We often discuss the idea of Hive changing people's lives. This is something that is very important. The key to money is the impact it makes upon people.
Hive is going to generate enormous wealth over the next decade or so. This is something that is becoming clearer with each passing day. We are seeing a great deal of building taking place, providing everyone involved with the infrastructure to achieve that end.
Of late we saw the interest paid on Hive savings moved up to 20%. This creates a very interesting situation, not only for individuals but the community as a whole.
If we get innovative, we might be able to come up with many unique possibilities.
Hive Borehole Project
When we say that Hive is making a difference in the lives of people, this is not just a line. We have many example of how this is taking place.
There is, however, a community in Ghana that is being impacted everyday. The Hive Borehole Project is providing drinking water.
The Hive Borehole Project was successfully launched today and the water facility is ready to serve the residents of the Fawoade town.
Hive has indeed set a record in Ghana today, being the first blockchain to fund a project that will impact the lives of many people in Ghana.
This is some powerful, real world stuff. It is one thing to operate in the digital world, generating amazing applications. However, when we see photos like this, we can be sure the impact is on a much greater scale.
Of course, this helps to bring attention to what is taking place here.
We gave a short talk about Hive in English and our local dialect (Twi) and introduced them to the innovative decentralized blockchain that is powering many decentralized applications, communities, and projects. We made them aware of how much more they can do with Hive and why it is important to spread the word about this amazing blockchain. Everyone who sees the project or hears news about what took place today would be glad to be the part of the Hive ecosystem. We're also glad that the many misconceptions about cryptocurrency and any online-based network system have been dispelled. The people of Fawoade were able to see the impact of Hive in their lives today, and they were able to experience the Hive blockchain's capabilities.
Here we see an example of Hive showing up in acre meaningful way. Hopefully, this translates into another level of understanding of the potential that exists here.
Hive certainly is helping to usher in The Age of Abundance.
What can we do to take this to the next level?
Hive Charitable Foundation
This is where we apply a bit of creativity.
The idea is to have our own digital foundation. It is different from what we see in crypto where entities such as the Ethereum Foundation exist to aid in the operate and development of the blockchain. Instead, we go along the lines of the old school ones like the Ford Foundation.
We have a unique entity already in operation called the Decentralized Hive Fund. This DAO is designed to fund Hive based operations based upon community vote. Why not take this one step further?
Perhaps we vote in a proposal that creates a payout of a few hundred HBD each day. This money is put into a savings account earning 20% APR. On a daily basis the amount grows since money is continually being fed in there.
Individuals could then opt to send HBD directly to that wallet in an effort to help out. Perhaps front ends could add another option that, instead of burning the rewards on an announcement post, would allow the Foundation to receive the payout. If they wanted, front ends could also have a .5% or 1% beneficiary set.
The goal is to have the money grow and only use the interest to pay for projects. We operate it all in HBD, providing another use case for the token.
Projects would submit an application to be considered for funding. Anyone around the world could be eligible.
The question is how would this work?
A Second DAO On Hive
We already have the Decentralized Hive Fund. Why not have the Hive Charitable Foundation built in a similar manner? We use the DAO concept as the new model for charitable giving.
Of course, the power of this would come from the fact it is at the base layer. We copy the workings of the DHF to create another one. Interested parties would submit proposals that the community votes upon. A certain threshold has to be reached for funding. The proceeds paid out are based upon the revenue generated by the fund from the 20% APR. If we get the addition of a time locked option as detailed in Hive Savings Bonds, that can be utilized for improved returns.
The project teams that get funded would receive daily payout from the Foundation DAO. This would go for a certain period as detailed in the proposal. Over time, the goal would be to keep growing the base in the DAO so more projects would be funded.
From this perspective, here is a way that Hive can expand its reach by having significant effect in different communities. This is obviously of great benefit from a humanitarian perspective. However, if we look at this from a marketing perspective, we can also see how this will have results.
Reaching people in this manner is going to get the Hive name out there. We can conclude that most of the members of this community in Ghana will remember the name "Hive". It helps that they are seeing it each time they go for water.
