# Lifestyles & Discussion > Bitcoin / Cryptocurrencies >  Dawn of Autonomous Corporations, Powered by Bitcoin

## muh_roads

http://btcgeek.com/dawn-of-autonomous-corporations/




> Still waiting for Bitcoin to be accepted at Amazon and eBay? Forget  it. Bitcoin will power the next generation of corporations and the only  way to deal with those corporations will be through Bitcoin (thats  right, they wont, or rather cant, accept fiat like US Dollar). These  ideas may seem futuristic, but they are not more than 5 years away,  maybe 10.
> 
> *Autonomous Corporations* Thats right, autonomous corporations will be a new breed of  corporations that act and behave, for all practical purposes, just like  regular corporations. However, no one owns them. Not the creator, not  the customers, not the governments, no one really. Sound familiar?
> 
> 
>  Bitcoin can be thought of as the first real autonomous corporation  although you probably dont see it that way. Think about it  it  provides a payment protocol and employs miners to maintain that  protocol. The employs are rewarded with stock that is split at most  into 21 million units. You dont have to think of Bitcoin this way to  get to autonomous corporations, though it will help.
> 
> 
>  The idea is the same  this corporation has revenues, expenditures  and profits. However, once again, no one owns this entity, it owns  itself. The reason it exists is to provide a service at an extremely  competitive price that no human-based corporation can provide, so  theyll work higher up the chain to provide value-added services.
> ...

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## Bungeebones

I agree totally and, in addition, the US Government itself will be conducting the very first "IPO" of this "stock" when they, at public auction, put up for sale all the Bitcoin they seized from Silk Road.

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