My thoughts on Multisig -wallet #1 : An effective tool to secure communities account

It's my pleasure to participate in this amazing contest which is all about multisig-wallet, in fact I am very happy for this initiative and this show steemit is improving in so many aspect. Kudos to @ubongudofot for bringing this idea, this idea will benefit every steemians for their effort in bring steemit to the greater height.

Multisignature wallet as so many advantage in case if another user who regard themself as the founder of a community may mistakenly misplace the private keys or power down without inform other users. Implementation of multisignature wallet will not allow owner to have full access to the communities account and he need to consult other users.

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What are your thoughts on a multi-sig wallet and on Steemit communities?

This initiative is perfect and effective for the smooth running of the communities without allow any intruder from outside to easily hack the wallet of the communities. Every communities must embrace this initiative for the longevity of the communities.

Their were some active communities before where many users perform their duties by writing high quality content, suddenly they just disappeared and no where to be found. Even many users who are ordinary members power down because they think this platform could not exist again.

Multisig- wallet is a modern technology that is applicable to cryptocurrency alone because it serve as the security for the communities asset. I 100% support this initiative because it allow users to have rest of mind and write many article as possible.

Do you think it will be effective in a community?

Big yes, it will create trust within the communities particularly among the Admin, Moderator and those who subscribe to the communities. Multisig wallet is safe and secure because every team members that form the communities will have full access to the private keys instead of single players.

Multisig wallet have been in existence for a long period of time and it has been consider as the safest tool in the crypto world. This form of digital transaction require signature of two or more group without signature of those users the founder of the communities will not have the ability to withdraw the fund easily.

Multisig wallet must be accepted by every communities so that users can rely or depend on such communities.

Will you like your communities to adopt this Initiative?

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I had been in so many communities and I want every communities to adopt this method for the betterment of the members who have passion to create quality content.

I urge every communities team to adopt this initiative because all their effort in reviewing post we write cannot be in vain, so individual cannot easily power down and run away with the fund or crypto you both work for. Every communities must come to conclusion to adopt this wallet for the progress of each users in the communities.

Who do you think should be among the signatories in each community and why? (I will carefully interact with you through this particular question)

The users that will sign the transaction in the communities must be trustworthy users who work tireless for the progress of this platform. Steemit team can assign a particular users because they know who is capable of running the affairs of the community. There must be a management for that or they should create some team who specialize in that aspect.

Another thing is their must be rule and regulation lay down by the steemit team so that Admin and Mod can follow whenever they want to carry out transaction.

What Impact can this create on communities that adopt this initiative?

• Signature of team members is compulsory to fulfill the transaction instead of single individual have full
access to the communities account.

• Communities wallet cannot be hack or stolen so it does not allow fraudulent act.

• Admin and Mod can make an agreement or rethink within the communities for the improvement of the communities. Multisig wallet is like a joint account and is the safest to keep coin

Communities must adopt this form of digital signatories so that it will not allow selfish founder to stole communities fund. Special thanks @pennsif for this opportunity and I hope every members will enjoy their stay in this platform. I will like to invite @rossnenye, @josepha and @crowd1 to come and join me in this contest.

Best regards
@akareen