Imagine a vending machine that not only takes money from you and gives you a snack in return but also uses that money to automatically re-order the goods. This machine also orders cleaning services and pays its rent all by itself.
Moreover, as you put money into that machine, you and its other users have a say in what snacks it will order and how often should it be cleaned. It has no managers, all of those processes were pre-written into code
Horizontal Systems is a DAO (Decentralized Autonomous Organization) built on Ethereum blockchain and it works just like this vending machine.
It aims to be governed by its shareholders via digital smart contracts and be driven by capable software engineers in a decentralized, transparent, immutable and incorruptible manner. Note that we are not a DAO yet and this is currently in development stage.
Engineered To Survive
The governance and operational protocols in Horizontal Systems DAO are enforced by publicly open smart contracts which are designed from the very start to ensure that organization operates as intended.
Anyone may become a shareholder of the Horizontal Systems DAO and take part in shaping company’s future in a trustless, reliable and transparent manner.
To become a shareholder the person needs to buy Horizontal Systems DAO tokens, known as HSDAO tokens. The tokens sold via DAICO model to eliminate any risk of fraud and protect shareholder’s funds.
Collectively, shareholders maintain full control of profits and raised funds. They also get to control who leads the development team. Should there ever be a need for it, the shareholders can dissolve the Horizontal Systems DAO and split the company’s financial assets between shareholders.
Horizontal Systems DAO employs developers that build commercial Decentralized Apps. All generated profits generated by DApps are managed by smart contracts which distribute these funds between shareholders.
Any capable blockchain developers may become an open contributor and subsequently an equally compensated full member of the Horizontal Systems development team.
The Horizontal Systems was engineered to live indefinitely. As long as there is at least one shareholder the DAO will continue to live an be governed in a trustless and decentralized manner.
DAOs are required by their nature to be open source so that all underlying code used in DAO is open to public for scrutiny. All DAO rules and financial transactions are recorded in the public blockchain and operational protocols are enforced by digitally coded autonomous smart contracts.
Horizontal Systems keeps the entire software production workflow including to-do tasks, upcoming milestones, team communication and discussions on Github.
Every single line of code powering Horizontal Systems DAO incl. its products is open-source providing any software engineer an easy way to verify that apps work as claimed. Anyone is able to monitor the team, work being done, every single code change, close to real-time!
There are no disclaimers or agreements here, but the open code!