Musk's Brother Launches NEW Crypto Project!

hey everyone meet kevin here kimball

musk is the brother of elon musk and in

2011 he founded an organization called

big green and the purpose of this

organization was to encourage

individuals to

help community members and children get

exposed to gardening and the benefits of

growing our own food whether they're

psychological therapeutic or just for

the benefit of education and learning

you can learn more about big green by

going to big green dot org but this

video isn't so much about what this

organization is about it's about the

dao that kimball musk is now wanting to

use

to potentially lead to

decentralized finance and blockchain

making decisions in terms of who gets

funding

from the big green nonprofit

i did receive a message from kimball

musk with a link to his white paper on

or i should say light paper

uh on exactly uh what uh what what this

dow is how it's going to operate how

decentralized it actually will be and i

spent a few hours going through it i

don't fully understand everything so it

is entirely possible that i may make a

mistake and i don't like to make

mistakes

but i'm going to do my absolute best to

go through this and if you're familiar

with anything in here please feel free

to reach out and correct me in the

comments down below but let's go ahead

and work on this together right now

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code enjoy your black friday let's get

into this dow document though here so

take a look at this

so big green is a 501c3

non-profit this the reason i mention

this is this becomes extremely important

because there are many references

throughout this light paper that

essentially say it is very important for

this company to be referr considered a

501 c 3 so that way individuals who make

donations whether in the future through

cryptocurrency or with fiat

can receive a tax donation for

contributing to this organization

i think unfortunately this is one of the

things that is going to end up keeping

this dow

a

more of a cow can we say that or is that

insulting more of a centralized

autonomous organization but there are

some really cool things that i think are

going to come out of the first year that

this dow is in operation and so i'm

going to talk a little bit about how

this works so first they're calling this

an experiment and what they want to do

is democratize and decentralize

philanthropy which i

the last thing i want to hear more about

is people democratizing stuff after

robin hood i'm a little over that one

but that's okay i don't blame them for

saying that

and what they're going to do is they're

going to use erc 20 governance tokens to

try to essentially give the community

the ability to decide where money goes

now here they talk about what a dow is

and how there is no central

decision-making authority

i have a little bit of beef with this

though based on how

things are structured in this down we're

probably going to be a lot more

centralized here but for experimentation

purposes this could be the new frontier

for how nonprofits operate because

remember if non-profit funding is

distributed through blockchain now all

of a sudden you have complete

transparency of what's actually going on

at non-profits see one of the

disasters of non-profits is that a lot

of people have this failure of trust

that hey if i donate to a certain

non-profit what if 90 is just going to

pay the salaries and executives of these

organizations and only you know 10 cents

out of every dollar i donate is actually

going to the charitable cause right that

would be very frustrating and that is

one of the things that

people see blockchain as a potential

solution for but how cool would it be to

actually have

a decentralized organization

be able to vote

on

which uh

company or organ other organization

wants funding and the community can

ultimately vote and decide well we want

to give money to that group or that

group or that group you know we resonate

with their message versus theirs kind of

interesting like i think the concept and

the experiment will be very very cool

let's go through some of the details of

how as to how it works we're not going

to go through absolutely everything in

here but i'm going to give you the

really big highlights so first

there's going to be well there are going

to be two pieces of this so piece number

one is the dao committee

and then piece number two is the dao

community so here's how this works

anytime somebody donates money to uh big

green and the dow the community is going

to get that person or organization

that's donating is going to get one

garden token so they're going to get one

garden token and that will allow them to

vote

in community votes but what i thought

was interesting is the way this this

light paper actually is is listed is

that the executives over at the dow

committee

also get one garden token

and so most of the decisions in terms of

where money ends up going from this

non-profit are made via a two-thirds

vote so let's say you have a community

of

garden tokens because 500 people or

organizations donated money and then 500

garden tokens were given to the

community and 500 garden tokens were

given to the committee

well now you need that entire pie to get

to 67

and then they can decide on which

organization to give money to

the the beef that i have here is that

the dow committee

has two opportunities to have massive

influence on this the dow committee

which

is presumably going to be a group of

five to six individuals

