Deep Dive Into Ukraine DAO — A Model for Future Nonprofits

Blockchains and smart contracts offer new ways to organize for causes

UkraineDAO is a decentralized software powered organization that came into being shortly after Russia attacked Ukraine. Their purpose is to raise funds for Ukrainians using web3 tech. In 5 days UkraineDAO raised $7M in crypto donations from 3000+ people on the internet. In fact Ukraine DAO is an organization that exists only on the internet, they have no office, no legal status, no bank accounts, no board of directors or any other resemblance of a typical nonprofit organization. Using the power of Ethereum blockchain, web3 technologies and social media platforms UkraineDAO was able to quickly come into existence, mobilize, collect and deploy funds in a highly transparent way.

UkraineDAO presents a model and a case study on how nonprofits of tomorrow will operate. For a deep dive into UkraineDAO — the origin, activity and the tech infrastructure that powers them read here

Model for Future Nonprofits

UkraineDAO presents a model for nonprofits to leverage in the near future. The organization didn’t waste time and effort doing paperwork instead were quickly able to get up and running collecting and deploying donations. In a matter of a week USD 7 Million was available for the cause.

This is impossible using existing models and could only be executed using a decentralized and permissionless blockchain like Ethereum along with the magic of smart contracts.

I think we just proved that blockchain is a really great organizational tool. — Nadya Tolokonnikova, Pussy Riot’s member and co-founder UkraineDAO

In the near future it will be far more common for folks to organize for a cause using blockchains and starting autonomous organizations that leverages smart contracts to raise and dispense funds towards a problem that they have a localized understanding of and can credibly communicate.

Credibility and transparency are worth their weight in gold in a crypto first world driven by young people with the power to donate in milliseconds from anywhere on the globe.

Decentralized Autonomous Organizations are a model for the world to witness how people with a common purpose can join and work together quickly to distribute funds to present humanitarian causes. — Trippy of Trippy Labs and Co-founder UkraineDAO

For complete story on UkraineDAO — — the origin, activity and the tech infrastructure that powers them read here.

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