We at The Respair Project recently held our first public meeting, bringing together our team and a small group to discuss decentralized support and funding for various social impact causes. On the Respair side participants included Karien Bezuidenhout, Helen King-Turvey, Sean Bonner, and Daniel Lombraña. We were joined by Esra’a & Achal who we invited to talk about their specific situations, as well as community members All City, Chic Bangs, and Phil Cockfield. The meeting provided a platform to address the challenges and potential solutions in funding non-profits across different geographical regions.
Starting with Achal, a significant portion of the discussion focused on the difficulties faced in funding non-profits in India due to government restrictions on sensitive issues such as mining and press freedom. The group highlighted the onerous reporting requirements and the difficulties of moving money across borders, especially in Brazil, India, and South Africa. Additionally, with first hand insight provided by Esra’a we discussed the challenges unbankable MENA organizations face, including blacklisting and fiscal sponsors taking large cuts, which often result in loss of funds and operational challenges due to sanctions and account freezes.
The conversation then turned to the complexities of using cryptocurrencies for funding, particularly the challenges posed by centralized exchanges who have the ability to shut down accounts. The group considered the idea of creating a "shadow" entity with safe legislation to operate effectively, ensuring a legally sufficient proxy that is verifiable. This approach would help navigate the legal and operational hurdles while providing quick adaptability and designing for edge cases to ensure inclusivity.
Throughout the meeting, the importance of understanding and accommodating diverse legal and operational contexts was emphasized. The participants stressed the necessity of developing a legal and financial structure that supports flexibility and quick adaptation, minimizing reporting requirements, and implementing effective risk-sharing mechanisms. We focused on the core idea of creating impactful, value-centered approaches rather than building rigid structures, avoiding high overhead costs, and assumptions that all contexts are similar.
In addition to these discussions, we recognized the emergence of four key themes to be explored in future meetings: The value of Specific Narrative/Case Studies, Trust, Operations, and Privacy. These themes will guide the ongoing development of The Respair Project, providing a framework for addressing the challenges identified in the initial meeting.
The Respair Project's first public meeting set a solid foundation for future discussions and collaborations. We committed to documenting the themes, sharing notes, and organizing new calls with participants as well as new guests and a wider group from the community. As the project evolves, these themes will be further examined to create innovative and effective solutions for decentralized support and funding of social impact causes. Stay tuned for more updates as The Respair Project continues to grow.