Open Conversations: Sustainable Mechanisms for Public Goods (Artem Brazhnikov)

the general public [music] sees crypto and web tree mostly as a place to make money actually this is not what this is all [music] about so you can think about web 3 and crypto as an iceberg that part about making money is just [music] the top of the iceberg what actually is valuable is the underlying technology which [music] enables freedom decentralization and access to technology my name is artam I'm the head of engineering at Octon [music] Goen Foundation I have been working in the web three space for around six to seven years and the last two years I focused on the space to fund projects that that don't have [music] sustainable sources of funding what are the public goods the public goods are things that everybody can benefit from the examples of public goods in the real world are parks schools peace these are all examples of public goods that we benefit [music] from and sometimes we don't even notice because they are taken care [music] of usually they taken care of by governments but there are issues with that in web 3 in crypto there's a project [music] that create software that allow people to run blockchain and decentralized Technologies and usually those projects are just released as open source software meaning they don't have business models but in order for this community and for this ecosystem to exist somebody has to write [music] the code and actually businesses run on top of that software so this is very important to fund those projects recognize them and value them since we're living in a capitalistic Society the only way to bring money to this projects [music] is to tap into existing capital and to tap into the mechanisms that actually generate Revenue that's what we're doing with octant in the first iteration so we create this mechanism that generates sustainable stream of funding for those projects and this funding flows directly into the project [music] through the Democratic voting mechanism we decided to run accumulation rounds for [music] 3 months and then we have a two weeks window where the community members [music] the people who participate in octant they have right and choice to uh vote for different projects [music] and after that people can withdraw the funds and use that to [music] sustain themselves because projects that do not rely on sustainable funding and don't have a revenue stream they cannot survive [music] cuz right now we're living in a world where most of the world is motivated by profits [music] and this is definitely not sustainable long term [music]