Upliftnation.io: Towards Infinite Growth and Beyond
Updated: Nov 24, 2019
UpliftNation’s mission is to build a large charitable DAO (Decentralized Autonomous Organization) on top of the EOS Blockchain. The DAO’s focus will be raising resources to encourage and facilitate self-reliance and sustainability in impoverished communities around the world. Our end goal is simple yet ambitious: The End Of Suffering through funding non-profits that can implement sustainable tools and resources, enabling communities to become healthier and more self-reliant.
Upliftnation as a foun-DAO-tion
A decentralized autonomous organization (DAO) is an organization represented by rules encoded as a computer program that is transparent, controlled by elected community members and not influenced by a central government. A DAO’s financial transaction records and program rules are open-source and maintained on the EOS blockchain.
To simplify, a DAO is an organization with no central authority or single owner. In the UpliftNation (UN) model, we will have 21 community elected custodians that seek to find and implement the popular initiatives the community desires. UN Custodians can be voted in at any time and remain in their elected position by the value and positive impact they bring to the UN community.
The DAO runs and manages a stock (token) aggregator. The term “stock” has initially been used so you may understand more clearly how this mechanism and eco-system work in relation to the current legacy financial system. From here on out we will use the word “token” instead of “stock”.
Similar to how businesses build websites and applications on top of the internet, businesses can now build on top of blockchains. Blockchain technology* is seen by many as the evolution of the internet, internet 2.0 so to speak. In very simple terms, A blockchain is a cryptographically secure, digitally distributed public ledger that verifies and contains all the networks transactions and actions. A blockchain ensures the integrity of a cryptocurrency (or any transaction / exchange of data) by encrypting, validating, and permanently recording transactions. A blockchain is similar to a bank’s ledger, but is open and accessible to everyone and also immutable. This means that the transactions and information logged on the chain are permanent and uncensorable.
In the EOSIO blockchain ecosystem, businesses are building decentralized applications that run on top of it and enjoy the benefits of security, transparency, permanent settlement of transactions, and with EOS, near instant settlement of 1000s of transactions per second with the ability to scale indefinitely. EOSIO is the primary blockchain technology that UpliftNation will be utilizing.
Can you imagine donating to a charity and all their transactions are transparent and audit-able by anyone? No more crossing fingers and hoping the money being donated is being utilized for what was promised. You will now be able to track in real time exactly what the charity is doing with those funds and when. We believe this has the potential to completely revolutionize the non-profit space.
The first-step for UN is to decentralize our bank account (EOS wallet). Again, the legacy term everyone is familiar with, “Bank account”, has been used to represent the new paradigm in digital value storage. Imagine a “bank account” that is completely transparent and open to all who wish to audit the account. Now imagine this bank account not having any one owner but a community of 21 elected custodian members and 15 out of these 21 need to agree on a proposal for the proposal to be pushed live and funds distributed. As an example, the first non-profit we are working with is Utah based HaitianRoots. HatianRoots could come to the UN community to ask for help with a much needed repair at an Orphanage or School in Haiti. The community would voice their desire to support this initiative (or not) and the elected custodians would then vote to enact this proposal. If approved, the funds are then sent to HaitianRoots EOS account and instantly settled.
We will have 21 custodians with each custodian bringing to the table 1 non-profit to work with. The custodian will do the due-diligence for the non-profit and once it has been green lighted by the community, that custodian will help the non-profit setup an EOS account and give them the needed tools to become savvy within the EOS ecosystem. UN will be aggregating tokens and distributing tokens to the non-profits who will have the knowledge and ability to turn tokens into the resources they need to move their projects forward. UN will also be an education/resource hub to help “legacy” non-profits transition over into the EOS digital realm.
The token aggregator:
We want to create a win, win, win and will not rapidly sell vast amount of any token to influence the price in any meaningful way. Each token will need to be studied individually to know how to manage it most successfully. In a sense, this aspect of UN is similar to a Hedge fund dealing with tokens. The big win will be to aggregate many utility tokens that earn rewards, so the tokens remain staked perpetually and only the “rewards” are used to fund projects and initiatives.
UN’s ultimate goal is to become a “perpetual reward producing machine for good”, and we think the plan / system will not only accomplish this goal, but will give other communities around the world the ability to do the same.