We see a number of benefits for Hive a move like this:
- create another sink for HBD
- have more HBD generated by putting more funds in savings
- market the Hive name through charitable giving
- show the value of a DAO and how it can change the giving model
- further the spread of HBD as a payment coin
- show the power of cryptocurrency and what Web 3.0 can do
- attract more people to the ecosystem
- HBD that goes into the Foundation is locked up forever
DAOs are going to become a powerful structure very soon. We are already seeing some experimentation with them. Once again, Hive was ahead of the curve, implementing the DHF over 2 years ago. Now we can set the example again by going one step further.
What are your thoughts on this? Could something like this work in your opinion? What are some of the drawbacks that you see? Is this a worthwhile path for Hive to take?
Let us know in the comment section.
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This is a really nice initiative and will go a long way to build good public image of the Hive Blockchain and increase its potential for growth.
A charitable organization built from the Blockchain is a really nice and welcome idea. It is a really pleasing sight to see that the Hive Blockchain is branching outside our smartphones, computers and servers to touching lives of real people who may even know little or nothing about Hive.
The main problem with charity is that most projects may go on poorly maintained an oversaw since most projects will be community-based.
So, are there systems being put in place to ensure that these projects enjoy more than just a launch event, but enjoy durability and sustainability. What efforts at community mobilization and advocacy was put in place? Where efforts at community diagnosis put in place to really identify the community's need and develop a project to meet the identified needs . These are few checks and balances to ensure that funds go into good charitable use, and not just charitable use.
In an attempt to create more DAOs, creating a new pool for new projects is a nice and welcomed idea, through which, with the little efforts of community members, significant amount of funds could be generated to build these organizations.
However, I'm still young perse on Hive, maybe, I've had less exposure compared to most veterans, but it's the first time I'm hearing of the DHF. So, I'm sure that most persons on the Blockchain may know very little or nothing about this. Thus, the need for frontends to find a way to make it more visible. So, I'll definitely vote for this.
I've always been of the idea that the Blockchain should extend more than it's current confines and do more in the real world, and I'm pleased to see that my desires were already being implemented.
If provided the opportunity, I'll really enjoy working with different teams on making the evolution of more DAOs a success.
While humanitarian DAOs makes a lot of sense. How about DAOs that increases the circulation of the Hive Blockchain currencies while still offering real practicability, the consequence of which will be increased need for Hive education, increased use of Hive currency usage, and in the long run, Hive/HBD price that sours to the moon. I've some few suggestions.
The DHF is based upon the community votes. Each person uses the criteria he or she does for the vote placed. Something like a charity or humanitarian DAO would be the same. Each would be responsible for deciding how he or she voted.
Reputation would end up being a large part of this. Those who are known have a better chance of getting through. Of course, you bring up a point at the charity level, does that project have the people, expertise, and ability to do what they claim? Again, that will have to be determined.
Sadly none of this is perfect. Perhaps there are ways to get people more information about projects. Certainly on chain activity is helpful. For example, I am sure the project team behind the borehole could get funded from something like this. They now have a track record of some success.
Keep on learning about Hive. You will find a lot of great things here.
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Definitely! I'll keep learning more. I've been researching and reading a lot lately. Hope to be well versed soon!
A very good way to market Hive out there, I think it will further take Hive to the Real-world.
When Hive starts solving problems for individuals and then growing to support a local town or community, as time goes it would be the talk of the whole country.
A plan to fund Charitable Foundation with HBD savings is a good strategy that will serve even bigger purposes as time goes on.
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It seems to be a powerful use case that Hive can tap into. This starts to enhance a few different aspects of the ecosystem at the same time.
I wonder what some others will think about it. Having Hive take the lead in DAOs only makes sense. We have the development funding already in place with a DAO. Perhaps we can become the leader on another level too.
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Yes we can. I believe we have what it takes here to make that happen.
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Yes we do. It is just a matter of opening up the discussion. I will revisit the topic down the road.
We need to get passed the upcoming hard fork first.
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That will be a good idea.
