Viewpoint: NFT puts humanity before interests

Blockchain provides an opportunity to reorient the global economic system from profit-oriented to value-oriented.

Mankind is facing more problems than climate change. The world is facing some of the greatest challenges of our time: world hunger, rising inequality and economic instability. Many people believe that the root cause of all the problems facing human beings is the expansion of elite political power as the polarization of income and wealth distribution becomes more and more serious.

From the beginning, we have used technology to calculate or exchange value. Mankind created the concept of money as a reward for contributions to society; however, as we now know, money is corrupt. Today, under the mutual promotion of blockchain, decentralized autonomous organization (DAO) and non-homogeneous tokens (NFT), we have seen a major turning point in giving priority to human capital rather than financial capital. Today, we have the opportunity to have an impact on a firm stand that benefits mankind. Using NFT, we can start to prioritize people themselves rather than profits.

Thoroughly transparent

Many people do not trust modern social influence organizations-this is for good reason. Over the years, investigators have revealed that several charitable organizations are actually trying to make huge profits and run counter to the humanitarian creed. These organizations rely on government subsidies to weaponize an unspecified ledger system to hide their profits and maintain a false appearance of altruism. Now, many people are getting smarter and starting to use blockchain games.

With the help of blockchain technology, donors can ask organizations to increase transparency. Things like NFT auctions related to charities can show donors a verifiable proof of impact. Blockchain radically improves transparency, increases donor trust, and enables social influence organizations to focus on important things. As the art world continues to support their favored charities, society can use blockchain and NFT as new means to track where and why money is spent.

Encourage the transformation of human resources to more than financial resources

Another sign of being more loyal to social ethics is that blockchain challenges the economic foundation of human behavior and transforms humans from more individualism to collectivism. In the recently held in Paris on Ethernet Square Union Congress, Ethernet Square co-founder and lead developer Vitalik Buterin when it comes to government’s failure to fund public facilities, because they respect the choice of beneficiary groups “too rigid” or “too exclusive.”

Blockchain technology represents an important opportunity to change, re-adjust and appropriately motivate our global economic system to make it value-driven rather than profit-driven. Human values ​​such as happiness, stability and resilience are seen as measuring success and The key indicator price for everyone’s happiness is no longer the stock price. It is only a matter of time before we put human and social capital above financial capital. This will create a new form of capital, not at the expense of another form.

The number of DAOs that fund social undertakings is increasing

DAO gives society more voice, control and power, and they establish their own rules with independent decision-making, which are all encoded on the blockchain. More and more blockchain projects focus on funding social undertakings and public goods.

NFT and DAO make it easier and more transparent to fund social undertakings and do public welfare. An example worthy of reference is PleasrDAO, which acquired the NFT of Edward Snowden, a US National Security Agency whistleblower, for $5.4 million and donated 100% of the proceeds to the Freedom of the Press Foundation. DAO can continue to make it easier for people and organizations with resources and motivation to make changes.

Increase the participation of collective interests through NFT

Another factor we found for success is the legal participation described by Vitalik Buterin in his blog post “The Most Important Scarce Resource Is Legal.” Buterin mused: “If people are able to participate in choosing the outcome, they are more likely to think it is legal.”

He added: “If the concept of NFT legitimacy can be developed in a good direction, then there is an opportunity to establish solid funding channels for artists, charities and others.”

Recent use cases of the NFT ecosystem have shown that the participation of collective interests has increased. Tim Berners-Lee sold the NFT of the World Wide Web source code for $5.4 million and plans to donate all the proceeds to charity. Another example is the one-month Open Earth campaign, which is a climate accounting technology project run from Yale University on Earth Day.

Possibility of traceable public welfare funds

For many charities and non-governmental organizations, early fundraising through donations and funding does not provide a sufficiently stable inflow of funds. Retrospective public welfare funds will fundamentally change the funding model of non-profit organizations. By tracing funds, individuals, groups or DAOs set a price for solving future problems, which creates incentives for entrepreneurs, organizations, and non-profit organizations to obtain rewards for building public goods such as Ethereum and other welfare products.

Although Vitalik Buterin believes in traceable funds, the Ethereum Alliance chose to continue to advance the Ethereum Improvement Proposal No. 1559, which will spend ether ( ETH ) (basic cost) instead of using this flow of funds to continue to fund those for the creation and maintenance of public goods And the organizations and individuals that make contributions.

For some people, spending money is easier than coordinating and funding public goods. As a recognized humanist, this makes me very disappointed. This fundamental shift will become a huge support for R&D and innovation, thereby maximizing social benefits and enabling more transparent non-profit organizations to flourish (not just to exist). Developments in this field will bring incredible progress to Ethereum and the wider society.

Here to contribute to humanity to coordinate and reward those who create lasting impact. NFT, DAO, and traceable public welfare funds make it easier for humans to prioritize. We are at a milestone of faithful social ethics. In the long run, public products that can eliminate world hunger and advocate human sovereignty and economic empowerment will emerge.


Posted by:CoinYuppie,Reprinted with attribution to:
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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