involvement of natural, human intelligence. For example, humans can interact with a DAC’s functions by casting votes or by performing paid, incentivized tasks. As long as an organization’s financial functions are distributed, along with the necessary autonomous agents, it is, for all intents and purposes, a Distributed Autonomous Company.
Even if your company hosts its website on a centralized server, as long as the payment mechanisms to pay the hosting provider are decentralized, you’ve got a DAC. You can go even further by decentralizing the organization’s people power (its workforce), as well as using a decentralized domain, such as Namecoin’s .bit.
Now, let’s talk about some of the basic features and functionality offered by Bitlov. These consist of:
- Bitlov’s User Interface
- Pocket Sharing
- Enrollment Forms
- Payment Widgets
- Recurring Payments
- Bitlov Encumbrance
- Escrow Time Capsule
- Arbitration Integration
First, a Bitlov Pocket resides within distributed Rubric containers. These Rubrics are the computational engines (or autonomous agents) which perform the rules and automations dictated by each Pocket. The Pocket contains the rules you’ve assigned to be carried out. Essentially, anything can go into your Pocket. Using Bitlov’s UI, you can build very basic or very complex IF/THEN conditional logic.
Bitlov Pockets & Sharing
A Pocket may have one owner, or it may be shared, by the original owner, with multiple others. To do so, a user would apply the social functionality within Bitlov to invite others to participate or by using a Bitlov form whereby he would embed it into a page so others can join.
For example, a Bitlov Pocket can be created to accept payments using a Bitlov payment widget, but it can also pay commissions to those who sign-on to become affiliates (who will drive traffic and sales).
Once others are part of your Pocket, you can even give them voting powers to channel your organization’s decision-making, whether via Bitlov’s voting interface or a third-party platform, such as BitCongress. Whether you use voting for your customers, your employees or your team, it is an essential part of making things run more efficiently and fairly.
The consumer can utilize the Bitlov payment widget to view any Pocket automations the organization has made known. The consumer can see where his payment goes after its been sent. For example, he might learn the funds are not released to the seller until there is a ping by Federal Express notifying that the product has been delivered and accepted.
To do such a thing relies upon another Bitlov feature we call “encumbrance.” To encumber something means to restrict or burden it in such a way that free action or movement is difficult. With typical transactions, once money has left one’s wallet, he or she has no control over what happens next. Using Bitlov Encumbrance means that spent monies must obey the rules mandated and agreed to by all parties. If both parties have agreed to enable a chargeback, under certain measurable conditions, Bitlov encumbrance can bring confidence that funds will return to the payor if the terms are not satisfied.
Bitlov Pockets also interconnect with Bitlov wallets, as well as other Pockets, binding them to agreed upon terms requiring recurring payments. Useful for subscriptions, membership payments or automated giving — no modern payment solution is complete without automated recurring payments. With Bitlov, recurring payment capabilities aren’t an afterthought… they are the heart of the matter.
Escrow “Time Capsule”
While automations wait upon specific conditions to be met, keys and files reside within a Pocket’s Escrow “Time Capsule”. Satisfied conditions can then unlock data for release to whomever or wherever or however was specified by the automation’s logic. Some conditions may require many years for satisfaction. All content is secured in the distributed and decentralized Rubric Services Network.
And since every Bitlov Pocket can connect with third parties and other platforms, a Bitlov widget would also reveal if a merchant is using arbitration, such as Bitrated or net-ARB. If not, a consumer may have already initiated a rule into his wallet to either enforce the use of an arbitrator or deny the transaction with this seller, from the outset. These essential components will enable anyone to create a Distributed Autonomous Company.