Hope to see how things goes after the hard fork, idk when that will be tho. Any idea?
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The goal is the end of May but it is all going to depend upon the testing. They are in the process of finishing the set up now. If all goes well they will notify the exchanges and then keep testing.
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I am all for Hive funding charitable projects. This is only one of the amazing use cases and tremendous potential that we are creating here.
I don't see any benefits in creating a separate DAO. Do you? Our Decentralized Hive Fund already has things in place - payouts in HBD, community voting, thresholds. Anyone can submit a charitable project proposal there. What I see as missing is some kind of additional verification because I suspect most people would have concerns about fraudulent projects getting funds. So perhaps if the project gets funded but the funds are held in a decentralized escrow, subject to release by an already known and trustworthy person (specified in the proposal), that would help alleviate people's concerns and they would support charitable projects.
Separate funding mechanism. Some might object to the DHF resources being used. Plus that cant invest in the savings to get the APR. We could set up a separate DAO that could do that.
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What a fantastic initiative.
This will go a long way to enlighten people that crypto and blockchain tech is here to stay!
I can just imagine how much impact this would make in my country (Nigeria).
I'll keep an eye out, to see how your idea grows. I would love to contribute in my own little way, when the time comes.
Thank you for touching lives!
I wouldnt look for it to emerge anytime soon. It is however worthy of discussion. This is how things work. It takes a while. The idea needs to be tossed out there and discussed for a while, Then, as people start to embrace it, feedback emerges and ideas start to take shape.
Then the witnesses or the base coders can start to take notice and further the process.
Welcome to life in the decentralized world.
However a charity DAO makes a lot of sense to me.
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You've planted the idea. That's what matters.
You've demonstrated a successful trial.
I'll be here when it finally goes live!
It is the first part in a long puzzle.
We will have to keep pushing the discussion.
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Wow! I had no idea that such a project existed! This is exactly the reason why I believe in blockchain technologies and Hive, specifically. This is really bringing change to where it's most needed.
The idea of having a charitable foundation setup as a DAO is a great one. I've been involved with a charity in the legacy financial system and it can be a pain. Even that is awfully complicated in the current system and it's yet another thing that Hive can fix.
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It would cut out a lot of the extra expense (and corruption) that comes from middlemen.
So it is an idea that I believe has merit. We will have to see how far it goes.
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I currently live in a community where clean water is a challenge.
I will love hive to help this people. How do you reckon I go about it?
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Yeah I applaud the initiative that was taken in Ghana. Hopefully more of that occurs.
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I think projects like the borehole project is a great way of promoting hive in a tangible and positive way.
I am however not sure how easy it would be for these communities to actually become active on hive due to perhaps not having the tools available (PC's, WiFi, etc.) as well a the computer skills needed. It would be great if the people could also be taught on how to post.
I have introduced Hive to so many people but very few has started to blog!!
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Most of Africa operates on phones. They bypassed a lot of that other stuff and went straight to mobile.
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It is difficult to overestimate what you have told and clearly demonstrated. I think for these people, precious water will always be associated with the Hive.
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The fact there is a sign there really helps.
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Increasing and channeling HBD inflation to charitable projects is a great way to add utility and users for the stablecoin. I don't see how this couldn't work if there is enough voting stake to prevent big stakes from milking HBD from DAO with fake projects or how this risk is any different from DHF other than the projects are smaller and shorter meaning that you need to change votes more often. I assume those who don't have the time will use voting proxies.
That would have to be determined upon set up. Naturally we would want some type of verifications in place.
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This is some pretty amazing stuff. I had no idea that the water facility was happening! Amazing what can happen when communities come together.
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Yeah I missed it until it happened. It just shows a lot more happening than what we see.
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Wow, wow, wow.
I need to learn to think like you and people like you.
This post I find absolutely amazing.
I am so excited about the possibility that I cannot think of any draw backs at all.
Amazing stuff happening with Hive that I had no idea about.
I am a believer more than ever that Hive is the Web 3.0 that the world needs and Hive will be the leader.
