The internet is great at two things: breaking down big ideas into smaller topics and matching people. Adam and Chandler ask, can we solve Global Goal – sized problems with the internet? On this episode, we find out how DoGood.io can do just that.
Episode Summary
- 7:00 The 4 Keys to Solving a Massive Problem Adam tells us how DoGood.io integrates scoping problems, staffing teams, funding and executing projects within the platform.
- 18:30 How does Blockchain fit in? Adam explains simply how the DoGood token works, how it incentivizes people to solve big problems, and how their own ICO gives value to the tokens.
- 23:00 No, You Can’t Buy Lambos from an ICO Raise Here, Adam and Chandler talk about a critical accountability gap in the ICO model. The DoGood platform addresses this problem simply.
- 31:00 | How can Blockchain forward the Global Goals? Most people think of the currency side of blockchain technology. Adam and Chandler show how much more is possible in tackling the Global Goals with blockchain, from accountability to supply chain honesty.
Listen to this episode if you’re wondering how on earth you can make a difference in a global-sized problem, and how you can use blockchain and the DoGood.io platform to do it.
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Full Post
After hearing a Ted Talk about why Ted Talks are bad, DoGood founder Adam Harriss realized something powerful. There are no simple solutions to global problems. He says, “They’re presenting a solution to these problems in a 10-minute time frame. Which you can’t do. But the audience is left with a placebo.”
He started to think about how to pull solutions together in a way that addresses the complexity of these Global Goal sized problems.
“One group is not going to be able to solve these problems, and nobodyhas them tackled. In order to solve them you need a wide array of individuals, types of knowledge and funding to solve these problems.”
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The Ultimate People-Problem Matchmaker
Adam realized, “When I looked at what it takes to solve a problem and innovate, I found that there are several steps that the internet is perfect for solving.”
1. Scope the problem
To start to tackle a large problem, it must be simplified into manageable smaller priorities. DoGood helps participants scope the problem and break it down into its smaller components until you find the part that can be addressed by a team.
“The internet has been great at breaking things into taxonomies. That’s the bread and butter of the internet – being able to show how these things are linked.”
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DoGood asks the right questions to get to the root of the problem: what’s the root cause? How can we break it down visually?
2. Staff Against the Problems
Second, solving big problems requires a marketplace to match people and staff a team around the smaller problems. DoGood assigns people to project teams to create tangible solutions.
3. Funding
Third, teams require funding to solve problems. “We have built crowdfunding into the platform, and we’d like to partner with investor platforms as well,” says Adam.
4. Method to execute
Finally, a funded team needs a project management system and an effective strategy to find out if their solution is viable and sustainable. Based on the lean startup model, Adam recommended the following steps to go to market:
- Create an MVP (minimum viable product).
- Test your assumptions about the needs and the problem in a business model.
- Find a positive signal from your tests, and then build onto that first workable component.
- Create a business model canvas and kanban charts to create an ongoing method for execution.
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Accountability to Solve Problems Effectively
“We believe ICOs will be a method of fundraising that could be a huge factor in solving these [global] problems…but there needs to be transparency.”
Adam talks about the lean startup system as a great way to maintain accountability. Funders need to know two main things as a project rpgresses:
- How is the team progressing, are they succeeding?
- Should I continue to fund?
The lean startup system provides that information. It creates a feedback loop and conversation, “so that positive change can be made and money is used in an efficient manner.”
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How Does Blockchain Fit In?
There are 2 main ways Blockchain supports the golas of the DoGood platform.
1. Incentivise and Reward
First, there is an incentive system within the platform, which is a blockchain token. DoGood uses Etherium as part of the incentive system. People earn tokens by contributing to the “Wikipedia” of problems and solutions. So, if you have specialized skills you can get on the platform and get paid to explain part of a bigger problem.
DoGood assigns a value to the tokens through their ICO.
Also, curators can offer a bounty. A curator would say, “‘If you solve this problem, you will earn the pool of funds that have been set against the problem.’ Curators promote the problems and raise funds for the bounty.” The curators also get awarded with a percentage of the funds they raise.
2. Mitigate the ICO transparency problem
In ICO raises, investors need to be protected. By giving investment funds to teams in stages as they reach their goals, DoGood ensures that social and ecological problems are being solved efficiently. It works in 3 steps:
- ICOs are differentiated by being protected by an escrow system.
- Teams take 20% of the overall investment to prove their problem-solving business model, then investors can vote on whether the next round should be invested.
- If investors vote no 3 times, the remaining investment goes back to the investors and the token is returned to the cryptocurrency.
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How is Blockchain Applicable to the Global Goals?
Adam and Chandler list the main applications of blockchain in accomplishing the UN Global Goals:
- Creating fundraising transparency and trustworthiness
- Eliminating cheating and corruption
- Identifying reliable projects and team members
- Breaking down large goals, like “life on land” down into smaller problems and then applying blockchain technology to solve those problems.
Chandler then gives a supply chain example. Imagine “you can buy a fish and know where it came from.” Then, companies will be able to solve supply chain problems and increase sustainable practices throughout their operations.
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The DoGood Business Model
DoGood is a SASS model, or software as a service. It is free to use for anyone who wants to contribute solutions and problems, and when you want to retain IP you pay to use the platform. Also, “When you have a team, you can use the platform to manage your team with the lean startup system, use our project management system, and leverage mentorship. That’s paid.”
Adam talks about their most critical needs currently, and highlights “more people and more problem-solving.” He says DoGood’s first target to bring onto the platform are those interested in building sustainable businesses and crypto investors.
Takeaways
Chandler talks about the main takeaways with respect to the Global Goals.
1. How many problems do the Global Goals actually break down to?
There are 17 problems with more than 250 targets per problem. Each of those targets can be broken down into smaller priorities that a team could take on.
“It will take specialists in every 250 target to solve these microproblems. So, what background and unique knowledge do you have?”
2. There’s an incredible potential for accountability with DoGood and Blockchain.
Chandler asks, what becomes possible when we’re holding ICOs accountable to meet their goals, and unlocking funding as their teams hit the goals?
Listen to this podcast to find out exactly how Adam Harriss and DoGood.io have created breakthrough solutions to these questions to accomplish the UN Global Goals.
