{"action":"created","issue":{"url":"https://api.github.com/repos/district0x/district-proposals/issues/10","repository_url":"https://api.github.com/repos/district0x/district-proposals","labels_url":"https://api.github.com/repos/district0x/district-proposals/issues/10/labels{/name}","comments_url":"https://api.github.com/repos/district0x/district-proposals/issues/10/comments","events_url":"https://api.github.com/repos/district0x/district-proposals/issues/10/events","html_url":"https://github.com/district0x/district-proposals/issues/10","id":240836967,"number":10,"title":"DP #10: etherAid - A Decentralized Local Charity","user":{"login":"okmrponcho","id":29905125,"avatar_url":"https://avatars3.githubusercontent.com/u/29905125?v=4","gravatar_id":"","url":"https://api.github.com/users/okmrponcho","html_url":"https://github.com/okmrponcho","followers_url":"https://api.github.com/users/okmrponcho/followers","following_url":"https://api.github.com/users/okmrponcho/following{/other_user}","gists_url":"https://api.github.com/users/okmrponcho/gists{/gist_id}","starred_url":"https://api.github.com/users/okmrponcho/starred{/owner}{/repo}","subscriptions_url":"https://api.github.com/users/okmrponcho/subscriptions","organizations_url":"https://api.github.com/users/okmrponcho/orgs","repos_url":"https://api.github.com/users/okmrponcho/repos","events_url":"https://api.github.com/users/okmrponcho/events{/privacy}","received_events_url":"https://api.github.com/users/okmrponcho/received_events","type":"User","site_admin":false},"labels":[],"state":"open","locked":false,"assignee":null,"assignees":[],"milestone":null,"comments":10,"created_at":"2017-07-06T03:47:28Z","updated_at":"2017-08-20T16:08:18Z","closed_at":null,"body":"![screen shot 2017-07-14 at 11 11 50 am](https://user-images.githubusercontent.com/29905125/28224885-99cc3eca-6885-11e7-82bb-585a197d786c.png)\r\n\r\netherAid – A Decentralized Local Charity\r\n \r\n\r\n## Purpose\r\n\r\nShare the wealth. \r\n\r\nThe etherAid network will connect local charities directly with donors across the world. The network will provide immediate funding to those most in need, all sourced from the thriving crypto economy. Charities are held to high ethical and fiscal standards using the etherAid Reputation System (eRS). Donor funds are managed by a smart contract system that gradually releases funds based on the charity's reputation.\r\n\r\n_[ Look for sections in italics where we need help from the community! ]_\r\n\r\n\r\n## Description\r\n\r\nIn today’s world, charitable programs receive a great deal of international attention and support, particularly in the aftermath of terrorist attacks or natural disasters. In these times of need, the world is eager to provide support, however obstacles stand in the way. Traditional financial systems do not allow for real-time transfer of funds. Lack of transparency into operations force donors to rely on trusted centralized organizations like the Red Cross. At best, the current system is highly inefficient; at worst, it is susceptible to corruption.\r\n\r\nIndividual donors do not have the choice of how specifically to allocate funding. They may decide to support “improving education in Oakland” for instance, but they cannot decide whether to pay for teacher education or for improved technology in schools. Again we rely on centralized organizations to handle this decision-making.\r\n\r\nWith etherAid, local charities will be able to set up comprehensive budgeting proposals and lobby directly to a pool of potential donors. Donors will decide which charities to support based on (1) need, (2) track record of execution, and (3) current funding status.\r\n\r\n\r\n## Stakeholders\r\n\r\nThe EtherAid network is made up of 2 stakeholder groups:\r\n\r\n**1) The Charity** – The local charity is the primary beneficiary of the network. As a local charity, you will register a project on etherAid with a basic profile including cause, budget proposal, and funding goal. The success of your charity relies on building positive reputation through transparent use of funds and effective communication back to your donors.\r\n\r\n- Budgets can be built around any ERC-20 token\r\n- _[ If you know of any local charity programs that would be interested in joining the etherAid pilot launch, please reach out. Early adopters to the platform must be progressive enough to accept funding in crypto and have a solid history of managing donor funds. ]_\r\n\r\n**2) The Donor** – Individual donors are the heart of the network. They want to support their communities. They do not wish to blindly throw money at a large organization, but they want to actively participate in the management of their funds. The success of the network relies on donors maintaining a level of engagement in their charities and holding them to a high standard of quality.