The Biggest Web3 Opportunity That No One Is Talking About Griff Green

so today i'm going to talk about what in my opinion is the biggest web 3 opportunity that no one is talking about this is uh i've been in the space for a long time i've been diving into this game since 2013 and uh in i actually have the first degree ever in digital currencies this is in 2016 and then a week before that my project which was called the dao which raised 14 of all ether in existence got hacked and so i i've learned through academia and i've learned through real life and i'm here to talk about and so i've seen a lot of web 3 opportunities and i'm telling you this one is way overlooked the opportunity is huge 10.5 trillion dollars in spending in the u.s alone that's trillion with a t as in five times the total market cap of crypto and it's growing it's only going up number go up spending go up so much this is huge and yet no one talks about it no one even thinks that this is something that's here there's literally no competition in the space nobody is making money in here in this space there's 10.5 trillion dollars and every organization that's participating is losing money does anyone know what the space sector is does anyone have any uh uh seriously you got any ideas close close it's broader than that public goods who said that who said that ronald livia oh she knows public goods this is this is the biggest opportunity in web 3. and everyone thinks there's no money in public goods and yet 10.

5 trillion dollars is spent every year by the federal governments the state governments the local governments and u.s nonprofits this is huge and the competition is weak like in the nonprofit space they're literally begging for money and then they ask for discounts and then they pay don't pay volunteers and web3 has the opportunity to change that there's 500 billion i don't think we're going to start you know support being supported by governments too soon colorado's pretty forward thinking but we still it's going to take some time but nonprofits are such an easy opportunity to disrupt that whole sector and fi oh nearly 500 billion dollars in the us is donated every year and spent on trying to solve problems in the most inefficient way possible sorry come on i talked about this a lot yesterday in my talk on this stage if you didn't see it i'm going to kind of zoom through some of the topics but i think it gives a really good background for what i want to say here it was called creating shelling points for public goods via micro economies a lot to unpack but i think it's a really good baseline basically i talked about how scarcity economics is the economics that we know and we put money into right because it's really simple you can anything that you can put a price on scarcity economics works really well because you're excluding people from participating and when you exclude people from the value you're creating you create customers so scarcity economics has this really nice value flow where anyone who produces value is rewarded for the value they produce because there's an end user who sees an uh who sees a value in it as an individual and they're willing to pay for it but in abundance economics you have this tragedy of the commons right you have you're in abundance economics this is where we provide value for society when there's fish in a bay and we want to keep it abundant we build systems to protect the fish in the bay and this is abundance economics this is how we maintain abundance for society and in this sector in this side this is half of the value in society is in the abundance economic sector and it's managed by non-profits and governments governments have a pretty weak incentive system but it works right they say give me money or i'll steal your house that's a good way to get money in in the sick in the sector it works great but it has really slow feedback cycles right if you want to innovate or change things then well you you vote once a year or something like that maybe you can lobby if you have a lot of money it's a really weak system for rapid feedback and innovation we don't have innovation in the public good space right now and non-profits even worse they are basically just begging for money and requires sacrifice all the way around if we do nothing though i mean right now the world is on fire there's so many problems we have so much opportunity for individual luxury you you can go buy a yacht you can get a cell phone in your hand it's amazing we coordinate to build cell phones computers and all these complex solutions for individual wants and needs because profit acts as a shelling point to bring everyone together but in the public goods sector we're running uphill we're swimming upstream everything is sacrificed all the way down and we have an opportunity in the web 3 space to change that we can build a third way besides governments and non-profits i call this third way the re uh oh man i keep pointing at that screen i call this third way regen economies region economies are mission driven economic systems that reward the production and distribution of abundant goods and services to satisfy collective wants and needs and we're already doing it it's incredible get coin of course is probably the the biggest one shout out to kevin and everyone in get coin you guys are killing it i would argue get coin is the largest regen economy in the space that's mission driven they want to build and fund digital public goods and they're doing a great job if you want to support digital public goods you can donate on open open collective or on git coin or on giveth or you could just buy gtc which sounds more attractive would you would you maybe you donate a hundred dollars but you probably buy thousands of dollars of gtc because there's upside the tec is advancing token engineering their market cap is six million dollars they're literally on the forefront of one of the biggest nascent fields of study in our time and their market cap is six million dollars they're advancing token engineering you could donate to to them and you could just burn your money and and do good work or you could just buy tec and have upside panvala is incredible they have a two-day conference over here they're adding so much value to the web3 community bringing everybody together market cap 3.4 million dollars they're making so much more value than that we're sitting in the church of sporkdale right now 2.3 million dollar market cap are you kidding me how much money is going to be rippled out of the value that's being created today a free conference for anyone to attend and get into crypto so many startups are going to start today because of their work bright id is creating one person one vote opportunities ubi can evolve out of this 2.1 million dollar market cap where who what this doesn't make any sense giveth is rewarding empowering those who give this is obviously where i'm going to spend most of my time talking our market cap is 4.

