The University of California, Berkeley is where the EduDAO started.
David Madison is a photographer.
BitDAO is helping to launch a funding channel for student-led projects focused on the internet.
The creation of a separate DAO, called EduDAO, was announced on Friday, and will partner with eight of the world's top educational institutions, including Harvard University, the University of Oxford in England, and Tsinghua University in China.
Up to $11 million will be allocated to separate university-centered DAOs by the treasury of BitDAO.
$33 million will be used to start the school. The aim is to get early-stage venture-capital investments to support the next generation of technologies.
The next iteration of the internet is referred to as Web3. A group of internet friends form a group with a common purpose. The rules of that group are established and enforced with a code that runs on a computer network.
The most promising technology products and designs are being created at the university level, but investment capital is sorely needed, according to Jonathan Allen.
He said in the video introduction that an investment of $25,000 or $50,000 could be maximized by 50 times.
He said that growth brings revenue back to the organization and that they can use that to educate more students. The result is a cycle of organizations helping students and students building projects that fund the university, and then helping students again.
The initial eight educational institutions include MIT and the University of Pennsylvania.
Business Insider has an original article.
