Elon Musk’s Brother Kimbal Launches DAO to Test “Decentralized Philanthropy”
Businessman Kimbal Musk (Elon Musk’s brother) has announced the launch of a DAO, which he describes as an experiment in “decentralized philanthropy.”
“Wow, #Web3 has been teaching me a lot. I’ve decided to run an experiment to decentralize philanthropy. This #GivingTuesday I’m launching the first Giving DAO” tweeted Musk.
“ Want to read the Lite Paper? DM me. Constructive Twitter feedback welcome ” he added.
Kimbal Musk owns Kitchen Restaurant and founded Big Green, a nonprofit organization that develops outdoor classrooms across the United States. In addition, he sits on the board of Tesla, his brother’s electric vehicle company.
Web 3.0 refers to the version of the internet developed on public blockchains and which is decentralized.
This idea is in stark contrast to Web 2.0, which is defined by the rise of platforms like Facebook and Google, as well as the centralization of massive amounts of user data.
Kimbal’s newest venture has also generated support from many Twitter accounts that are crypto-friendly.
“This sounds exciting! The true power of crypto and the blockchain to disrupt philanthropy is yet to be tapped, so it’s great to see you pioneering in this regard,” stated an account named floki inu.
The first Giving Dao? 👀👀👀
This sounds exciting!
The true power of crypto and the blockchain to disrupt philanthropy is yet to be tapped, so it's great to see you pioneering in this regards.
We eagerly look forward to this experiment!
— Floki Inu (@RealFlokiInu) November 26, 2021
This isn’t the first time that Web 3 and the crypto world have tried to join philanthropy and charity.
- Kazakhstan plans to build nuclear power plant to mine cryptocurrencies and Russia will help
- Japan intends to create its own cryptocurrency
- Hillary Clinton says China and Russia are manipulating cryptocurrencies
In October of this year, Médecins Sans Frontières (or MSF) received $3.5 million in ether for a sale of non-fungible tokens (or NFTs).
“This revolutionary crypto donation comes at a time when the critical situation of covid-19 is combined with the medical needs of people around the world,” said Jennifer Tierney, running director of MSF Australia.
In October, even a group of hackers donated proceeds from ransomware attacks to charities and non-governmental organizations (or NGOs).
The hackers (from the Darkside ransomware group) used The Giving Block (a bitcoin charity donation service) to make the donations.
The group allegedly said it did so to “make the world a better place”.
With informations: Decrypt