Bradley
!BBH
!ALIVE
Its amazing how Task generates ideas, not just ideas for the sake of getting heard but ideas even if we don't agree we can add or alter it to see how fitting it is.
A lot of admiration for him!
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Absolutely
A lot going on within this realm but I am very interested in it all.
Might be a lot more difficult in other areas.
I am glad that you find them helpful and not too outlandish.
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Just tossing out some ideas. Who knows how viable it is or if it could even come to fruition.
However, it is important to start discussions about different things. Over time, some of them will make sense and be implemented.
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Well, these latest thoughts could be revolutionary for Hive.
A truly decentralized Blockchain that can give back to the human race. Every one needs to have a deep thought about your thoughts today. This could be humanity at is best.
My mind is racing.
Hopefully it starts to trigger the minds of others to start racing too. This is how we innovate. Ideas can come from anywhere. It is up to all of us to put them forth.
We never know where the breakthrough idea will come from.
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Along with my Positivity suit, I am going to start by building a thinking hat...
Just make sure it isnt made out of tinfoil. LOL
Although that might fit in around here.
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Hahahahaha
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So the broader feature here is to let each community set up their own DAO. The proposals would be community specific. You could then create a Hive Charitable Foundation community. To limit endless DAOs, maybe there is a fairly steep initial fee. Community leaders could then run the DAO to avoid scams, etc. maybe a feature is only trustworthy community members can make proposals, etc. Just brainstorming.
Very interesting idea. I am not sure how that would work at the base layer, if it even could be coded there.
But that does move it to another level, that is for sure. It would also allow for people to be targeted in what they want to support.
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It's not trivial for sure. Splinterlands has that, but will take a while before it becomes functional. And it wasn't easy to create the whole thing and the work is still not over.
But overall, communities that will have associated DAOs will have a big advantage in the future. That would be thinking ahead.
It turns them into business structures which opens up new avenues. When coupled with tokenization we see how they can become economies in their own right.
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Hive is showing love, the way it is enriching individuals can not be over emphasized and this community project is a big fish 🐟
Yes it was a terrific initiative and I am glad those people were able to tap into Hive to provide what that community needs.
This is how we can say that Hive is changing lives.
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Oh yes, this can definitely work as it will help our charity work and it will also spread the hive name resulting in much exposure. Sounds like a win-win situation as many donor entities have also adopted this same approach.
As you might know we have a 21v year track record with a multitude of successes and a look at our latest pinned post will show you one of our latest projects in action.
Care should be taken to only list registered and verified Non Profit Organizations in good standing with their governments.
No doubt many scammers will try their luck.
!BEER
That is true. Sad but we would have to somehow build in safeguards.
Of course, the one benefit to this system is, if someone is revealed to be that, people can quickly unvote and stop the flow of funds.
But you are right, some things to consider.
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Agreed and perhaps as great weeding tool that we can use is an accredited auditing system similar to the one that Greatnonprofits.org uses. No one can know better about a charity than the communities that a charity claims to serve. So community input and auditing of the charity's finances and registrations would be the way to go.
Something similar to this as it was our last audit before we relocated down here and now that we are settled in I will apply again this year.
There are many ways to approach it. Perhaps even if that is used as a metric for people to vote upon.
If people are serious, and diligent, something that lack could give people the info they need.
But this also could extend beyond established charities. What if there is a need in a community that a few individuals see and want to solve? If they are Hive members, in good standing, it could get funded.
A lot of different possibilities when you think about it. Sure many particulars to work out but in concept it is filled with great potential.
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Absolutely agreed with you, as it can have a great many benefits and it can create a very good name for Hive.
I only felt the need to highlight the dark side, but I am sure that with the correct planning it can become a real winner.
The potential far outweigh the negatives.
There is always a dark since when dealing with humans. The DHF has funded some real jokes over the last couple years. Some of the stuff wasnt build, others were ill advised.
But overall, like you said, a net positive. It would be good to do something similar with another DAO on Hive. To me, it would offer enormous potential.
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There is a great need in this world and anything to help will always be a bonus and valued.
