๐ EOS Angels ~ Decentralized Venture Capital
Venture Capital for EOS DApps
Last week at the EOS.IO Meetup in Seoul, South Korea Block.One announced it will partner with private venture capital firms to provide funding to developer teams creating decentralized applications using the EOS.IO software. This will give developers a clear path to the required resources needed to focus on product development, and not have to worry about fundraising. In return for this funding the projects would airdrop (sharedrop) the initial native tokens on current holders of EOS Tokens.
That was pretty exciting news, it's a win-win for everyone.
However, when you take a moment to think it over there are a few things that could be improved. Like who gets to decide which DApps are worthy of funding and get approved? In this traditional form of venture capital distribution a small group of corporate investors are calling the shots based on a perceived value for a potential return on investment in the form of high price increases on the tokens they receive in the drop. And though that is also necessary in a free market, it also sounds like a very centralizing way of thinking which at its core is in direct conflict which the spirit of decentralized blockchain applications. Of course thats only if you have no other, more decentralized ways of supporting traditional vcs as well as the grass roots.
What If...
the power of deciding who earns funding for their applications or projects was put into the hands of the community, in a Mutual Aid Society fashion, to balance out the power in the hands of corporate entities with their own agendas?
What If...
the holders of EOS and "other" tokens in the community still received initial token drops from the DApps funded by this truly community-based funding process?
What If...
a truly Decentralized Venture Capital process was made available as an option for developers?
What If...
I told you it's in the works and coming soon?
STAY TUNED! We will be giving more details in the coming weeks.
๐ก Dan Larimer - Mutual Aid Society DAC
Gain insight into @Dan's visions for what Mutual Aid Society DACs can accomplish as he gives and example for the Insurance Industry in this 20 minute video.
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EOS AND STEEEEM TO MOOOOOON!
Hey you dirty self upvoter ;) Kidding, I do it too but I don't have a $3.20 worth of upvote :P
This sounds promising Fuzzy :)
The method of determining who gets some of the VC funding that is based on EOS stake makes a lot of sense!
Especially considering that a successful launch can require 15% approval by all stakeholders.
Building a platform where developers can build on top of your crypto coin, in this case EOS, is one of the best ways to create network effects. It's what Apple did when they launched the App Store, or even what Uber's model is based on. All Uber does is connect a driver (developer/service) to a rider (consumer/user). It's the definition of a platform.
Allowing developers to build on top of EOS is going to be difficult to execute, but if it's executed correctly it can be very powerful. Let me remind you of some of the biggest web's on the interent. Notice how many are platforms? They all are.
10. Salesforce
9. Ant Financial
8. Baidu
7. Uber
6. Priceline
5. Alibaba
4. Tencent
3. Facebook
2. Amazon
1. Google/Alphabet
This was based in 2016, so the order might have switched around a bit.
The goal of this DAC is actually to give eos holders the opportunity to distribute tokens in the DAC to developers who build on and sharedrop on eos.
Eventually it could move to eos as well :)
I see, that makes a ton of sense. I appreciate the clarification โค๏ธ
thankyou for giving lot of knowledge for us newbie her in steemit @techchat
Absolutely and thank you for reading ๐
First vote on this site and this is an awesome idea. I too think the centralized thinking is the wrong way to do this. We need the funding to be decentralized... AWESOME!
These are all awesome news! Can't wait to see what is the future of EOS, our future! Thanks a lot for sharing.
Namaste :)
Yes dear, crytpocurrecy is experiencing a forward leap everyday. This is worth celebrating.
From all indications, EOS has a very promising future. It will be massive and explosive.
good article
thank you for sharing
save image as... :D
I usually despise gifs but this one is great, stealing 2!
What if... love it. Love to dream big and hope some of the coin drops take place. Crazy to think of the spin offs.
this is a massive success and improvement for the crypto-world