In to the Unknown. Could Web3 be paving the way for real sustainable and revolutionary change in the Charity Sector?

In to the Unknown. Could Web3 be paving the way for real sustainable and revolutionary change in the Charity Sector?

Since the start of February I’ve been leading a double life.?People who follow me on Twitter may have noticed some of my posts have been a little different recently.??

I’ve entered a new world which is collaborative, inclusive, fun, creative, accessible, super welcoming, uplifting and very fast moving.?I have learnt more in the last few weeks than in the previous couple of years and I continue to learn new things every single day.?A month in this new world feels like a year IRL.?I’ve met new friends, been gifted artwork, played games, learnt a new language, shared perspectives, signed up to new platforms and expanded my mind.?What is this new world??It’s Web3 my friends.??

Disclaimer: I want to make it clear, I am NOT a technical minded person.?I’m not a computer whizz.?I’m not a gamer.?I outsourced my website design and all the maintenance to my sister.?I’ve previously shied away from anything techy or computery or internety.?Of course I use the internet, ALL the time.?Don’t we all??Which is why the emergence of Web3 is so exciting.?Let’s dig in.?

What is Web3??

Web 3 or Web 3.0 is the latest iteration of the internet.?But first lets go back… way back in the 90s when the World Wide Web was created, for those old enough to remember, it was read only access, like a massive wordy encyclopedia of information.?Not that different from those microfiches you used to look up information in libraries or teletext on the telly!?So that was Web 1.0.?Then over the years it became more interactive and then when Web 2.0 came along – around the mid 2000’s it became all about the user as a creator, My Space, Flickr, Facebook, Youtube, Twitter, Linkedin etc.?Where you as the user could create profiles, upload information and pictures and create stuff to be viewed, interacted with, bought and sold, by other people.?It was social, simple and interactive.?A lot of the biggest platforms in the world, the Googles, Facebooks, YouTubes, have got so big because they are simple and many of them are “free” to use.?They allow people of all ages to be creators and share content globally.?However their power and autonomy is scary and I don’t need to go into the data breaches, the selling of data, the targeted marketing and unsavoury practices that have been going on.?What may seem “free” to use, is actually making a few enormously powerful, scarily influential and massive tech companies very?rich and very dangerous.?You can learn more about all this via?The Social Dilemma?(the Netflix doc) if you haven’t seen it.?Be prepared to be very scared.?

So now onto Web 3 (or 3.0)

Web 3.0 is the next iteration of the internet.?It’s aim is to bring a fairer internet by enabling all individuals (not just those working in the big tech companies) to have true power from owning and controlling who profits from one’s time and information or data.??

Web 3 is decentralised – meaning it is not owned by any company or organisation.?It will enable individuals to connect to an internet where they can own and be properly compensated for their time and data, overtaking (in time) the extractive and exploitative internet that Web 2 has become.?Whereas the giant tech firms own and profit from Web 2, Web 3 will sit on the blockchain therefore all data would be publicly available, any transaction could be tracked and in theory could eliminate a single CEO, a group of elite stakeholders or family holding all the power.??

This?short video?on YouTube helps define Web 3.0 in a much clearer way than I can.??

Now it’s important to realise that Web3 isn’t the thing, but it enables the thing.?Just as we don’t all exclaim as we turn on our computers each day “Ooh I can’t wait to interact with the internet!”?In time Web3 won’t even be defined, it will just be the internet.?And this isn’t all going to happen overnight in one go, it will be a gradual development over several years.??

What Web3 could mean for charities and non profits.?

I’ve worked in charity for 22 years now.?I’ve seen some change in that time, but not loads.??Almost quarter of a century… and not much change.?The older I get the more frustrated I am by the amount of going round and round in circles.?The same information and practices regurgitated in a slightly different format. I’m frustrated that there are so many awesome people in the sector that don’t get a voice, including the beneficiaries that the charity exists to serve in the first place.?The same voices and people in power broadcast the direction of the organisation based on what’s gone before.?Lack of investment in long term solutions, lack of trust, lack of genuine revolutionary ideas and concepts, repeated ineffective solutions that barely scratch the surface of sustainable change and top down decision making.?It’s no wonder that the percentage of people saying that charities play an “essential” or “very important” role in society has dropped steadily, from 76% in 2012 to 55% in 2020. Source:?Civil Society.??

Web 3 and?the introduction of DAOs?(Decentralised Autonomous Organisations)?could help disrupt some of these damaging repeated patterns.?DAOs (pronounced Dows) are built on the understanding that we all have a voice, that’s everyone, not just the CEO or SMT and that anyone can get involved.??

Imagine that a new and exciting project is announced that solves a real problem.?You may not have ‘expertise’ in that field, but you’re passionate about it.?You may have never worked on a project like that before but you have a lot of ideas about how to solve it.?(You probably don’t have to imagine very hard, there’s probably been countless times in your life where you thought the wrong decision was made about something but you had no choice but to go with it.)?In a DAO you’d have a voice, you’d be welcome and encouraged to take part, to lean in and give your opinions.??