or organizations that are picked or

appointed by a kimball musk or or maybe

other people around him

these folks will already have fifty

percent of the community vote remember

they're getting one for one community

votes for every donation so 500

donations 500 organizations donate each

organization or donor gets one token the

committee also gets one token

now 500 times two means you have a

thousand tokens if the committee has

half of those and you need 670 votes to

get to a decision making authority well

the committee already has 50 percent

sway

like i'm sorry no they have more than

that you divide you divide 500 divided

by

670 so assuming the committee votes

together the committee has already

reached let's see 500 divided by 670

needed votes the committee has already

reached

74.6

of what they need to get to to have

control of where the money ends up going

so

that was one of the first things i

noticed that made me scratch my head a

little bit like okay we got a little bit

of work to do on the decentralization

portion but i think it's very

interesting because

what one of the things they do mention

is that

every donor no matter how much they

donate will only get

one garden token and they want to make

sure that individuals can't transfer

these tokens so that way there's less of

a chance of some bad actor taking

advantage of collecting a bunch of coins

and then misdirecting the non-profit

funding right that's that's obviously

not good we talked a little bit about

their goals with with uh gardening in

that earlier

here's some more details here about a

two-third

majority vote of the dow community and

two-thirds majority ratification by the

dao committee to uh change principles or

governance the dow committee here has a

lot of power that's why i think this was

a little heavily centralized but again

it's an experiment of using dow

technology so i respect that and i think

if you're going to get involved in this

dow you really just have to trust kimble

musk and and the committees that are the

committee members that are chosen uh now

there are ways for the community to kind

of like

vote or or issue a vote of no confidence

against individuals who are in the

committee but votes of no confidence

endow i don't know if they're

necessarily going to directly turn into

okay kimball's going to pick somebody

else in that spot right and there are

many people to pick from but anyway take

a look at some of the neat things here

so they're trying to be as transparent

as possible they're saying look we're

going to start with a million dollars

and we're going to give out 800 000 in

grants we're going to use 200 000 for

coming up with all of the documents the

paperwork and the infrastructure that we

need

for our dow and the goal is once they

have an architecture that they can use

that they can take more donations and

spread more money out right

right here is where you'll notice the

dow community formation each donor that

donates funds and each organization that

receives funds receives one garden

governance token now like again like if

one

recipient gets one token that's

virtually relatively meaningless i feel

like they really only would use that

token to end up burning as a way of

trying to apply for more funding in the

future so really it's the donors who are

getting the voting right

plus

right here the dow committee members

also receive one garden token right then

of course here's where you could see

that regardless of the grant or donation

size these tokens will also have strict

parameters to prevent token holders from

transferring ownership they're really

trying to prevent somebody from taking

over the the non-profit right and this

makes a lot of sense and they've got a

lot of of controls in here to to make

sure of that uh now you'll also notice

that they're going to end up using the

snapshot platform for voting this is

very very common for dows

you link your wallet and then you go to

vote voting is very very important if

you're part of this they've got a few

different methods for voting as well

rank choice is is likely going to be the

most popular method that they end up

using

for

voting and one of the benefits i'm going

to jump to it one of the benefits of

ranked choice voting over here is that

it really prevents a mutual exclusivity

so i'm going to give you a quick little

example of that

let's say you hate donald trump and and

this is not to be political at all let's

just say you whatever you want what no

matter what you do not want donald trump

as president right but you kind of would

prefer a yang or romney as president

well with the voting system that we have

in america which is you get one vote and

if your person doesn't win you lose your

vote you're kind of disincentivized from

voting for yang or romney the reason is

if you spend your vote on them and then

biden gets less votes then it's

potentially more likely that trump wins

right

so

ranked choice voting says that hey maybe

you have three choices just rank your

top three choices and you might go in

here and go fine one two three or you

might say hey well i actually want one

of these moderates or maybe not

necessarily moderates but somebody in

the middle or maybe not even in the

middle whatever in in this picture

middle trying to be politically neutral

okay it's so hard to do these days it's

crazy

but anyway let's say you're like well i

kind of really want romney but i'd be

okay with yang and then i'll take biden

over trump for example right if you do

that kind of example now

