London, United Kingdom (PRWEB) November 06, 2017
Genesis Block Ltd., a UK blockchain technology company, is set to develop a framework for decentralized organisation using blockchain. The company will launch the sale of its crypto-currency called Ant Colony Optimization (ACO), which will have a predictable and autonomously managed token supply.
Ant Colony Optimization is an Augur-like reputation token that can be thought of as the score of an individual participant within the organization. Such reputation score system is the key to building business colonies that are an evolving new kind of organizational structure.
"Such framework will provide incentives to peers to work towards a certain predefined goal,” Domen Zavrl, co-founder and director of Genesis Block Ltd., said.
The major innovation here is that the influence of peers will grow and will be based on reputation score. There will be no board members and the de facto leaders will be the peers with the highest reputation score.
Such model will help close the pay gap. Furthermore, the peers can remain anonymous and are judged only based on their contributions so there is no such thing as gender or racial bias.
The goal of Genesis Block Ltd. is to build and maintain the technological framework for such colonial organization. This structure will require the technological framework to develop over time as needed, but this will be made possible only if community consensus is reached.
"We would like to point out that unlike in securities underwriting, there is no valuation method that would allow investors to calculate fair price of any token offered for sale. This is why we decided to partially implement the new idea of Buterin and Teutsch and allow institutional investors to place limit orders in the pre-sale phase. As a result the supply demand mechanics will help close the spread and the sell price will converge to market price," Domen Zavrl said.