It’s one of many causes that Gitcoin and other so-called impact DAOs are funding through blockchain technology.
Consider it the blockchain version of a nonprofit.
These organizations aim to correct what they see as the institutional underfunding of public initiatives and causes.
Crypto enthusiasts have created DAOs for everything from buildinghigh-status friend groupstobuying the Constitution.
With impact DAOs, however, the mission is more philanthropic – and ambitious.
They have been created to support everything from reproductive rights organizations in Texas to aid for climate change.
Impact DAOs run counter to the idea that everything related to cryptocurrency is about making a quick buck.
In practice, it’s a bit muddier.
It’s just one of the many ways the crypto world intends to overhaul the status quo.
The nebulous idea broadly refers to a decentralized internet deeply integrated with crypto and NFTs.
We can’t just exist in this metaverse.
We need to actually have impact in this world as well."
“There’s times that can be great and that can be effective.
There’s times it’s going to only cause more problems and make things harder.”
Mathias is open to new ways to simplify philanthropy.
He worries impact DAOs may move too indelicately for the charity process.
The project is still in development, but city3 has been working with Oakland residents to participate.
“The specifics are harder for folks to grasp.
And then using the technology the way it is today is even more challenging,” Jones said.
Jones stressed that they are working on these issues, and city3 is still in the early developmental stages.
The real world
Some of the skepticism around this new technology is justifiable.
Even when it fulfills its purpose of raising funds for different causes, the results can raise some eyebrows.
The funding came just a month into the conflict.
