Kimbal Musk is the brother of Elon Musk.
Fred Prouser.
You've heard of ConstitutionDAO, but what about Big Green?
Kimbal Musk, the billionaire brother of Musk, is creating a collective of cryptocurrencies called Big Green DAO.
According to its website, the new DAO is hoping to disrupt the philanthropic world and create food justice. Ark Invest's Cathie Wood is a contributor.
I'm going to run an experiment to decentralize philanthropy. Kimbal wrote in a message that he was launching the first Giving DAO. He is the chief executive officer of Big Green, a nonprofit organization that teaches people how to grow food, and also sits on the boards of both SpaceX andTesla.
Kimbal said in an interview that he loves the idea of decentralizing power. When he released the white paper, or guide, on his new group, he reported he didn't get a single troll. Kimbal did not reply immediately.
The Gates Foundation in Seattle is a good example of a leaner model of philanthropy that avoids huge overhead expenses. He said that a decentralized organization doesn't have a need for an office.
One function of DAOs is to allow online communities of people to pool resources. The rules governing the DAO are enforced by aBlockchain code.
The executive committee of the Big Green DAO can nix proposals that don't comply with its food-justice goals, but members still get the voting power on grants distribution.
Kimbal admitted that his DAO is an experiment. If this doesn't work, we'll go back to the drawing board and try a different way.
Business Insider has an original article.
