launched today, Artha fundA decentralized non-profit platform that aims to allow anyone to use blockchain technology to raise funds for causes that promote goodness around the world.
Blockchain technology and cryptocurrencies have a great opportunity to improve the world and become a major force for good, but so far this technology has been used for short-term gains, with little impact felt by those those who need it. According to Adam Bolt, co-founder of Earthfund, the technology “has not yet been fully adopted, mainly because of its usefulness”, and that’s what his company is trying to change.
Boalt further shared, “Until now, crypto natives have often spent their energy on trivial reasons, such as trying to buy a piece of paper or a virtual monkey profile picture.” “But with Earthfund, we are focused on making crypto accessible so that everyone can harness their potential and truly help world-changing causes get the money they deserve.”
In the past, blockchain projects have ensured decentralized autonomous organizations (DAOs) as a transparent channel to raise donations, track them, and reach every cent in need. Since the stories of ConstitutionDAO and UkraineDAO, the concept of creating a DAO to fund real-world causes has become mainstream. Despite token incentives as a power to do good and demonstrating the power of crypto, many of these charitable DAOs have ultimately proven not to be effective.
Despite this, setting up a funding DAO was strictly reserved as a task that only experienced Solidity developers could undertake. Regular companies and individuals could not establish the necessary infrastructure to finance the DAO, which limited the potential impact of the technology.
Earthfund aims to change this through its simple and intuitive UI that allows anyone to set up the DAO for their favorite tasks with real and meaningful impact. With a simple UI and a full-stack ecosystem approach, founders, donors and users can make their voices heard in the real world. Founders can easily set up their DAOs, attract funds, and even offer token incentives to entice more people to contribute.
EarthFund Toolkit is designed for all three classes of participants in the DAO Initiative. For the founders, it provides a seamless, plug-and-play platform that allows the launch of ERC-20 tokens and DAOs with gas-free governance. For the users, the platform brings rewards for using their voice and voting to further the cause they have. For donors, EarthFund provides a place for people dedicated to investigating projects to donate crypto and making sure the money makes as big an impact as possible.
At launch, the platform will include pilot initiatives from top philanthropists including Deepak Chopra and Dr. Lucy Tweed, who aim to fund The DAO for mental health and carbon removal causes, respectively.
“We are witnessing a shift in the crypto space to focus on short-term profit to use it to build a better future for all. That is why we partnered with Earthfund to launch our NeverAlone token and The way projects that focus on tackling the mental health crisis get funding, are democratized and decentralized, which makes a difference,” Chopra commented.
Ultimately, EarthFund will aim to address the issues of accountability and transparency that cripple charity centres, humanitarian causes and charities. Today, charities typically take between 26% and 87% of donated funds for “administrative” purposes, while the remainder is deployed as creators see fit. EarthFund leverages blockchain technology and decentralized governance to ensure that all funds are used for the right purpose and decisions on how it is spent remain democratic to all stakeholders.
Image by Anja-#pray for ukraine# #helping hands# stop the war from Pixabay