Virtual cooperation of Curaçao’s young tech entrepreneurs.

CuraDAO evaluates pilot project

CuraDAO is an organization that was established in Curaçao in 2019 and started as an experiment of a group of young tech entrepreneurs. During a conference the organizers discussed what CuraDAO is all about and what they have accomplished during their pilot phase.

CuraDao is an online platform that allows organizations and persons to submit proposals for funding of projects. It has members. Those with voting power are allowed to vote on the funding requests. If passed the funds are transferred to the requester.

What differentiates CuraDao from common processes used by foundations is the fact that this is a virtual organization represented by rules programmed in a computer that is distributed, shared, transparent and called a Decentralized Autonomous Organization (DAO). All the funds are crypto currencies and the transaction records are maintained on a blockchain.

 

A DAO is still largely a process in the making. It is effectively a business that uses an interconnected web to automate its processes. One of the organizations that received funding from CuraDao is Youth for Climate Curaçao, a group of teens working to educate the youth of Curaçao on pollution and climate change. They submitted a proposal and received USD 250 (equivalent to 1.8 Ethereum) to buy gloves, bags, jugs, and other materials to organize a big year’s end cleanup at one of the local beaches in Curaçao.

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