Befund proposed "DAOS Service: a new form of commercial service"

Gong Ming, a blockchain veteran, once proposed in the book "Blockchain Society: Decoding Global Applications and Investment Cases of Blockchain" that the current business society model began to gradually take shape in Europe in the 17th century. Compared with the traditional feudal society at that time, there were many improvements in financial systems and laws and regulations. The most important financial systems and laws and regulations are double-entry bookkeeping, company systems, and laws to protect private property. The birth of these systems and rules laid the foundation for modern business society, thus giving birth to an unprecedentedly prosperous modern business society. Therefore, we can call them the three cornerstones of business society.

From then on, human society began to move from a feudal agricultural society to a commercial society, which not only greatly liberated productivity and promoted the development of commercial finance, but also gradually changed the entire human social organization. Anyone familiar with the modern commercial social system must have great respect for these three great innovations, because they have played an extremely huge role in promoting the wheel of commercial history. Even in the Internet age, we can still see that they play a good role in promoting the development of the Internet.

However, blockchain has the potential to evolve these three cornerstones to a whole new stage. First, in the world of blockchain, double-entry bookkeeping has become distributed general ledger technology. Double-entry bookkeeping is a relatively complete bookkeeping method developed from single-entry bookkeeping, also known as double-entry bookkeeping voucher. Compared with single-entry bookkeeping, its main features are: each economic transaction is recorded in two or more interrelated accounts with equal amounts (i.e. double recording, which is why this bookkeeping method is called "double-entry"); there is an objective correspondence between the accounts, and the results of the account records can be trial-balanced. Double-entry bookkeeping can better reflect the inherent laws of capital movement, can comprehensively and systematically reflect the ins and outs of capital increase and decrease changes and operating results, and help to check account processing and ensure the correctness of the bookkeeping results; and distributed general ledger technology allows each node in the system to have the opportunity to become a bookkeeper, and ensure the balance of the book data in each time period. All the data are traceable. Not only are they highly redundant, but they are also highly secure and completely tamper-proof. They can be considered a real-time auditable accounting method.

Secondly, in the world of blockchain, companies become distributed autonomous organizations (DAOs). Unlike the complex and slow mechanisms of traditional companies, DAOs are like fully automatically operated companies, where anyone can join and exit at any time. The company's tokens become the only currency running in the system, and concepts such as income and profit disappear completely. The structure of the company's operations is greatly simplified, leaving only investors and producers, which will greatly improve the company's operating efficiency. Every DAO, like a listed company, can issue tokens that can be circulated at high speed, which means that its value will be completely determined by the market from the beginning, without having to be determined by the market after it grows into a listed company through long and complicated financing and review.

Finally, in the blockchain world, the law protecting private property has become a smart contract. In the traditional business world, private property must be protected by law. In the blockchain world, private property can be protected through blockchain technology and smart contracts built on this technology. Assets on the blockchain and the smart contracts set up by it cannot be tampered with or destroyed at will. In fact, as long as you do not hand over your private key, no one can take away your assets on the blockchain, and no one can change or terminate the smart contracts that have been set up and are already running. Traditional laws and related systems to protect private property rely on judicial organs and law enforcement agencies to ensure their operation, while blockchain and smart contracts can achieve this goal entirely through programs, and the social costs saved and the efficiency improved will be far beyond the reach of traditional methods.

Therefore, when the three cornerstones of traditional business society, double-entry bookkeeping, company system and laws protecting private property, are transformed into distributed ledger technology, distributed autonomous organizations and smart contracts, this will completely change the structure and operation of the existing business society. Although blockchain technology has always been considered a disruptive technology, many people still regard it as just a technological change. However, if we look at the more profound social foundation, perhaps the biggest change in human business society in history is about to begin.

The emergence of DAO based on blockchain technology represents the enlightenment of new business civilization. However, the current DAO has not designed the operation mode of the organization and is only at the conceptual stage. On this basis, Befund proposed the concepts of DAOS, DAOS Service, and DSO (DAOS Service Organization).

