RE: RE: HIVE CHARITY Dapp - Initial Thoughts - Discussion PLEASE
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RE: HIVE CHARITY Dapp - Initial Thoughts - Discussion PLEASE

grampo(63)
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There are two key performance indicators that define efficiency of charitable organizations:

  • Percentage of the overhead expenses (how much they charge for their services);
  • Transparency and accountability of their work.

I think it is possible to build a process on Hive which will excel on both metrics.

First, the transparency.

Local charitable projects can post regular blog updates about their activities and Hive users may upvote their posts, thus supporting their initiatives. Over time, these projects can build global following and support.

This process is very transparent, because anyone can publicly ask questions and report any abuse/corruption/concerns without any censorship.

Second, overhead expenses.

Hive payments are free, transparent and instant.

But there is one unique opportunity that exists on Hive – match voting.

Example, donor is planning to pay $10 to a recipient (in liquid HIVE) when a weekly status update is published. A match-voting service tracks these obligations and upvotes the post for an additional $2 (10% match - $1 to the author, $1 back to the curator).

This process can be used in 2 ways: increase the total payout to $11, or this amount can be split in two payments: $10 to the recipient (as promised) and $1 back to the management company for overseeing the entire process (compensation account).

The recipient will receive $10 as a combination of upvotes ($1 Hive Power) and liquid HIVE ($9). Management company will get $1 in liquid HIVE.

What happened here, is that the management company collected 10% from the distributed liquid donations to cover management overhead, yet charity performance shows 0% management overhead, because 100% of promised donations reached the final recipient and all the payment proofs are published on the blockchain in a transparent way.

Yes, the process requires that the actual work is being done (projects promoted to donors and their funds are converted into HIVE for distribution via micro payments). This can be pitched to many existing charities to improve their performance and transparency.

No magic money

As discussed, rewards pool on Hive does not come from “thin air”. This is simply a redistribution process, where value is taken from HIVE holders and transferred to beneficiaries using inflation.

So, why would major Hive Power holders would want to support this match-voting program?

For starters, we are talking not about 100%, but a 10% match.

Second, rewards engage real money (liquid HIVE) at the ratio of 1:10, which is a great way to increase the utility value of HIVE and eventually its price.

Third, if these 10% goes to the management company, it means they will be motivated to expand their operations, bring new donors and ultimately make Hive blockchain recognized as an efficient and transparent platform among charities.

Just my 2 HIVEs.

@grampo: There are two | Ecency