Simplifying Hive Bookkeeping
Lately, I have been thinking of starting up a foundation that grants scholarships for people who are seeking non-academic education. This could be for vocational training, certification training, or even for hiring trainers for specific group of people. The world of academia is already saturated with scholarships. The sad truth is that a good portion of that money goes towards people earning worthless degrees that do not result in well-paying jobs.
My thinking is that much of the complication of using crypto is eliminated for nonprofit organizations. Without having to worry about paying income taxes, the only worry would be payroll taxes. A nonprofit could operate on a very lean workforce. Of course, that does involve payroll taxes. Those cannot be avoided.
Hive could serve as an interface with the public and as a public ledger. The nonprofit could post progress updates on Hive. Donations in crypto could be converted to Hive to serve as a sort of bank. The trouble would be fiat donations. It would be terribly inefficient to convert fiat to crypto and then back again. Fiat donations would have to be kept in a bank account. This works out alright because a nonprofit would need a bank account to pay employees and vendors in fiat. Also, a bank account is necessary to receive money that is cashed out from crypto.
The reason I am thinking of having a nonprofit have a Hive account is that it would not be too challenging to build up the nonprofit to a large balance. A $10,000 account would do wonders for the Hive community with curation alone. A bigger account would have so many more options.
It would be important to narrow the scope of the curation to those things that the nonprofit supports. Votes could support activities that educate people who are getting started in the workforce. Votes are like mini-grants. HBD could be awarded as larger grants for projects. Delegation could be awarded as an investment in other projects to get them started. Delegation is nice because it can be revoked if the winner does not meet requirements.
I don't have a full picture of how this would work. However, the idea of awarding grants to people seeking non-academic education is firm. I think many people need to level up slowly. They need to go from no skills to one skill, then another. A person could become a plumber assistant, for example, and then, after they become a plumber, need to learn how to do bookkeeping so they can run their own business. Or, maybe a person needs to obtain a technical certification. Or, perhaps a local organization wants to train several people for a certain skill. Rather than pay individual grants, the nonprofit could hire a trainer for that purpose. It could even subsidize apprenticeships for a few months.
The ultimate goal is to give people that first break they need to enter the workforce with a skill. The reason Hive would be important is that it could become like an endowment. In the end, maybe Hive could be a component of the nonprofit rather than the bulk of the nonprofit.
The core of it would require filing for incorporation, getting the nonprofit status from the IRS, finding a board of directors, and working out the business process to keep the organization alive.
I have a friend who did consulting for nonprofits tell me that if you want to do good, just do good. Once you set up a nonprofit, you no longer focus on doing good. Your job becomes administrative while others are doing good on your behalf. I think about that, hence the hesitation. The simplest thing would be to set up a scholarship without a foundation to run it. Except that would reduce the scope of what is possible, such as using Hive.
A church, for example, could use Hive to communicate with the community. People could donate Hive, HBD, or simply curate church posts. The income could be used to pay for charitable activities while the church simultaneously grows HP.
I wonder what exchanges are available for organizations? We would need a way to convert between crypto and fiat.
I suppose something like this could also attract scammers. But, then, it would be publicly known if anything were unethical and contributions would dry up.
There are so many things to think about.
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