Steem Foundation Proposal - V2.0
Disclaimer: This is a proposal for the election and the initial steps of the foundation, which was the initial working group purpose at the start. I'm open if someone thinks that some ideas would fit from here to import them into another proposal. Would be also willing to help on the final version if another one is choosen
1. Location of the foundation
The foundation shall be based in a crypto friendly country. Also it shall have easy immigration policies so that people can travel freely and where visas shall not be a blocker. The location shall be also very friendly to assure that personal data is secured and not abused.
Country suggestions:
- Estonia
- Malta
- Gibraltar
- Singapore
- Switzerland
- Each country that has a lax policy and encourages investments in the crypto world.
(The US is not on the list as it is far from crypto friendly, has a very harsh immigration policy and has very permissive legislation in violation of personal data)
2. Foundation Board Members
Foundation Board Members are honorary members that shall not receive any monetary compensation. The board members shall only be paid a % of the profit they are generating from implementation of successful projects. (This ensures that dedicated people are in the board, not freeloaders.)
Funds of the foundation shall not go on salaries, as they are limited. By adding salaries, especially for the western world pegs the funds will be drained faster than expected. (Till today Steem Inc did not manage to get profitable, wages being one of the major cost generator.)
Board of the foundation shall be global, 2 members of each continent shall be represented. This ensures a global scale of idea exchanges and blocks monopoly. It is also ensures DECENTRALIZATION, one of the major things the Steem blockchain is based upon.
An additional member shall be represented by Steem Inc to have a simple majority quorum on voting.. Without this person there could be cases where in case of voting there could be equality on decisions and votes will have to be redone.
Members don't need to disclose their public identity on Steem. They need to register only on the foundation papers, where a passport is neede. An NDA on the identity of the others shall be signed by all the board members.
A term shall have 2 years. Each member can be reelected only once. (This prevents dictatorship)
3. Election of the Board Members
The elections shall be announced at least 2 months in advance till the voting period starts. (This ensures that candidates can run a decent campaign and the voters can make themselves an image)
Vests shall be taken as votes. Only personal vests matter, like with the witness votes. It does not matter if the vests are delegated as people can do whatever they want to do with them.
Pros:
- multiple accounts are fought
- people who invest in Steem have more to say than others
- value of Steem shall go up as power-up is encouraged
- even if a multiple account holder votes, his total vests matter not the number of accounts
Cons:
- some big accounts can monopolize the outcome of the elections
To combat the cons the structure of the board is defining. Electing two members from each continent prevents the concentration of votes in one region.
So there will be:
- 2 from Africa
- 2 from Asia
- 2 from Australia (Oceania)
- 2 from Europe
- 2 from North America
- 2 from South America
- 1 Steem Inc representative to have +50% on votes
To ensure that the distribution is right, the passport/id used for registering the Steem Foundation shall be used as delimitation.
Here the first two candidates from any of the region get their sit in the board, independent if they are lower than the candidates from another continent.
Voters can vote on all candidates, without any limitations, in the end vests are counted. This makes it easier for the vote organizer team.
Elections duration shall be at least 14 days. With this time frame, most people can vote as it covers most of the world and people can be made aware of it. The snapshot of vests at the of voting are taken into account, so that SP shifting can be nullified.
Other members of the foundation
There is a need for a lawyer and an accountant. They shall be based on where the location of the foundation is. This are the only persons who shall receive monetary compensation.
Budget of the foundation
Can't be set till the foundation is started and a clear written statement is made by Steem Inc on the blockchain on the starting funds.
There is an ongoing discussion between handing over the funds to projects or the projects receive funding in a delegation.
I'm in favor of delegation as a project can fail and then the given funds are gone. With delegation, a better budget overview and track record are made.
I would go for 80% delegation and 20% in liquid form.
Yes, there is the constant issue with the reward pool, but don't forget if you work somewhere there is a limited budget in your entity and you get a share of it, same with the reward pool. I don't mind a good project to take a bigger chunk from the reward pool.
After the first projects are self sustainable, they will contribute a % of the profit, with whom other projects are started and members are paid.
Foundation Purpose
Main focus shall be on development of new self sustainable projects, being it business, NGOs or personal individual projects on the Steem blockchain.
The foundation shall act as an accelerator for this projects.
A project shall be presented to the Foundation board, where the board shall analyse it. If it passes the board the project will be given full support in funds and knowledge so that it gets to the target of self sustainability as soon as possible.
The project owner needs to present a thorough business plan, with according time plane and well defined steps. This way, funds and support can be given to each needed stage and not all the funds from the start.
All projects shall get support and funding gradual, based on achieved steps.
As Steem is a global chain all regions can apply for the acceleration programs.
A report of the foundation shall be presented every two weeks where Steemians can ask questions. In the report, the status of the projects are detailed, what the foundation has done and all that the board members think it is of interest.
Closure
This is only a small summary of the foundation structure and purpose. Every single idea from here can be developed and used on the creation of the foundation. It must not be taken as a whole.
Thank you