There are new DAOs popping up everyday.?For example; DAOs focused on getting more women and non binary people into tech, Social Networks where you own your content and community, NFT art galleries,?New decentralised financial systems and a Beer Loving DAO.?And the list is growing daily.?And one of the beauties is anyone can participate in building it or investing in it from day one.?No prior experience needed.?The possibilities are endless.?It feels exciting, it feels new, it feels disruptive and engaging.

How it works in summary; Typically the DAO announces the release of x number of non fungible tokens (NFTs) and prices start from as little as a few dollars/pounds of Cryptocurrency.? I'll do another post another day about NFTs because it's a whole other subject! You can also get involved and rewarded by volunteering your time.?When a project launches, 10% of the tokens might go to the early builders, 10% for sale to the public, and the rest is set aside for future payment of contributors and funding of the project.??

Stakeholders?can use their tokens to vote on changes to the future of the project, (which collaborations to get involved with, the roadmap of the project, when and how to launch new products or activities) and the people who helped build the project can sell some of their holdings to make money after the tokens have been released.??

People who believe in the project can buy and hold ownership, and people who think the project is headed in the wrong direction or just aren’t interested can signal this by selling their stake.

Because blockchain data is all completely public and open, purchasers have complete transparency over what is happening.?(Sidenote: I know there is a lot of terminology which might seem foreign, and I can assure you that in the communities I’ve joined NO question is silly, and there are a ton of amazing resources available for free to help you navigate your way round. For example?Lavinia D. Osbournes?Women in Blockchain?Technical 101.)

Transparency in DAOs mean you can join any DAO community and instantly read their roadmap, comment on it, and make suggestions.?This is in contrast to buying equity in private or centralised businesses where many things are agreed and hidden behind closed doors.?Consider what that model could also mean for supporters and beneficiaries of not for profit orgs and charities.?

Charity or Not for Profit focused DAOs have the potential to turn the sector on its head.?Allowing people from all over the world to have a say as to their future.?

In comparison to traditional companies, DAOs have a democratised organisation. All the members of a DAO need to vote for any changes to be implemented, instead of implemented changes by a sole party (depending on the company’s structure). The funding of DAOs is mainly based on crowdfunding that issues tokens. The governance of DAOs is based on community, while traditional companies’ governance is mostly based on executives, Board of Directors, activist investors. etc. DAOs’ operations are fully transparent and global, meanwhile, traditional companies’ operations are private, only the organisation know what is happening, and they are not always global.”?Cathy Hackl, What Are DAOs And Why You Should Pay Attention from?Forbes.?

All of this is already happening in the Web3 space but it is just the very beginning.?In the short amount of time I’ve been involved in this space, I have felt so welcomed and there are humans from every corner of the Globe collaborating on projects.?It feels fresh, exciting, really fun and very empowering.??

Perhaps you’ve always wanted to work in or be involved in an organisation focused on climate change. Maybe you’ve always fancied yourself as a community leader.?Perhaps you’ve always had an interest in building computer games but didn’t feel you had the relevant coding experience.?Now’s your opportunity!??

What could all this mean for the future of your organisation??I have no idea but I’m excited and curious to find out.?If you are too, give me a shout.?If you have any thoughts on this, let me know! And I’ll very happily share what I’ve learnt and we can explore together!?

PS. Yesterday I saw The Sheila McKechnie Foundation had released:?It’s all about power, a guide to thinking differently about power for solidarity in social change.?It’s full of actionable tips and I’d highly recommend downloading it & giving it a read.??

It also just backs up the notion that the current charity system is broken and we need to look at something radical and evolutionary for it to be fit for the future.?Something that shifts the power and puts it in the hands of the communities, welcomes diversity of voices and experiences in order to transform the current dynamics to achieve meaningful and more effective social change.

Lana Dingwall

Building a positive sum world with blockchain and web3 tools

2 年

I loved this post, thank you for taking the time to explain. I was just reading this AM about how AA is essentially an 86 year old 'DAO' since they operate with a decentralized model. https://www.fwb.help/wip/alcoholics-anonymous-the-86-year-old-dao - we're entering into a very interesting time of changing how organizations, organize.

Caroline Doran PCC

The Impact And Thrive Coach. Helping leaders and their teams create the environment for sustainable impact | PCC (ICF) Coach | Facilitator | Trainer | Best-selling Author | Leadership & Personal Development Geek

2 年

Wow Jane, what a thought-provoking and exciting article. You've opened my eyes up to a world I was completely ignorant of and got me really interested!

Carla Miller

Women's leadership & confidence coach, trainer & keynote speaker. Gender equality. Best selling author of Closing the Influence Gap & host of Influence & Impact podcast. Helping women build influence & impact at work.

2 年

My mind is boggled by the idea of it. Well done you for getting your head around enough to explain it to others and join in. I would love to think about this in the context of women's leadership when I have the headspace.

Richard Hall

Storyteller for social good | Brand storytelling | Messaging | Tone of voice | Charity | Purpose-led | Copywriting | Workshops | Training | Brand strategy | Fundraising

2 年

Fascinating Henry Rowling Anne Race

Jane Curtis

I help Charity Folk Build & Grow their Profitable & Life Changing Freelance Work | Mentor, Coach and Trainer for Charity Freelancers | From Fundraiser to Freelancer? Course & LinkedIn Audio Series

2 年

Helen Olszowska; Wayne Murray thinking of both of you when I was pulling this together.

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