Imagine, for instance, a bike-rental system administered by a DAC hosted across hundreds or thousands of different computers in…

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Imagine, for instance, a bike-rental system administered by a DAC hosted across hundreds or thousands of different computers in its home city. The DAC would handle the day-to-day management of bikes and payments, following parameters laid down by a group of founders. Those hosting the management programme would be paid in the system’s own cryptocurrency – let’s call it BikeCoin. That currency could be used to rent bikes – in fact, it would be required to, and would derive its value on exchanges such as BitShares from the demand for local bike rentals.

Guided by its management protocols, our bike DAC would use its revenue to pay for repairs and other upkeep. It could use online information to find the right people for various maintenance tasks, and to evaluate their performance. A sufficiently advanced system could choose locations for new stations based on analysis of traffic information, and then make the arrangements to have them built.

–David Z. Morris, ‘RoboCorp’ (2015)