FINAL PROPOSAL FOR

STEEM UNITED

@steemunited, www.steemunited.com

INTRODUCTION

As per the new era that is dawning upon us in which participative governance on Steem is expanding into “unchartered waters”, the concept of setting up a formal body or group of people to help in the many financial decisions out there has come to life.

Unlike any blockchain to date, Steem is unique in the fact that it is a combination of a “Social Network” and a cryptocurrency business venture. It has successfully combined these “two worlds”. In doing so, there have been many areas of both the social networking and business sides of things that have needed a new or an improvised approach in order to adapt to the requirements of improving Steem.

As we set forwards towards forming this new formal body which shall have some decision making roles in the economical and business arena of Steem, we have heard and seen many different terms thrown out there. Again, this is obviously a result of this being a “first time” due to the unique nature of Steem.

One of these terms was “Foundation”.

Many people hold that private or public foundations require millions of US Dollars along with a drawn out administrative process to get started. They also are under the impression that a foundation has many administrative and legal burdens.

However, as this proposed idea is for a decentralized communal form of organization with many attributes that resemble a classical foundation it may not actually require all that.

First of all, the basic facts of the matter are that we Steemians have already embarked upon something that is definitely unique in nature. Not only have we come together to see how we can expand our endeavour that we call Steem, but we have already defined many points upon which we generally agree upon.

We have in fact already fulfilled all the requirements of the actual dictionary definition of a:

FOUNDATION

an underlying basis or principle.
"this idea is the foundation of all modern economics"
synonyms: basis, starting point, base, point of departure, beginning, premise;
fundamental point/principle, principal constituent, main ingredient;
principles, fundamentals, rudiments;
cornerstone, core, heart, thrust, essence, kernel, nub, underpinning, groundwork
"keeping records is the foundation of any personnel system"

Getting back to the real hands on topic.

Unlike the general “Foundations” of the fiat world, we shall be mostly if not exclusively dealing with cryptocurrencies and this in itself is entering into potentially “grey areas” as far as various legislature goes.
What is considered to be the norm for fiat based foundations, namely, a requirement for millions of dollars for it to be able to function, our concept of a formal body along the lines of a “Foundation” shall be utilizing cryptocurrencies and at the same time have a blockchain to keep all ledgers.

Our entire concept here is based on community and finding a means of participation by and from the communities that utilize Steem.

Hence proving that we have the leverage and freedom to redefine how this newly formed body shall function without being limited to the constraints of the legalities that restrict the flexibility of classical fiat world “Foundations”.

We are free to make and mould this new body into what we need it to be.

I present a proposal which covers most if not all the existing requirements as defined and envisioned with the flexibility for expansion in future as needed.

Overview

1- Formal Registration

A registered company in a “tax haven” with legal representation in that jurisdiction.
Company ownership is Decided upon by the initial investor: Steemit Inc.

2- Management

The management is made up of eleven people who are voted in by the community using a voting model that the community decides upon.

The Management team shall be in office for a period of twentyfour months (two years).

The Management shall put together their own “Statute” by which they shall work and make decisions.

The Management team shall be paid in Steem (or SBD).

All “cheques” must be signed off on by the investor, so as to ensure that the investor has firsthand insight into the business transactions involving their investment (donation).

3 - Financing

The financing of this endeavour is divided into various phases.

Start up.

The initial funds for investing into the various projects and programs is being supplied by Steemit Inc.

These funds shall be powered up and used to support the initial phase of project and program support as well as financing the requirements of the company to function.

In addition to this, it is highly recommended that during the first two year period, 33% of the DAO funds be invested into the company. So as to ensure a build up of capital which the community can utilize for cofounding approved projects and programs that add value to Steem.

For sustainable long term funding read below.

4- Investments (Co-funding of projects and programs)

All projects and programs that get approved can be co-funded up to a maximum of 33%.

This co-funding is an investment, whereby the contractual agreement shall define the terms and conditions of profit sharing once the co-funded venture gets off the ground.

This is a means of ensuring sustainable funding which shall be used for future investments of projects and programs that are deemed as good business and good for the expansion of Steem.

There is the option of extending the cofounding this venture via the DAO, however the goal needs to be to ensure a sustainable business practice be put into place which ensures the potential for this company to become “profitable”. Which shall result it there being two independent sources of financial investments from the Steem ecosystem which in turn shall help expand (build upon) our Steem ecosystem.

5- Communications and Coordination

With the way the inner management of the company is structured it allows for any or all of the suggested “foundations” to exist.

There is nothing stopping anyone from doing this as we clearly pride ourselves on our decentralized nature. Hence anyone can go and make a “foundation” for the good of Steem.

Thus there is an obvious need for a communications centre in for all Steemians who are interested in participating and keeping up to date with what all is transpiring.

If we are to have any success with our DAO + Communities + Investors + “foundations” + Developers + Project/Program Managers etc etc etc

It is clear that we require an orderly and efficient means of communications and coordination.

This not only nurtures the open nature and inclusiveness of one and all, it also ensures a higher level of transparency.

Again, ensuring that the good standing of Steem is ensured in the eyes of the public.

NOTES:

A separation of powers must be ensured and the only way to ensure this is that there is no perceivable conflict of interests at any stage within any decision making process.

For this to be assured as per the Steem Governance, it means that those who are part of our Governance (Top20 Witnesses) must not be allowed into any of the decision making processes of the company.

The good standing of Steem must be ensured at all times and applying the principle known as “Code of good practice” (& financial transparency) with a separation of powers and reducing any potential conflict of interests that comes with a separation of powers is definitely the way to go.

“Why reinvent the wheel!”

The management team must be professional in its business conduct and as representatives of a registered company can easily go into negotiations with other registered companies (as equals).

i.e. With crypto debit card issuers, with exchanges, with vendors/merchants etc etc etc.

Likewise a registered company has the flexibility to expand upon its business dealings and is not restricted by stringent laws governing “traditional foundations”.

All of this is described in more detail in the texts that follow.

THE FULL PROPOSAL WITH ALL JUSTIFICATIONS CAN BE DOWNLOADED FROM THE FOLLOWING SOURCES:

http://www.jackmiller.info/steem-united/

or

on Discord:

https://discord.gg/ZdGWAtX

Yours truly,
@jackmiller

If you want an avatar and other graphics like my “Robotroo” contact @jimramones

STEEM ON!