Christmas crypto digressions on the use of DAOs in condominiums

Blockchain applications bring innovative solutions, and these have the potential to solve trust issues in human relationships. Absolutely. Provided these are designed well with broad consensus and knowledge.

Bitcoin opened the minds of many people. However, we are still very few who dip our feet in the warm waters of the vast technological ocean within our reach.

Today, I want to disconnect from the feeling of urgency and oppression caused by the declared intentions of the financial and corporate elites: You will have nothing and be happy. In the end, one is condemned and forced to free will. A kind of blessing or curse predetermined in our nature that defines us as a conscious beings.

Yes! It seems that, initially, the Trojan horse, the CBDC, did not produce the desired effect in Nigeria. It is a hopeful failure for us: who want a free world. People are not as stupid as they imagine. My congratulations to my Nigerian brothers.

Of course, the fight is just beginning. It is not a sprint, but a distance race, at a trans-generational distance.

I trust in the marriage of reason and emotion, seeking the perfect balance between freedom and equality under technology at the service of man.

Excuse the pseudo-philosophical connotation of these first few paragraphs. I do not intend to bore you on the first day of the last week of 2022 in the agreed calendar of our thriving civilization. I know many here prefer more mundane topics.

But analyzing the environment around us is sometimes necessary to avoid sinking into the quicksand of our days. Of course, someone might argue, what good did it do for the orchestra to play on the last night of the Titanic? Well! At least catharsis in the face of impending death.

Let's put aside the vague thoughts and move on to the supposed action, shall we?

As you well know. In December, the economy usually picks up due to the holidays. Companies are accustomed to paying year-end bonuses. At the same time, they pour into the market goods and services to collect monetary liquidity again. The marketing-driven consumption cycle is thus continued.

I don't know about you, but I am assured that: the system is designed to drain the most monetary liquidity on this date, including the condo board where you live.

2022 brought with it many economic restrictions. For example, in the field of the crypto market, more than one project collapsed, causing a general drop in the prices of highly speculated digital assets.

When you see the value of your own portfolio, you can become depressed or frustrated at best.

Imagine the shock of those who invested their life savings in failed non-decentralized crypto projects, such as the recently bankrupt FTX Exchange.

Yes, it was an unfortunate situation. Ignorance, greed, and overconfidence were bad advisers for those affected. So, I hope you have learned wise lessons from failure so as not to commit them in the future. Of course, the adage ensures that man is the only one who stumbles on the same stone.

Please, let's learn from the experience of others: Do not entrust control of your money to anyone. This is not exclusive to the crypto world. The danger of monetary loss is everywhere when you do not have control over your means. In the crypto realm, be sure to use non-custodial hardware or digital wallets. You are solely responsible for the private keys of your real cryptocurrency accounts.

I am aware there is still a long way to go to educate about blockchain and an effort for a paradigm shift to bring about mass adoption. Also, remember that entrenched elites will oppose it at all costs. And try to take over the technology. They always have until now - enough is enough: it's time for a change.

Yes, I agree with adopting decentralized digital cryptocurrency. But it is necessary to end high price volatility and establish a fair benchmark, separate from the dollar and any fiat currency.

Of course, on the other hand, establishing the government of the computer code through smart contracts deserves to make it as easy as possible for the user. Otherwise, people will resist the change.

I consider blockchain a magnificent technology for solving governance problems due to a lack of transparency, as evidenced by conflicts of interest and corruption. In this sense, I find it difficult to find any organization free of these vices: public or private.

One would be lucky to live in a clean and honest neighborhood association. Early or late, some mismanagement occurs, intentional or not, that harms the majority.

You may have heard about DAOs (Decentralized Autonomous Organizations). Well, imagine you encourage a DAO to manage the condominium in the building where you live. How difficult would it be to do so? Which blockchain would be the right one? How to implement the decisions of the stakeholders, i.e., those who live in the building?

In particular, I would like to promote a solution of this type in the community where I live as less traumatic as possible. People use the technology that seems least cumbersome to them.

I don't know if there is (currently) such a solution in the Bitcoin Cash community.

On the Ethereum blockchain, there are solutions to create custom DAOs, but unlike BCH, the associated costs are high. Also, don't dismiss the entry learning curve for co-owners, and ask yourself, how interested are they? They only jump when their pocket is touched.

Anyway, I'll do my own research on it.

I would love to eliminate the toxicity of the comments in the building's WhatsApp group due to neighborhood disputes generated by distrust in the board of directors. No matter who assumes these positions. There will soon be someone dissatisfied or suspicious of the honest management of financial resources. Remember, a condominium is simply a pooled wallet for the maintenance expenses of the common areas. So doing more with less is what everyone wants. That is, to save every penny.

Fortunately, I do not belong to the board of directors of the condominium of the building where my family lives.

Despite a frugal coexistence: not beyond the cordial greeting and good morning during the fleeting encounters with the neighbors in the ill-fated elevator.

It is not enough to avoid the effects provoked by the contributions demanded to pay for unforeseen repairs, and that makes of the unknown recognizable faces: real threatening gladiators in the networks.

Perhaps the final solution is to implement a DAO for the condominium.

An original article by @Jnavedan

The thumbnail by Pandanna Imagen on Pixabay 

I end by thanking all my colleagues in the community, who add value every day here. As well as all my sponsors for believing in the content I share with you.