An idea came today for a Steemit application while watching some YouTube videos of Dan Larimer talking about Bitshares...
There's been discussion about using Steemit as a means for charitable fundraising - and this smart contract-based application would:
a) make it simple & easy for anyone to raise & transfer funds to a NPO of their choice
b) attract more quality people & organizations doing amazing things in the world to Steemit & Bitshares
c) create additional revenue streams for Steemit/Bitshares, strengthening their value proposition
The app would create a bridge between Steemit and Bitshares, allowing any Steemit users to launch a charitable campaign by donating a percentage of their rewards to a NPO/NGO of their choice - AND the funds be transferred directly to the organization's account through a Bitshares smart contract.
Rather than having to go through the lengthy, complicated process of converting Steem Dollars into fiat and then transferring to the organization, the entire conversion & transfer process would be executed automatically.
NPOs/NGOs would be required to open up an institutional account to access the application, charged for the service provided. This would create an additional revenue stream, adding value to the Steem-Bitshares ecosystem both through the increased capital invested in the network and increased liquidity in the markets (if I'm not mistaken).
This would also draw more users onto Steemit & Bitshares (the NGO management staff themselves).
And surely, much attention & media exposure could be generated through this - as it'd be a very innovative development in the world of charitable fundraising, that many NPOs would love to partake in once finding out about it.
Such an application would be tremendously valuable to the Bitshares ecosystem in particular, as there could be much further reaching potentials for additional services & proposals to serve NPOs.
For instance - rather than raising funds to be converted to fiat currency, as NPOs are normally used to dealing in, there could be extra incentive to keep the funds in crypto - and there could be another service add-on to help NPOs learn how dealing in cryptocurrencies could better benefit both the organizations AND the people/communities they serve...
Properly informing institutions of what further good could be done through embracing & adapting to the emerging blockchain socio-economic movement, thousands of NPOs could become investors in the Bitshares, as they are provided not just this valuable fundraising application, but inside access to the community - where there may be an abundance of talent, knowledge, and human resources to leverage in creating even more blockchain-based applications of value to their organizations.
What would the next step in putting this idea into action be....
I don't have the answer, besides furthering a discussion exploring the idea.
I'm still pretty much totally new to Bitshares. And I don't know coding or how the technical details of the blockchain works. So I openly-invite everyone to step in and pitch in to this conversation.
And since this idea is out here now - if anybody likes it and has the knowledge to progress it, by all means run with it.
Or if you have any insight into what it might take to pull off, feel free to comment below. All input is welcomed... :-)
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