Weifund & Boardroom

Transcript

so today I'm going to be presenting on two projects I'm going to try and get this done in 15 minutes so it's a lot so bear with me it's going to be wave fund which is crowdfunding centralized crowdfunding and it's going to be board room which is decentralized governance so what is wave fund so wave fund I can break it down into two things really simply crowdfunding and it's digital asset issuance and it's all done on a theorem so when we think about digital assets we can think about equity rebates financial instruments loyalty points discounts products coupons and it feels a lot like Kickstarter and I'm sure a

lot of you have used kickstarter you've used things like that wave fund is designed to feel like that but it runs completely on smart contracts at a fraction of the cost and can do a lot more so this is the wave fund version one kind of discovery interface so this is the interface you're going to see when you're you know looking through campaigns trying to figure out what you want to contribute to its very much like Kickstarter but everything's in ether you can see here this is a the interface to actually donate to a campaign so you can see there's some critical differences the funds are in ether and as well we have at the bottom their tokens issued so when people contribute you can do this really cool thing where

you'll get secure issuance of tokens back to the person who contributed so this this creates a very very interesting system so what is it technically it's the most simple Diab design there is it's one smart contract and one UI and I like to think of it as having a lot more meaning than code and it's much bigger than you think it is so sort of interesting element to this is I like to see it as rebuilding the one-to-one relationship so there's no VC firms there's no lawyers there's no management there's no middlemen

there's no payment processors no banks and there's a lot less transactions it is between the investor and the company just you and your money and when we think about so investors are now instead of eyes to use them promote the product so so this is kind of a second idea as well when you invest in these products you're now incentivized to say okay I'm going to go out and I'm going to actually use them I'm going to sell them I'm going to promote them this changes the dynamic for your investors and for your customers so an example that I like to bring up is the coffee shop example

so imagine you kind of walk down the street and there's a coffee shop you really like and they're trying to raise some money so with a conventional crowdfunding campaign they'd raise money and it just sits there with equity crowdfunding particularly decentralized crowdfunding the relationship changes you walk into the coffee shop and you say okay you know I've donated to your campaign I have verifiable evidence it's written into the blockchain that not only my contributor but I have so many shares of this coffee shop now all of a sudden the relationships taken a completely different turn this may mean I can make decisions in this coffee shop I can maybe maybe next month I decide

what coffee they're going to bring in now I'm also invested in whether they do well or they don't so I'm going to start promoting their business and creating a really sort of dynamic relationship this is something we just haven't had before so it's not bc it's not venture capital it catalyzes your user base and this is something that's kind of related to equity crowdfunding in general but with a theorem it really does take a different turn so we own the shares of what we use and this is just coming back to that one idea and this means more power for the everyday consumer and the everyday investor so you know you're going to start seeing ownership of

various roles and businesses by everyday people and it's going to happen at an alarmingly fast rate and it all comes back to this other idea which is we're going to govern what we own so and thus govern what we use okay so how do we feel about this so far we good everyone's yeah all right cool all right so second thing is we're raising money we're building a user base this solves a big problem in business it's just getting users getting customers and I like to think of this as as well offering high finance to everybody some financial services that were once

available to massive corporations you need tons of lawyers you need all this sort of infrastructure now we're just giving that to everybody we're giving that to the coffee shop we're giving that to your neighbor down the street everyone will get access to these services having a built-in user base lowers your risk because now you have customers and when we think about funding I like to think of it I think about it as free speech and so I like to think of wave fund as being not only an investment platform but also a freedom of speech platform so another interesting aspect is that the shares that will be raised on way fun will be a standardized token and that means that

they'll be immediately tradable on decentralized exchanges so this creates sort of a very interesting dynamic and I think it's really interesting to think about what if the two billion that Kickstarter raised over their years of business was financialized you know what if that was equity share what if that was digital assets how much more money would that are generated in business if it just didn't sit there it would have you know tripled quadrupled so this is just an interesting pot to think about the contractual design patterns are fairly simple wave funds

