eosDAC Ltd has contracted to host its own servers in M24seven’s privately owned data centres in Manchester and Bucharest. M24seven’s state-of-the-art Tier 3 facilities provide comprehensive security, resilience and bandwidth capacity and are ranked Europe’s greenest for electricity consumption. Justin Keery, Technical Director of M24seven, is now also a member of the eosDAC team, enabling him to personally provide the highest level of technical planning and oversight to the ever-growing eosDAC network infrastructure.
There will initially be 2 nodes in each location with 256GB RAM ( Rapid scaling to 2TB is supported) and over 5 TB of usable SSD space. Hardware based firewalls and DDOS prevention are as standard. The specifications will be reviewed on a regular basis and upgrades implemented as
Further servers are being deployed in Gibraltar where eosDAC is also exploring the unique licensing potential available to ‘Distributed Ledger Technology’ operators in that jurisdiction. In South Korea, eosDAC is working on a ‘bare metal through cloud solution’ within an IBM data
eosDAC agreement with eosDAC Ltd
eosDAC has an exclusive arrangement with eosDAC Ltd to carry out all necessary interfacing with worldwide legal and financial regulations that must be met in order for the DAC to operate. eosDAC Ltd will maintain transparency on all its costs (to be published on a suitable blockchain
interface monthly) and will itself be non-profit generating. This contract can be renegotiated or terminated at anytime in the future by eosDAC, should its custodians vote to do so.
eosDAC agreement with Incommsec Ltd
eosDAC Ltd has agreed a unique partnership with Incommsec Ltd, UK. Mike Hainsworth, Managing Director of Incommsec, also a member of the eosDAC team, will personally represent eosDAC Ltd in its operations. eosDAC Ltd has provided up-front funds to Incommsec to allow for the rapid contracting and deployment of operational infrastructure and services in the UK and Europe
eosDAC Ltd is run by it’s Anguillan-based Managing Director Nasreen Bahadursingh, who is both a lawyer and an experienced corporate administrator. Nasreen processes all instructions from eosDAC, oversees payments, arranges monthly account reporting and negotiates contractual matters. eosDAC will be billed monthly by eosDAC Ltd according to that month’s expenditure, payment will be accepted in cryptocurrency.
As of May 2018, eosDAC Ltd has total cash of just over $1 million. This is available to fund all operations that the eosDAC custodians or elected representative(s) instruct eosDAC Ltd to carry out on their behalf. All assets (e.g. servers, IP etc) bought by eosDAC Ltd are held on behalf of the DAC. Should eosDAC choose to end it’s service relationship with eosDAC Ltd, eosDAC Ltd will be closed down and all assets will be transferred to the nominated person(s) or organisation chosen by the eosDAC custodians.
On the 1st June 2018, eosDAC ERC20 ethereum-based tokens will be frozen. Over the days that follow, eosDAC will launch as a Decentralised Autonomous Community on the EOS blockchain and all token holders will then be able to migrate their eosDAC tokens onto the new EOS-based system.
At this point, 12 custodians will be voted in by the eosDAC token holders along with the governing constitution.
These 12 custodians will then be able to work together to run eosDAC’s operations, including employment of all key team members. The current Launch Team members will remain in place until the custodians either reemploy them or replace them.
Envisioned Dapps will include, but no be limited to:
DAC tools and DAPPS will be developed through worker proposals and will be shared with the EOS.IO communities. All tools will be built using an iterative process and will continue to be actively improved through improvement proposals from the eosDAC communities.
Priority will be given to the development of an EOS based Dapp which will allow eosDAC token holders to vote for different options presented based upon their eosDAC holdings.
The eosDAC Operations initiative is about building efficient systems to help people accomplish great things. The tools we recommend prioritize what’s best for the organization. We intend to meet individuals where they are at and also expect them to meet us where we’re going. Our end goal isn’t to control the process, but to empower progress and improve
We’re committed to continually evaluating our workflow processes and exploring new tools to improve efficiency. We’ll also do our best to provide training materials and guidance to those who are not familiar with the tools we suggest while at the same time being fully open to changing things up and looking at new approaches if they can provide more benefit to the community.