6 million dollars i mean we have the opportunity to bring the metaspace into into meat space we can the goal of giveth is to is to actually spin out thousands of micro economies and we're going to do it uh our our a lot of our wisdom comes from great people like eleanor ostrom i i say this quote almost every talk and every time it makes me want to cry because it's so real the wisdom to solve our problems is there it's in the non-profit space people have been working for decades to solve these problems but they have no feedback mechanisms they have no way to say what they really should do they're just begging for money and the people with money get to decide they get to say no no no just give them blankets just give the homeless people blankets that's what they need that's not what they need they need help they need purpose they need they need so much more than that they're homeless because they don't want to live in a home like let's help them in other ways let's innovate i can't even remember if i read this quote i'm going to try there is no reason to believe that bureaucrats politician nor the technocracy i added that part no matter how well meaning are better at solving problems than the people on the spot who have the strongest incentive to get the solution right the wisdom is on the ground already and giveth hopes to unlock that we're going to start by building the best donation platform in the world this is the way to bring that wisdom into the web three space and we've done it and i you know it's hard to say that uh in colorado get coin is incredible of course but they they only do donation rounds like four times a year and you know it's mostly focused on digital public goods we want to focus on actual on-the-ground non-profits get coins excelled so we don't have to we're focused on real nonprofits that do work in meat space and what we've done is nothing short of incredible this is why i can objectively say it's the best donation platform in the world a hundred percent of the donations go to the non-profit and we pay you to donate i mean what more do you want like you can't do you can't beat that any anytime you donate to a verified nonprofit on on giveth we give givebacks give backs come in the form of give tokens so right now if you donate a thousand dollars to get coins matching pool right oops this one uh oh no that way if you donate a thousand dollars to get coin matching pool you could donate to them directly but also of course we're cooperating because that's the way it works in abundance economics you can donate to get coin matching bitcoin grants matching pool on giveth you donate a thousand dollars we give you back eighty dollars and give tokens right now and it'll grow as well and liquid give tokens it's for subsidizing your donation and on top of that you get a stream a nice fat stream actually and if give tokens price goes up you can actually make money by donating there's upside to donations in the first time in our history this is what give backs gives us give backs is the way that we decentralize that we exit to our community we want to be an organization run by donors we do not think every non-profit should be run by donors but for our donation platform it makes a lot of sense and this is just the first step this is what we launched with at christmas but uh we're this is only the beginning of a very complex a relatively complex road map oops the next step is give power ah give power is all about giving powers to the giving power to the donors on our platform we want right now we have a verification process which i think is super cool this is one of the coolest things about give backs we you don't have to be a 501c3 to give your donors a subsidy if you want any and your donors they don't have to be paying taxes in the u.s to receive that subsidy on giveth we don't care what your legal entity is or if you have one like for instance there's a great group here in denver called mutual aid mondays they're on giveth they don't have a legal entity they can receive donations and their donors get a subsidy and just like tax deductions but uh now with that what what we really want to move towards is a win-win opportunity a win-win mindset in the nonprofit sector people right now expect to beg for money in the nonprofit space so change that we created give power when people now with give power give token holders can stake their tokens behind non-profits uh like mutual aid mondays mutual aid mondays is uh every monday they go out and they help the homeless in various ways mostly driven by homeless people themselves so with give power if you want to help the homeless in denver you can actually you donate to them and then you get give tokens and now with those give tokens you can actually stake those give tokens behind mutual aid mondays and now if what we want to do is we want to create a virtuous cycle where when people succeed on the platform we pull them forward to the next step our goal is to spin out dows not more nonprofits more dows that are achieving these goals so when if mutual aid mondays gets a lot of give token stake behind them we're going to take them to the next step we're going to say hey how about you start out a reputation system what if we can create and gamify the contributions that people are doing in mutual aid mondays so this is a great opportunity to give out a non-financial reputation token so that they can start becoming a dow and start gamifying their contributions so now this is an easy way for people to onboard into crypto web 3 low risk they're not going to lose their money because there's no money it's a non-transferable reputation token and once they get that rolled out