DAOS, the full name of which is "Decentralized Autonomous Organization With Smart Contracts", has the following characteristics: First, the organizational form is a distributed autonomous organization (DAO); second, the organization's operation is based on smart contracts, which are programmable and upgradeable; third, it is incentivized based on tokens.

DAOS Service is a service form with the DOS organization as its core.

DSO, also known as DAOS Service Organization, is an organization that serves the DOS organization and has the following characteristics: first, it provides services to the DOS organization; second, it uses tokens for service incentives; third, it signs service agreements in the form of smart contracts; and fourth, it conducts financial management based on a distributed ledger.

Compared with traditional corporate service agencies, DOS service agencies have many advantages. Traditional enterprises need to spend a lot of time and energy to establish corporate legal structures, and need to invest a lot of time and energy in legal and financial affairs. However, DOS service agencies do not need to do this. Based on the open source and stable blockchain infrastructure, a service entity can be created quickly and at low cost. DOS service agencies are service-oriented organizations. The mission of this organization is not to subvert the centralized corporate system, but to serve the DOS organization, a brand-new business form, as a new service form.

The future business transformation will be driven by the Dows organization. Behind the Dows organization are a large number of Dows service agencies. They help the Dows organization to operate in an efficient and transparent manner. Driven by the encrypted digital currency fund, a large number of Dows organizations and Dows service agencies are incubated, and eventually a new business ecosystem is formed in the blockchain world.

Compared with centralized organizations, the DOS organization is built on blockchain technology and driven by smart contracts. The circulation of tokens and public ledgers provide a credit basis, while the decentralized organizational form requires that the DOS organization must be community-driven from the beginning, with its core members distributed around the world and no centralized operating organization. This means that the DOS organization is inherently dependent on other third-party services, thus providing a living space for various DOS service agencies, which are intertwined and connected with each other to jointly promote the development of the DOS ecosystem. As more and more DOS organizations emerge, more and more corporate service organizations will become DOS service agencies and participate.

In the process of establishing a new commercial civilization, the role played by funds is indispensable. The managers behind the funds can see through the fog of history and see the future. High-quality fund managers, with their own reputation, pool investors' funds and then inject the funds into the hands of some innovators of the times. Compared with the changes brought about by Internet technology, the speed of change based on blockchain technology may be faster, because the encrypted digital currency exchanges around the world provide natural liquidity for venture capital, and the cycle of this change will be greatly shortened.

Why is the Befund project revolutionary? Because the flow of money has changed. The currency in the fiat world is supplied by banks, while the currency in the blockchain world is supplied by the project party. Befund itself is a Dows service agency that serves the Dows organization, including encrypted digital currency funds and blockchain projects. Befund supports and cultivates a large number of encrypted digital currency funds, solving the problem of value discoverers and funding sources for the Dows organization. With financial support, the large-scale landing of the Dows organization and Dows service agencies becomes possible. In the blockchain world, each project is a token issuer and has the ability to issue tokens from the beginning. The tokens it issues are endorsed by the credit of the project itself. Therefore, the traditional lending relationship is reconstructed into an investment relationship. The fund has become the largest value discoverer in the ecosystem. They subscribe to tokens from the project party and then invest in the Dows organization in the ecosystem, thereby driving the circulation of tokens.

We use the circulation model of BFDT tokens in the Befund ecosystem as a reference. Befund provides a replicable solution for all token circulation. As long as the roles of investors, funds, Dows organizations, and Dows services are fully configured, any token can quickly realize its basic use value.

BFDT Token Circulation Model

Today, the revolution of the times is just around the corner. The concept of decentralization has taken root in people's hearts, and the cryptocurrency ecosystem has been initially improved. At this time, the Dows organization, Dows service agencies, and cryptocurrency funds have become the vanguard of the new commercial civilization. The new commercial civilization has sprouted, and a new form of commercial service is taking shape.

Official website: Befund.io

Telegram address: https://t.me/BFDChainTokenCN

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