WEF is a decentralized fund aimed at harnessing the power of Worldcoin to sponsor education for underprivileged kids worldwide. By leveraging the transparent and immutable nature of blockchain, WEF ensures that all donations directly benefit verified educational organizations.
Every transaction, whether it’s a donation or a fund disbursement, is recorded on the blockchain. This provides absolute transparency and ensures that every Worldcoin's journey is traceable from donor to beneficiary. Vetted Organizations:
Educational organizations apply to become beneficiaries. They undergo a stringent verification process to ensure their legitimacy and commitment to their cause. Staking & Rewards:
Donors have the option to stake their Worldcoin donations. The yield from staked coins can be used to further the fund's goals or reward donors with a small return as an incentive for long-term support. Community Governance:
Holders of a specific amount of Worldcoin can vote on key decisions, such as selecting new beneficiary organizations, fund management strategies, or changes to the platform's operation.
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The smart contract automatically distributes a predetermined percentage of these funds to vetted educational organizations. Alternatively, the funds can be periodically distributed based on community voting. Educational organizations utilize the funds and provide periodic updates, which are then stored and can be accessed by the donor community. A dashboard (accessible via a web or mobile interface) displays real-time data on donations, fund distributions, and success stories, enhancing transparency and trust in the system. Benefits:
Transparency - Every Worldcoin's movement is traceable, ensuring transparency in fund utilization. Autonomy - The decentralized nature eliminates the need for intermediaries, ensuring more funds reach the intended recipients. Community Engagement - By allowing Worldcoin holders to participate in governance, the fund fosters a community-driven approach to charitable giving.