if romney gets kicked out your vote

automatically goes to yang if yang

doesn't make it your vote automatically

goes fine it's not like you lost your

vote voting on on a less popular idea

and they're planning on using this for

voting for

who's going to get funding in the

charity which i actually think is really

cool

in fact take a look at this what they

want to do is they want to streamline

how people request funding you start

with a one to two sentence overview of

your proposal on twitter and you attach

a picture of like a 300 word description

you explain your motivations and

whatever whatever uh in a budget and

then they set up a voting period which

voting is is pretty stringent uh and

this is very very common for the

snapshot platform they do make voting

pretty intensive you could see how

voting would work here now this is just

an example of voting they use the uni

swap system just to give you an example

where on uni swap for example before a

proposal is immelmann implemented or

some rules change or for example you

would as a charity give money away you'd

have a four day period to do your

initial voting four days to do a

consensus voting and then a full seven

days thereafter to do your finalized

voting these are just examples exhibited

in the back here

this gives you a little bit of an

overview of how they want to break this

down

one thing that i did think was

interesting here is the dow committee

via two-thirds vote of the committee can

actually override any decision or veto

any decision of the community so again

really gives a lot of power to the

the committee here right now uh over

here individuals in the community can

vote uh or issue a vote of no confidence

of a dow committee member but then of

course

over here you would end up having

appointments or nominations maybe i

should say nominations on appointments

you'd have the dao committee nominating

new members and then the community would

would vote but then again uh

ultimately they'd be voting on somebody

that the committee selected right so

a lot of this still very very

centralized i see this as a lot more of

an experiment than something that's

actually decentralized non-profit but i

love it like i think this is a very very

cool experiment and i'm all for it

because it means people are going to be

submitting proposals for donations

related to big green style projects and

we're really going to use blockchain

style technology to

evaluate

deals

decentralize the evaluation of those

deals try to find out where the

popularity is and i think as long as the

committee is is in it for the right

reasons which i believe they are with

kimball musk then uh then they can

really let the community

take the first shot at votes and

deciding even though they are also going

to have a control or have control of a

lot of the garden tokens now it does say

that your gov tokens will be burned as a

community member which the only gov

token i really found was the governance

token known as garden and so it seems

like that'll be burned if you end up

missing a couple votes oh yep actually

right here organizations must use their

garden token to vote in each quarterly

proposed cycle in the event an

organization does not vote in two

consecutive cycles which recycles a

quarter their token will be disempowered

or burned

this is really a mechanism to make sure

that

it's an easy way for people to opt out

of the process

but it also makes sure that they have

the proper percentage of active voters

because if for example you had 50 of

people that just weren't active how are

you ever going to get to 67 you'd have

to basically burn these people out uh so

that way there's there's still some

opportunity to actually

make progress here so i i mean i look

i i i hope i understood this as well as

i think i do i know there are probably

some holes in my explanation here i

don't profess to be perfect

at understanding

the dow that kimball musk here is

creating i do recognize that a this is

an experiment b i think it's a good

cause c i think it's got a great leader

a d i think this is a great way of

evaluating if

community members are actually

interested in donating to projects and

then basically having their funding or

having a say in where their funding goes

it's a great test for all of that

together now also worth noting that the

donation criteria is going to be pretty

strict when it first starts now take a

look at this you have donation tiers

first they're going to start with 1

million donations then they'll go down

to 100 000 donations and they're really

trying to make this difficult up front

so that way it's very or potentially

impossible for a bad actor to take

control of too many tokens uh and and

then uh potentially misallocate funding

so uh you can see a little bit more

broken down here all donors are required

to go through uh kyc which is know your

customer so that's social security

number date of birth uh name address you

know all that good stuff

uh

so there are a lot of aspects of this

being a

tax uh deduction and being a charity

that kind of take away a lot of the d uh

endow especially since

you can't let it basically all be open

to the community but it's a good first

step and i think this really opens the

door to good news for decentralized

finance in non-profit fundraising i

think this is really cool i support this

project i'm behind it uh let me know

what you think down below i think it's

really cool i'd like to hear from you

i'll check the comments thanks so much

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