Decentralized Autonomous Governance on Bitcoin Blockchain

In my thesis, I describe the design concepts and implementation for a Decentralized Autonomous Governance(DAG) on Bitcoin blockchain. A DAG, described in here, will be launched by a group of people who want to co-manage their bitcoins directly for any reason. DAG is actually a software and all governance rules are specified in codes. When a DAG is launched, the whole bitcoins are saved in DAG and the people who providing bitcoins will receive another tokens for representing their shares and voting powers. The token-holders interact directly with DAG by voting for approving an application of bitcoins or not. The voting powers are corresponding to their amount of tokens. Every token-holders can apply for bitcoins. The bitcoins will transfer only when an application is approved by enough token-holders. All the processes above will be recorded on Bitcoin blockchain. In my thesis, I will implement my design on “GCOIN Layer” gradually.