Steem Foundation - A Decentralized Steem Incubator for the Future - Proposal V2.0
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
Just to clarify: the foundation receives a donation from Steemit Inc. then invests that money into projects which are bound to pay back revenue share and part of that revenue share will go towards paying bonuses for the board?
Does that mean this foundation can only invest in profit generating ventures? Thanks.
Steem Inc can monopolize and pick their favourite handles.
I understand you are concerned about putting the foundation in the US. And yes it wouldn't make sense to register there, but what you have written in brackets comes off as somewhat offensive and is pointless. Your personal views of the American immigration policy which you describe as 'very harsh' should be kept out of this proposal.
Also, I am wondering how 2 per continent is fair, Oceania has 40 million people or 1 rep per 20million people. Asia has 4 billion people or 1 rep per 2 billion people. Are Ocianians 100 X more important than Asians?
I'm only underlining a fact that 80% of the world needs a visa which is very hard to obtain. I travelled to the US a couple of times, being it for study or work and every time it was a hustle. This is not going into politics.
I put two/continent as this is one way to split things. It could be taken into population where for example the North American part will get 7% of the sits in the foundation. Here is a limitation needed as to much concentration in one part of the world will shift the focus to that part.
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Thank you for your reply. I was trying to figure out the purpose for the anti immigration statement and it helps clear things up.
I am still curious about reason for board member to sign a NDA and hide identities from the public. This seems like something that will cause more probelms than it will solve.
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Agreed I am not an American, but Anti-Americanism has no place on the blockchain. I prefer a foundation in a country that has advanced security and anti-money laundering laws. Operating in a tax-haven does not help with the reputation of Steem. We want to attract positive legislation not avoid it. I also think the board elections should be based partially on the amount of SP in one's account. Discrimination by geography is nonsense in the information age.
"advanced security and anti-money laundering laws" - TOTAL BS
Surrender your soul to the Big Pharma companies that create these laws so they will be the fattest drug peddlers on the block, around the world...
This is way for of anti-americanism. Please read the reason why. The US has very lax laws regarding the personal data. Also the immigration policy is harsh and foundation elected members can have problems coming to sign the foundation papers.
Being open to cryptos does not mean tax evasion. The US legislation is not positive towards it. The countries mentioned and some others are fostering the crypto technology not punishing it. Don't forget that the US has it's own tax-heavens as for example Delaware.
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Not sure if I want people who can't qualify for a US visa representing a foundation. USA is the world's largest economy and silicone valley dominates IT. If someone cannot go there for whatever reason, they probably should not be a director.
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Marijuana is legal in Canada now. If you admit to having visited a government owned marijuana outlet to a US border agent then it could result in you being denied entry to the US. Should you legally work at such an establishment in Canada and the border agent is made aware of ir then it would result in your definite rejection from those Unitied States of America. My feeling is fuck them!
Hell, I live in the US and am a resident of a state with legal marijuana. So, if I managed to visit out of the country, and admitted to a border agent that I complied with state law in my state regarding marijuana, I could be expelled despite being a natural born citizen.
tl;dr Natural citizens of the US might not be able to qualify to re-enter the US due to marijuana laws.
That is hard for me to believe that a natural born citizen of the US would, first, be subject to the same questioning on re-entry and, second, be refused if such details were confirmed. It is my understanding that natural born citizens cannot be refused departure and re-entry to their country under the UN charter; though there may be countries that do not respect the UN Charter it is unlikely that the US is one.
Due to my personal experience in corrupt US courts, I can verify that repression of dissent is becoming a primary focus of centralized powers. The censorship, banning, and deletion of dissidents on social media is just the beginning of actual oppression of Americans. This play is only in the opening act. History reveals numerous examples of progression from censorship to RWDS and from relatively free and sovereign societies to states that are so captive to parasitic profiteers that they flirt with complete collapse.
War profiteers aren't patriots or nationalists. They profit personally from the destruction, and that's all that matters to them. Until and unless marijuana laws are reformed nationally, they will be used increasingly to suppress dissidents, and AG Sessions clearly revealed his intention to do exactly that before he was replaced with William Barr - who could scarcely be considered an advocate of freedom and sovereignty in comparison.
All that being said, my remark was that it was possible, not that it was currently ongoing. I just expect it, failing reform of national prohibition. The TSA, DHS, and surveillance state is not being grown as a means of increasing the ability of Americans to freely travel and associate, but to effect the opposite.
To listen to the audio version of this article click on the play image.
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Thank you very much for putting it on audio.
I am very exited about that. I want to get foundation support , can give me some ides!
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You need a cleaner version of the STEEM logo, as it looks quite messy on night-mode.
Interesting. I'm all about giving more power to who invests more but to me it feels a little bit disenfranchising and mirrors the society that we're all trying to change. It just seems like another situation where the rich control everything and those with ideas but little reach can't make a change(by way of voting I mean).
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I like the idea and the time and effort you put into it. Will do my vote for this idea!