Here at WeTrust, we believe that the blockchain can be used for social good. As a demonstration of our commitment to that mission, we recently organized a Trusted Charity Circle (inspired by Trusted Lending Circles) on the WeTrust platform. Here’s how it works:
1. During each week of the Charity Circle, each member will contribute 5 Ether into the pool
2. One member of the group will be selected at random as the winner of the Ether pool each week, with no member winning the pot more than once
3. The recipient of the funds for that week then donates the proceeds to a charity of their choice
4. Over the course of the 5 week period, every week each person ends up contributing 25 Ether to the charity of their choice
The purpose of taking these actions above, is to demonstrate for the first time that the WeTrust Platform is capable of supporting similar use cases where participants collaborate transparently as a group in a financial endeavor, contributes tokens, and receives tokens distributed back to them over time, without the need for a trusted third party. One can imagine all the new ways application developers will use these improved capabilities to build decentralized applications.
We’re very lucky to have some major movers and shakers in the blockchain world generously agreeing to participate in our Trusted Charity Circle. Thank you: Matthew Roszak of Bloq/ Tally Capital, Jeremy Gardner of Blockchain Capital/ Auger, David Johnston of Factom, Emin Gun Sirer of Cornell, and George our co-founder!