An ideal field for Hive to sow its seeds as a good name will always have results.
Tremendous potential indeed.
Thank you and all strength to your efforts.
!PIZZA
This is a good project that hive has achieved in Ghana, The borehole would help a lot of people because water is essential to life.
I think if we can manage to keep it legit and not someone’s slush fund like most charities are, this could certainly go a long way. I think people like @papilloncharity would be someone I would think could use the funds for this in a positive way, but I’m also glad to read about this benefit in Ghana!
Let’s hope we can keep the winds of change in our sails and not let things bring us down, being successful in measures like this means it’s one more chip in the falling of the tree that is corporate greed and corruption, being able to do this ourselves instead of through some charity that takes 30%+ in fees and administrative costs.
Many charities are not far from total scams. It is sad but that is how things operate. We would have to improve on what is presently done.
One big advantage is we can do direct funding. Plus since it is using HBD, it can be tracked, at least until that is converted to another currency. If it grows, perhaps some of the transactions will take place in HBD.
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Thank you for your confidence in us @cmplxty and it is sincerely appreciated.
You are also 100% correct about the fees and the administrative costs.
!PIZZA
I think this is an amazing step forward. By actually having an impact on smaller societies, we can push out how useful Hive is and there are a lot of options for them to get funding (blog posts, donations, or DHF). With how unknown Hive is, it will definitely be a good PR move to get more people to know about Hive in general.
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It could really have an impact. Just an idea that came to me while listening to CTT the other day.
A lot of options with Hive with HBD now.
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I recall having a private chat with Nathan Mars some time back and I mentioned how can we set up charitable way of helping the needy out there and this was ideas been thrown around to give Hive exposure.
This no doubt is no brainer, I would gladly donate towards a course like this in the name of Hive.
Hive Charitable Foundation is a good idea I see no reason why we shouldn't pursue it and make it work, the drawbacks might be trying to abuse the system creating false project, which is where we need to thoroughly investigate proposals before approvals.
This is beautiful seeing what Hive is doing in Ghana, am quite impressed with this and I doff my hat for the team behind this.
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There are certainly drawbacks to it, much in the same way there is with the DHF. We funded stuff that never got built.
So there are some challenges but I wanted to get the idea out there. Technology is available and we do have ways to use blockchain for greater benefits.
That is why discussions around these concepts is important.
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It's really heartwarming seeing Hive showing love and kindness to not only it's users but also those outside the blockchain. This borehole project would be so helpful yo the members of the community than we can imagine. I've seen how people suffer because of no clean source of water and I know how important this is. Great job to the team involved and every one who made this a reality.
Yes. It was a project I was unaware of but it is great to see them pull it off.
That helps Hive and the individuals behind the project. Hopefully it will translate into more like that.
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Ah! This is the power of crypto and blockchain. Lifting up the lives of fellow human beings is the ethos of Web3.
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If we keep nurturing it, we can keep it going. It all starts with the focus upon making radical improvements. With technology, this can be accomplished.
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I am pretty sure more people from developing countries will benefit from DAOs like this one in the upcoming future. We don't need banks to crowdfund anymore.
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Well and the money cant be intercepted or stolen.
Plus the overhead isnt there. Most charities end up paying a lot in salaries to friends and family of founders. It is really nothing more than a major money grab.
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This is one of the coolest stuff I've seen!!!
Real people are getting real help. This is a blockchains really helping the folks who can really use some help. We need to do more charity works like this. !PIZZA !LUV
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Great idea! I will support the creation of a Hive Charitable Foundation that will work like DHF. We can't imagine the impact this could have in the global hive community. Hive Borehole Project is quite impactful.
We are quite proud of what Ghana has accomplished with hive. It has gotten us a lot of media attention in Ghana. We are pleased to project hive so high in Ghana and beyond with these promotional efforts. Thank you for recognizing and supporting us, sir @taskmaster4450.
https://hive.blog/hive-154303/@mcsamm/hive-borehole-project-in-ghana-receives-news-coverage-from-10-media-houses-in-ghana-effective-promotional-project
Loving these water projects.