Image for post
Image for post

Decentralized Companies House

The Registrar of Digital Entities

RE EL

The Decentralized Companies House is the world’s first non-sovereign company registry.

Where anyone, anywhere in the world can form a nationality-agnostic digital company.

Instantly and for free.

Connect people worldwide to instant and affordable real-world business capapbilities by removing barriers on the formation, ownership and operating of trustless enterprise.

Making ‘doing business’ accessible to everyone starts with making setting up and running a new business instant, simple and affordable.

Make business entities an effective business instrument instead of a passive legal vessel.

Make the process of forming a new company fast, simple and free.

Equip digital entities with instant and affordable real-world business and financial capabilities.

Expedite the transition into AI-ready enterprise.

Beyond digitalization lays automation

Digital entities range from basic rule-based entities powered by smart contracts to self-governed, next-generation entities. Or ‘very smart, very robust’ contracts.

A decentralized entity coupled with a ‘sufficiently smart’ (or ‘intelligent contract’) can make for an AI-governed digital vessel.

A self-governed digital agent with a distinct legal identity.

An Autonomous Legal Person.

Decentralized Entities

An association of nodes under a ‘smart’ programmable agreement on the blockchain.

A decentralized entity is a set of nodes associated under a programmable agreement on the blockchain.

An association of otherwise unrelated nodes in a decentralized network is now represented by a smart contract — as a distinct digital agent. Each node runs the entity contract locally, together forming a global, decentralized entity.

Nodeholders

The individual nodes associated under a digital entity are its nodeholders.
Each nodeholder is an individual user, represented as a node on the network.

Nodes form new digital entities and become their nodeholders. Assigned with executive roles or equity rights in the underlying associations they create.

Nodes assigned with principal roles in a digital entity are its executive nodeholders. In charge of directing the entity’s activity, executive nodeholders vary according to the entity type.

(e.g. Chairman node in a decentralized company or a general node in a decentralized fund).

Nodeholders assigned with equity rights in a decentralized entity are its equity nodeholders. Holding a claim on the assets of the underlying association, equivalent of the amount of equity tokens they own in a given digital entity, between 10 ^(-5) and 100.

Contract of Association

Underlying any decentralized entity is its contract of association.

An immutable programmable agreement representing the association of its nodeholders as a distinct digital person.

The associating contract stores the entity’s unique network identity. Each digital entity is represented on the network by the public address and private key of its associating contract.

The contract of association stores the business logic powering decentralized entities. The logicbase varies according to the entity type and nature of association.

The contract of association is auto-generated at formation and published to the registrar blockchain. Where it’s stored through the entity’s lifetime.

Tokenized Equity

A Transaction Mechanism of Equity Right on the Blockchain.

Agents on the network can hold and allocate equity in digital entities. Ownership rights in decentralized entities are allocated via network transactions of ‘equity’ tokens between nodeholders.

Each decentralized entity is created with a set of entity-unique equity tokens. Equity tokens enable nodeholder to allocate ownership rights in decentralized entities via network transactions.

A decentralized entity is created with exactly 100 unique, transactable equity tokens (100EqT). Corresponding to a legal ownership of up to 100% in the assets of its underlying association.

Equity in a decentralized company can be assigned to any individual node and most types of decentralized entities.

Minimum Transaction Size
The smallest transaction size is 10 to the power of (-5), setting a nodeholer’s minimal equity stake in a decentralized company at 0.00001%.

Maximum Transaction Size
Since a digital entity has exactly 100 unique tokens, the largest transaction size by a single nodeholder or nodeholding entity is 100 tokens.

Equity rights are tokenized and stored on the registrar blockchain, in an immutable record of ownership.

The Registrar of Digital Entities

The entities registrar is an online platform for creating smart legal and next-generation entities for free.

Entity formation takes place on an online platform coupled with a business logic (‘protocol’) layer. Together forming a decentralized application for creating new digital entities.

The protocol logicbase is programmed to write and publish the smart contracts underlying new decentralized entities.

When a new digital entity is formed, the registrar protocol auto-generates its underlying ‘smart’ contract. The entity contract is then published to the registrar blockchain, where it stores the new entity’s identity in its state throughout the association period.

The registrar blockchain is a decentralized network maintained by the decentralized companies house. Stored on the registrar network are the associating contracts underlying all decentralized entities.

Forming a new decentralized entity in a simple, streamlined process:

1. Select Entity Class and Type
Choose between a smart legal entity and a next-generation entity. Then choose the type of entity under the given entity class.

2. Enter Entity Name
Enter the official name of the new digital entity.

3. Appoint Nodeholders
Appoint the entity’s key nodeholders.

4. Allocate Equity
Select at least one equity nodeholder to be assigned with ownership rights in the new entity.

5. Generate Entity Contract
Generate the associating contract underlying the new company.

Pending nodeholder confirmation of their assigned roles and equity — the entity contract is then published to the registrar blockchain. Containing the new company’s unique keys and data.

Written by

Superpositioned Intelligence

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store