\r\n\r\n- Over the long run, donors will ultimately dictate the future direction of funding models, minimum standards of quality, and budgeting best practices\r\n\r\n\r\n## Funding mechanisms\r\n\r\nCharities establish detailed budgets to which donors can pledge funds. Once the budget parameters are met, donor funds will be locked in a smart contract that governs their release. Releases are dependent upon the charity maintaining a minimum level of reputation in the etherAid Reputation System (eRS).\r\n\r\neRS is a system that gives the donors a way to govern the funds locked away in contribution smart contracts. Donors are able to influence the reputation of charities, and charities must maintain an acceptable level of reputation in order to spend donor funds. \r\n\r\nTo begin, charity budgets will have very slow release schedules dependent on very high charity reputation levels (high eRS score). Over time the standards will be adjusted by the community using free market mechanisms.\r\n\r\n_[ We are currently looking for someone with technical experience in implementing reputation systems to assist with the build out of eRS. If you are interested, please contact mrponcho. ]_\r\n\r\nIn future iterations of etherAid, emergency funding will be possible by utilizing eRS. Multiple high reputation charities and donors can cooperate to approve a particular budget to receive accelerated funding releases. This is a vision that will enable etherAid to one day meet the needs for disaster relief funding. \r\n\r\n\r\n## Utilization of district0x features\r\n\r\netherAid is a perfect fit for district0x.\r\n\r\n- Posting & Listing: Charities post detailed budgets, long term funding roadmaps, and measurable goals.\r\n- Searching & Filtering: Donors can find charities by searching by name, location, purpose,  description, or keywords.\r\n- Ranking & Reputation: Charities must maintain a level of reputation in order to receive funding from pledges locked in a smart contract. Donors collectively influence the reputation of charities.\r\n- Payments & Invoicing: Pledged funds are sent to a smart contract. The contract releases funds to the charities if certain parameters are met, including operational goals and reputation.\r\n\r\n\r\n## etherAid's future roadmap\r\n\r\nIn the near term, etherAid will be focused on building eRS, onboarding local charities, and fostering support across the crypto community. We will begin with simple, conservative funding contracts based on reputation. As the community grows, we will build more complex funding mechanisms, allowing us to meet more needs. \r\n\r\n- Emergency relief funding mechanism\r\n- Dynamic eRS based on external inputs\r\n- _[ If you have any other ideas about how to improve or build upon etherAid, please reach out! ]_\r\n\r\n\r\n## In summary\r\n\r\nThe etherAid network is a way for local charities to leverage the power of the decentralized web for the good of society. It connects donors directly with local charities, bypassing inefficient intermediaries. The etherAid Reputation System (eRS) creates incentives that ensure funds are used ethically and in line with donor expectations.\r\n\r\nOverall, the etherAid network will take overhead cost and skepticism out of the global aid market, freeing up more capital to quickly move to those most in need.\r\n\r\n\r\nMessage me on district0x slack @mrponcho !"},"comment":{"url":"https://api.github.com/repos/district0x/district-proposals/issues/comments/323594634","html_url":"https://github.com/district0x/district-proposals/issues/10#issuecomment-323594634","issue_url":"https://api.github.com/repos/district0x/district-proposals/issues/10","id":323594634,"user":{"login":"imdying","id":30946909,"avatar_url":"https://avatars3.githubusercontent.com/u/30946909?v=4","gravatar_id":"","url":"https://api.github.com/users/imdying","html_url":"https://github.com/imdying","followers_url":"https://api.github.com/users/imdying/followers","following_url":"https://api.github.com/users/imdying/following{/other_user}","gists_url":"https://api.github.com/users/imdying/gists{/gist_id}","starred_url":"https://api.github.com/users/imdying/starred{/owner}{/repo}","subscriptions_url":"https://api.github.com/users/imdying/subscriptions","organizations_url":"https://api.github.com/users/imdying/orgs","repos_url":"https://api.github.com/users/imdying/repos","events_url":"https://api.github.com/users/imdying/events{/privacy}","received_events_url":"https://api.github.com/users/imdying/received_events","type":"User","site_admin":false},"created_at":"2017-08-20T16:08:18Z","updated_at":"2017-08-20T16:08:18Z","body":"Wow. I would love to have this district plug into the Social Betting District I am proposing... \r\n\r\nI'd like to take the stigma away from betting with your friends on something and have the profits go to charity. The social betting market is estimated to be $500 M - $1 Trillion.  If even a tiny fraction of this went to those it need that would be great.\r\n\r\nhttps://github.com/district0x/district-proposals/issues/97"}}
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