EarthFund launches “DAO-as-a-Service” system to decentralize social good
EarthFund, a blockchain startup that uses decentralization to advocate social good, is going live with its highly-anticipated Decentralized Autonomous Organization (DAO).
Upon launch, EarthFund DAO establishes an online community dedicated to causes its group members are passionate about, be it the environment, climate change, or sustainable growth for future generations.
This was a huge, landmark moment for EarthFund’s ecosystem which also doubles as a DAO-as-a-Service platform, one that constitutes an innovative framework that paves the way for people who want to contribute to building a better world. Users will be able to join subcommunities dedicated to the areas they’re passionate about — from carbon capture to fighting inequality — and vote on what projects to fund to help fight the problem.
According to the team’s roadmap, Earth Fund DAO aims to revolutionize the concept of the decentralized autonomous organization. DAOs, in their extant iteration, have emerged as a way for groups and communities to organize themselves under a system of decentralized voting and governance. The mechanism has been used to manage treasuries where community members are able to vote on the usage and initiatives of funds to achieve a collective vision or goal.
In its current state, however, DAOs’ architecture is mainly focused on creating efficient voting systems and governance models. In taking this one step further, the Earth Fund platform allows for direct crypto donations to the different causes, with each of the subcommunities is given control over how those donations are used and distributed.
“We’re seeing a shift in the crypto space from a focus on short-term profits to using it to build a better future for everybody. That’s why we partnered with EarthFund to launch our NeverAlone token and democratize and decentralize the way that projects focused on tackling the mental health crisis get the funding they need to make a difference,” commented Chopra. “By launching causes like ours, the EarthFund platform won’t just change the crypto space, but make the whole world a better, happier place.”
In addition to solving the problem of governance, which EarthFund has been arguably pretty successful at, the platform also wants to provide humanity with a transparent and accessible donation platform covering a wide array of causes.
More specifically, Earth Fund wants to solve a number of issues that have disillusioned people from donating to worthwhile causes. Chief among them is the accountability of funds, with projects not only chosen by an elite few, but centralized charities are also taking between 26% and 87% of donated funds for “administrative” purposes. By decentralizing the governance model, it allows all participants to have a meaningful impact on its organization and funding.
“We think crypto has an unparalleled opportunity to be a massive force for good, but it hasn’t been fully adopted yet mainly because of usability,” said Adam Boalt, Co-Founder of EarthFund. “So far, crypto native folks have spent their energy on often frivolous causes, such as trying to buy a piece of paper or a virtual monkey profile picture, but with EarthFund, we’re focused on making crypto accessible so everyone can harness its potential and help truly world-changing causes to get the funding they deserve.”