How Web3 and Bitcoin Billionaires Will Revolutionize Philanthropy

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How Web3 and Bitcoin Billionaires Will Revolutionize Philanthropy
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Web3's biggest winners have an 'ethical obligation' to donate their wealth, RhysLindmark says in conversation with luo_trista. In CoinDesk Layer 2.

” – but you can just point it just at a charity. Crypto enables you to self tax yourself and direct where the money goes, so I hope in our future taxation system you get to choose where the money goes.That definitely happens within philanthropy.

By 2100, the way that we allocate and support public goods is going to be totally different than it is today. Right now it mostly goes through the state, and philanthropy is playing this role where it is not very transparent. The donor may choose where they put their money, but it is not accountable to anybody except the donor – so you get a market that's optimized for short-term private goods. While the government is optimized for short-term public goods, like roads and bridges.

An idea machine is something that is kind of like a movement of people who are looking to do something, but it's self organizing, and naturally is able to get excited people into it, but also excited capital. So you need kind of the money and the people that are starting to prioritize things and push towards these outcomes. And then once those outcomes happen, value gets created, and then the money, more people and talent kind of go back into that system.

The other side is learning to measure the actual risk of new risky nonprofits that could have huge returns later. We’ll have to have some kind of equity or way to evaluate companies at the beginning based on how risky they are, because they might not all create impact but some of them might.It's a good question. I honestly need to do some of the thinking myself more about this, whether this is actually something that people deeply, deeply want.

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