Times of change are upon us. The war in Ukraine, Israeli aggression, Chinese economic dominance and American weakness. Sands are shifting, institutions are crumbling and authoritarianism is rising. The world doesn’t seem to be adjusting to the world of the internet and the smartphone as well as the visionaries of the past 30 years had hoped. Still, the only way out is through – a way to leverage the internet and build a new society. Previous internet movements have been crippled by the insubstantiality of the social web. Incredible powers have been unleashed only to turn to dust when the viral wave washes back out to the electronic sea. Is there something that can be made more substantial? Something with lasting power?
The original goal of Bitcoin was to have private money that could be easily and deeply hidden. It was to be the backbone of a network that was deep underground. Away from the prying eyes of the surface states. Things have changed a lot since the early days, many not for the better. Although prices are sky high, the system is less private and more financialized than ever. You can buy Bitcoin EFTs with your retirement account but developers of protocol privacy are hounded and jailed[1]
The transaction throughput on the Bitcoin blockchain has stagnated over the past decade, but even with low usage, the network doesn’t die. That’s because Bitcoin incentivizes its own existence via the hashing mechanism called mining. Far from insubstantial, vast mining farms consume TWH of electricity defending the Bitcoin network. This is a real world effect that is entirely generated completely autonomously.
What if that sort of incentivization power could be directly applied to something greater than grinding hashes? What good could be done if that power was harnessed by users? The Causevest Network is our answer to these questions. The Causevest Protocol incentivizes
funds to flow to Causes at scale, sustainability. Transaction fees earned by the network are not only used for its protection but also redirected to Causes using on-chain mechanisms.
These Causes can be anything, ranging from development work for the network, content creators or people in need. They are chosen by Causevest Coin (XCV) holders in a continuous vote process with no need for structured proposals or grants. This mechanism, fundamental and unique to the Causevest Protocol, solves the major issue with other networks: funding something more complex than simple protection.
The Bitcoin market cap is several orders of magnitude larger than the total amount allocated to Bitcoin development. Even Ethereum - where many important voices make a point to fund public goods has no automated, sustainable mechanism for supporting its own development. Causevest alone is working towards a world where a Coin can not only fund its own defense but also its own development and additional Causes as well. That’s why Causevest matters.
The vision of the Causevest Network is a globe spanning network that billions use for transacting, funding, playing, investing, communicating and more. All of these interactions create a small affordable fee. These fees are aggregated and distributed, empowering a vast array of Causes who in turn empower the Network in a positive cycle.
We’ll go through why this is in another post ↩︎