Kimbal Musk Launches Philanthropic DAO to experiment in decentralized ecosystem.
Giving DAO announced the launch on Giving Tuesday
Kimbal Musk, Elon’s Little brother has organized a crypto collective to overhaul the philanthropy industry and address food inequality
Over the last few weeks you've heard of ConstitutionDAO, but how about Big Green DAO?
The new DAO, short-hand for decentralized autonomous organization, is hoping to disrupt the philanthropic world and create food justice, according to its website. And Ark Invest's Cathie Wood, Amanda Cassette and Don Wilson as well as dozens of other Silicon Valley and Crypto elites are all contributors.
Kimbal sits on the board of his brothers Tesla, and owns The Kitchen Restaurant, and founded Big Green—a nonprofit that has built outdoor classrooms across the United States!
With everyone from Adidas to Advil jumping into Metaverse and Web3, we are optimistic about what this DAO can do. Web 3 refers to a version of the Internet built on public blockchains and is decentralized.
This version also stands in stark contrast to Web 2, the likes of which are defined by the rise of platforms like Twitter, Facebook and Google and the centralization of huge amounts of user data and decide on incentive and revenue models.
One function of DAOs is to allow online communities of people to pool resources to work toward common goals. A blockchain code underpins the group and enforces the rules governing the DAO.
Big Green DAO is also a 501(c)(3) charitable organization where the executive committee can nix proposals that don't comply with its food-justice goals, but DAO members still get the voting power on grants distribution.
Kimbal’s latest venture has generated many donations and a lot of buzz on Crypto-Twitter! "If this doesn't work, we'll go back to the drawing board and try it a different way."
Constitution DAO had seen another rebirth even though officially the DAO has shut down after it failed to buy the copy of Constitution at Sotheby’s recently but became overnight success with all the great press they received.