Rootproject In the East Village, New York, two tech entrepreneurs just explained cryptocurrencies and ICOs to a friend. “It’s a shame you couldn’t have a coin for people in extreme poverty,” said the friend, a psychologist who has worked with homeless people since her PhD and hospital residency. “They are so much more likely to get robbed at gun or knifepoint that a cryptowallet could make their life a lot safer. There are already some very successful programs to give them good phones that requirefingerprint access.” “Wait a second!” said one of the entrepreneurs, a political economist and student of currencies, “You actually could design a cryptocurrency that would be useful for them and make initial investors a ton of money.
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In fact, if you designed it correctly, it would be incredibly attractive to large companies and institutions: Deals could be structured where they get a headline saying their company just gave a million dollars to a nonprofit, but a lot of that would really be a purchase of a the cryptocurrency, which they expect to appreciate, the other half a donation to a particular project that’s tax deductible. In effect, they could make large, publicity-grabbing donations at a fraction of the cost or even a profit.
Looming Regulatory Threat
Everyone in the cryptocurrency community knows that at some point the US government will step in, potentially with draconian regulatory action. This particular ICO is protected against that: It is a notfor-profit, non-equity crowdfunding project; no equity or control is given away, no equity-like product is sold.
The RootProject model is generalizable across many market types. A formal model will be proposed by Drs. Judge and Hooper in several months. A brief conceptual presentation is made here. Most readers may skip this section, and without loss of continuity go-ahead to the “How It Works” section. Cryptocurrencies are powerful tools to align the goals of interest groups. Because they can be arbitrarily designed, it is theoretically possible to construct an economic asset that restructures the political coalitional dynamics of political economic conflict on a given scale – urban, state or national. Because a successful ICO can generate capital sufficient for the construction of sophisticated institutions, that theoretical possibility is practically achievable.
RootProject is a dual-facing app. The first face is a crowdfunding platform for local projects. A user will download the app or go to the website to start a new project. Mobile-first design allows her to propose a new project – say, a wall garden on her street-facing building – while she’s walking home. A budget, location, before and after images and a short description will be entered.
Albuquerque, NM introduced a now-nationally-watched program that is simple and powerful. A nonprofit employee drives a van around each morning, offering a day’s work to panhandlers. By any metric, it has been a spectacular success. In conjunction with another city program, Albuquerque has reduced unsheltered homeless by 80% and chronic homelessness by 40%; “by HUD’s definition, [Albuquerque has] functionally ended veteran homelessness.
Upon the day’s work being completed, “after” photos are taken. If the project is completed, the project initiator is invited to sign off along with the foreman that work has been completed.
Dr. Nicholas Adams Judge COFOUNDER
Anton Kraminkin DEVELOPMENT DIRECTOR
Mark Streeter HEAD OF INVESTOR OUTREACH
David Richey DIRECTOR OF COMMUNICATIONS
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