Aeon Magazine reports on something that would have been considered the wildest sort of speculative fiction a few short years ago, but now is on the verge of being viable: Distributed Autonomous Corporations (DACs), business organizations whose management is entirely automated and run by computer programs with sophisticated artificial intelligence.
Further details appear at io9.com.
Many questions arise, not the least of which (from an business entity law perspective) are:
- Can a machine have fiduciary duties?
- Is the management programming an implicit part of the company's operating agreement?
- If so, is the company entirely immune to breach of contract claims (or any other challenge) by interest holders?