My thoughts on Multisig Wallet : We need to grab this opportunity

Is a good thing that a new tool has been launched in the steemit platform by a particular witness team. This tool will really go a long way in helping the steemit platform as well as improving the mindset of steemians as well as making steemit more legit to few investors that still has doubts about the platform. I thank @ubongudofot for creating this contest. Let me quickly share my thoughts about this new tool.

What are your thoughts on a multisig wallet and on steemit communities

The multisig wallet is a very incredible one as it will help to improve this platform from different areas of problems. When I saw this contest at first, I was very confused and curious at the same time, I was trying to know more about it because am attracted to the contest and I really want to participate in this contest. I asked my friend @ruthjoe to explain more about this contest to me until she finally did so and made me understand better.

The multisig wallet is a wallet in which multiple steemians can sign when making a transaction in a particular wallet. If a community has this wallet, it will give three persons and not only the admin, the opportunity to make transactions in a wallet. Once an admin has an intention to power down a community account, he wouldn't be able to do so with this wallet because he must get the permission from two other moderators or steemit users before the admin carries out such selfish act.

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I remember a community that made me very angry with steemit, the reason I didn't display my anger is because I was just 6 months old in the platform and there was no body to answer my questions. This community just stop functioning out of a sudden, there was a weekly contest that's always held by the admin and he didn't even share the rewards to the winners before powering down.

I was so confused at first, I began to monitor the official account of the community in which we have been doing all4one these months and our sweats were just going to the official account all in the name of improving the voting power of the community account.

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They didn't power down immediately and I was having hope until they powered down and I had no option to start posting in different other communities. I got discouraged at first but I decided to move up and chase my dreams.

Do you think it will be effective in a community?

It should be very effective in a community because once it begins, the trust of it's members will be very high and they will also gain the trust of the steemit curators team. Once all this happens, the community will greatly develop and it's members will be very happy. This initiative will greatly make communities last longer in the steemit platform.

Will you like your communities to adopt this initiative?

Yes I will love communities am in to adopt this initiative so that I can freely do what I want, not just me but other members.

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Even if I create a community, I will love to adopt this unique initiative. Am currently an assistant admin/moderator head in a small and growing community in steemit. My team will really love to adopt this initiative because it will help new members to freely set beneficiaries to our official account because this is what we really need as a growing community.

Who do you think should be among the signatories in each community and why?

This is the best question I always want to answer and am sure the system will make use of my idea. The first signatory should be the admin because he's definitely the owner of the community so he's entitled to such right.

In other to make sure this community funds doesn't get stolen by the admin alone, I suggest @steemcurator01 should be among the signatories because he's the one supporting most steemit communities so before such power should be done, steemcurator01 should be aware of it totally. He's entitled to it because he's partially an investor to communities.

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The third person should be either one of the moderators or a trusted member. The reason I said so is because if the admin decides to carryout out such act, he might bribe the moderator to sign and the moderator who's not highly spirited when it comes to steemit, will sign and this becomes possible if steemcurator01 doesn't end up becoming one of the signatories.

This will be impossible as well if a member of the community becomes one of the signatories because he/she wouldn't be able to agree with the decision and we need a very passionate steemian to be this person.

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

The impact such communities will get is the ability to get votes from steemcurator01 consistently because he's very sure that the community won't just power down and run away. Investors will be very excited to invest in communities because they are sure the community won't run away with their funds and the community will last longer. Thanks for reading friends and I hope you will also support this tool.

Cc.

@msharif
@visionaer3003