Decentralized Autonomous Organizations (DAO’s) have a lot of potential. SmartBCH is software that will help to bridge Bitcoin Cash and Ethereum.
Ethereum enables some pretty amazing things with Solidity and Smart Contracts. I was using Ethereum when fees were around $0.30 to $0.60. The fees seemed sort of high, but not so high as to make Web3 unusable. Now with transaction fees around $12.00, Ethereum seems much less useful for decentralized finance.
DAO’s with Bitcoin Cash can be especially interesting, since if transaction fees for SmartBCH can stay near where they are for Bitcoin Cash, then those Earning less than $5 per day can start to participate in Web3.
Ideas for DAO’s with Bitcoin Cash include the following. Incentivize the development for open source designs of vertical farms. Use DeFi (decentralized finance) to allow investors to fund vertical farm building in developing nations. Investors could earn profit and help to eliminate hunger. Another DAO idea is to have open source learning and teaching materials, and also to fund research – sort of a university DAO perhaps.
Wyoming has recently passed legislation to enable DAO’s to exist within mainstream legal frameworks.
How can decentralized finance help to facilitate social entrepreneurship?
What sort of Decentralized Autonomous Organizations might you like to see started on SmartBCH?
Hopefully SmartBCH will move from testnet to mainnet as soon as realistically possible; and hopefully SmartBCH will live up to its seeming potential to enable Web3 to exist without ridiculously high transaction/usage fees. Bitcoin Cash can help to effectively bank the bank and maybe even enable DAO’s in which billions of humans can participate, even with incomes less than $5 per day. Decentralized Autonomous Organizations and cryptocurrencies may be the future of business.