design in a way that's just outwardly extend extend ssible it's a very very simple contract it's less than a hundred lines of code this can talk with more complex controllers and those controllers can then talk two tokens so this creates sort of an interesting design chain that's completely modular and very extensible so two challenges with wave fund we can think about social readiness and jurisdictional regulation and to get into these just a little bit social readiness just adoption of ether and adoption of this sort of new paradigm of thinking this new technology and as well jurisdictional regulation just needing to catch up to this sort of

new paradigm of thought so addressing these two challenges we can think about educating the populace the social evolution and also just support from government business in general and there's a lot of different interesting ways this is happening already but the JOBS Act which is kind of freeing up equity crowdfunding and also non US regulators so how do we make sure these projects don't fail this is another critical aspect of the whole thing you're going to raise money on wave line you're going to raise money into centralized crowdfunding but how do we make sure it doesn't fail this is when the second project that I'm working on

comes in called boardroom so the idea here is that you'll deploy board and then go out you're going to raise capital for that the beneficiary of the campaign can actually be a contract and that can be a board and this is where you'll have a sort of dynamic voting process come into play and you're going to have just some really interesting dynamics happening where orbs will just pop up and then funds will be raised for it and the equity raised will actually have decision-making power in the organization and this will all happen in a contractual space so let's get into a little bit of a boardroom walkthrough

and I have five minutes so I'll try and get into it as best I can so this is the opening of boardroom and it's the first public showing so yay so what you're seeing here is a visualization of a board and this is Pied Piper and so here we're just seeing some basic membership and proposals and these sorts of things so bored is just boardroom and these boards is just a single contract on the etherium network it's representing the boardroom structure and this can be used

to create a complex governance structure that can help in allocating funds holding membership and doing kind of very complex proposal systems so here we're just seeing a basic dashboard some details about the board the address the balance will go into proposals so actually before proposals let's go into membership so here is seeing just some members of the board and each member can only join through proposals so it's all proposal based and all needs to be through the democratic gateway of the board when we talk about proposals they're statically typed which means that you can't have a board member try

and cheat another by having a proposal that is does one thing but then kind of does another actually so here's just some types if you can see that you can see allocating funds from the board's budget adding and removing members selecting chairs subcommittees you're basically going to get everything you want out of a company structure simulated in a smart contract and within the boardroom UI and as well we're building boardroom to be completely extensible both in configuration hooks and also the proposals can outwardly talk to other contracts which creates a whole sort of unlimited amount of interesting use cases think about creating proposals that move tokens

around or equity think about complex voting structures that are based on tokens so this is the sort of bread and butter of boardroom and it all comes back to the one philosophy of just simulating a governance structure in a contract on athyrium so with each proposal you can see here there's just some various details proposals have a certain kind of structure that allows for sort of rigid a rigid data type just five different ones so here you can see just some proposals that have been executed so this is adding Erlich to the board this is sending funds from the board it's a very simple interface and we saw a little earlier that there was something like this I believe andreas

did something like this with tokens and boards I think a big thing about boardroom is that there's a lot of data to visualize with governance structures and contracts and so you really do need a dedicated you I to handle that and there's just a lot of information to kind of go through so between the 2 i'm just going to pop back to my presentation real fast because i'm apparently out of time so what ok we'll go right through that ok I will be quick so this is just some organizing innovation ok yes what's next for boardroom wave fun okay total world

domination yes so for wave funds we're going to have a lot more decentralized file storage integration or distributed file storage integration I PFS etc complex token controllers we're going to have a new UI and we're going to put that on the test net with boardroom we're going to into some really interesting custom voting structures dynamic membership middleware which is kind of outward extensible tech that will help bridge boardroom to other services new UI and then release that on the etherium test net here's just some new screenshots of the new UI which is seeing for the first time it's all cleaned up and nice and if you have any questions I'll be floating

around with this shirt on most likely and wow that started a little rigid but I think I kind of moved up a little bit as I went along thanks for bearing with me and I hope this kind of made sense and it was a little lighter today or with this so thank thanks guys