they can actually start raising they can start controlling their donations with their dao so instead of the donations on giveth going into the you know some key that one person controls now those donations go into a dow that is controlled by token holders and those token holders are the people who are actually contributing on the ground making the change now once they have that running and of course this is going to take time for us to spin out but once they have that running this is where it gets really exciting we call it girvs i blame willy sorry about that uh but curves curves girls girls is the is the is just the beginning for the non-profit but it's the end of the giveth road map given the road map has lots of cool things i'm not mentioning but girvs is really the goal at least for me girvs is all about trying to create a system where p they have their own economy once once the dow actually has a reputation system once the non-profit once let's say mutual aid monday mutually mondays has actually distributed tokens they're managing their they know how to dow now we can start throwing money into the mix because they already kind of figured out how to manage their donations with their reputation dial so now we can bring it to making their own economic system and we do this with girvs and with give power so let's say that mutual aid mondays has 200k staked behind their project uh via give power right so i'm not going to explain bonding curves a curve is basically a given a bonding curve with give tokens as collateral so in bonding curves the only thing i'm going to explain is the reserve ratio i'm choosing a reserve ratio of 20 because that's what the tec chose for their dow and i like token engineers opinions so if mutual aid mondays use the 20 reserve ratio then their market cap would be 1 million this is because the reserve ratio is literally just the the ratio between collateral divided by market cap and this is like a law of the economic system of a bonding curve economy so we can use 200k of give token collateral to create a hundred million sorry a one million dollar market cap mutual aid monday's token now this sounds like kind of weird right but it's so critical first of course all of these tokens need to be vested they can't be sold right away but once this and then that money gets to be split between the dow so they can collectively govern their treasury the dow members who have a reputation we can airdrop to the people who have actually been contributing to mutual aid mondays and the give stackers the people who put up the collateral in the first place it's really important that we're always recognizing labor contributions expertise contribution and capital contributions endows and economic systems and we do this with girvs and now when they have a curve give backs uh the give tokens when people donate right they get give backs on giveth so when now when they donate those a portion of those give backs will actually go into the curve and create mutual aid monday tokens and go to the donors this turns donors into stakeholders volunteers into stakeholders and and everyone who contributes they have a voice they get to say how this evolves the biggest thing it creates is opportunity it creates an entrepreneurial opportunity people have skin in the game and they have upside now they can innovate they see if you know home like i said before talking to people my friend olivia who actually called out public goods she said you know most homeless people actually want to live on the street they don't they don't want the solutions we're offering them and people on the ground know that what if they innovated and they said hey let's let's give them the people the homeless people in denver purpose and let's let's give them let's create them a public safety dow that goes alongside mutual aid mondays and that dow actually trains people to become uh stewards of the public safety kind of doing the work that police should do the homeless people are on the street maybe they just if they could have purpose maybe this would help right and let's say that the mutual aid mondays wins with that all of a sudden the homeless population they're still homeless but is that really the problem right now they're happy now they feel good they have dignity they have they have purpose and they're protecting the streets of denver and this if this succeeds in denver then they can spin it out in in colorado springs they can bring it to boulder they can bring it to university of wyoming seattle san francisco and the people who are on the ground at mutual aid mondays they can actually make a lot of money they actually got early in a startup that that was helping the homeless and they grew and succeeded and as they succeeded they made money how crazy is that this is what we need this can create entrepreneurial opportunities in the public good space that's never been seen and with giveth we hope to scale this out to thousands of micro economies that will that will all be innovating in the public good sector in ways that we can't even imagine this opportunity is huge 10.5 trillion dollars in the us alone 10.5 trillion dollars five times the market cap of crypto in the us alone there's huge opportunity in this space and and i hope that you guys can join us if you want to be part of this heather is sitting right here she's hiring for giveth general magic yeah give her a round of applause she's a hero she saves me so much thank you heather and i also want to thank lauren and rodri and algin who helped me make these slides so beautiful and of course all the organizers in denver thank you so much for listening and please help us make the world a better place