Giving on the Rise, Trust at an All-time Low

We are willing to help more than ever, especially in an age where disasters and wars never felt so close to us as a result of the increase in consumption of social media. 

However, trust in charities is conversely at all time low. This decline is due to three key issues: accountability, management and fundraising methods. 67% of those questioned thought that charities spend too much of their funds on salaries and administration.

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An Opportunity for a Reboot

By using tools such as the blockchain, Ethereum and DAOs, we are able to remove the requirements of putting one's trust into a centralized, opaque organization, 

The charity DAO has a very narrow focus and is only allowed to spend its funds on charitable causes. The donors stay in full control of the funds, and vote either directly or via a nominated delegate on which projects will get funded.

The projects - first approved by a set of trusted curators - will commit themselves to a payment schedule laid out in smart contracts (e.g., monthly payment with the ability for the charity DAO to stop payments in the case of missed deliverables).

And because all of this will be executed on the public Ethereum blockchain, it will stay completely transparent.

Working Together

There are already several initiatives working in this direction (Giveth, benefactory.cc, and alice.si just to name a few). They are all important pieces of the puzzle, and we want to closely cooperate with these projects and others.

Charity DAO will be focusing on decentralized governance by developing the workflows and the smart contracts behind this charity DAO. 

This is a fully open source project and we invite everyone to join the effort: coders can already contribute at https://github.com/slockit/DAO while discussion will continue on the now revamped community slack, channel #charityDAO.
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Charity, anywhere

The internal use of cryptocurrency allow for anyone, anywhere to submit a qualified Cause and receive funds: one could even support a Cause in areas which usually do not commonly have access to aid.

Open to anyone

Anyone can submit a Proposal for a Cause - after being selected by Curators these become automatically public and Donors can opt to vote on them.

Tight financials

The Causes' Proposals take the form of immutable smart contract code representing its fundraising terms. These could include daily/weekly/monthly stipends or could even be based against KPIs.

P2p Reputation

Charity DAO tokens will have no monetary value but represent 'Points in Heaven' instead. Third parties (media companies or food outlets) could offer benefits to those who hold such tokens. 

Self-sustaining

The Charity DAO has no operating costs at its core and is bootstrapped pro-bono by individuals who share the same dream for a truly non-for-profit Charity. Once launched, it will live forever on the Blockchain

100% open source

The Charity DAO is 100% free software. Updates to the core protocols or tools and accessories could be offered by 3rd parties who would be subject to the same vetting condition as any other causes.