Closed benedictvscriticus closed 1 year ago
stacks-foundation
commented
1 year ago 👋 @benedictvscriticus Thanks for your application! We will do a pre-review and let you know if we have any immediate questions. In the mean time please refer to our review schedule here for a detailed timeline and response dates. Best, Will
will-corcoran
commented
1 year ago Hi @benedictvscriticus -
Very interesting application. Thanks for submitting! CBDCs are pretty scary and it would be nice to see a comprehensive comparison of the pilot programs. Curious if you could comment as to how/if this work aligns with the current grant priorities and/or uniquely benefits the Stacks community (rather than all humans).
Thanks! Will
benedictvscriticus
commented
1 year ago Hi @will-at-stacks! Thank you for reaching out and giving me the chance to elaborate on the positive impact of my project on the Stacks community specifically. My work will be drawing from Stacks 2.1. Hence, I am assuming this proposal to fall under the first priority because it includes proposing Stacks as an alternative to CBDC.
Under Stacks 2.1 and with ‘Coinbase pay-to-anyone’ it is now possible that mined Stacks returns faster to the ecosystem, which enables broader participation in a monetary community. Stacks NFTs allow individuals to spend Stacks on consumer goods. Enlarging a monetary community and creating consumer goods, make the case for Stacks to be an interesting approach for contrasting governmental CBDC pilots.
Monetary theory and the reality of the Bitcoin standard have highlighted that money, even CBDC, only become money when they are used and accepted by a monetary community. While Bitcoin provides a reliable layer of trust and value, it lacks functionalities for being used as medium of exchange. Stacks not only fulfils the requirements for providing a medium of exchange infrastructure of programmability, rather it is designed for building consensus through proof-of-transfer (PoX). Therefore, we have to start including Stacks 2.1 in the discourse, where research may allow arguing for Stacks to be an ethical alternative to CBDC.
Through contrasting a comparative study of CBDC pilots against Stacks and its latest technological functionalities, I can raise awareness and create relevance for Stacks in a critical societal discussion on electronic media of exchange. Hence, framing Stacks as an alternative to CBDC in an academic and neutral discussion will increase the pull of the ecosystem, as well as its sustainable growth.
Scarlett-Web3
commented
1 year ago I think you have an interesting project. If you haven't already gone through the Stacks Web3 Startup Lab, I would like to invite you to apply. Here's a 5-minute read on how we can help you turn your startup idea into an investment-ready startup: www.web3startuplab.io
If you are interested, you can apply through the "Apply Now" button.
Feel free to ping me on email: scarlett@stacks.ac
will-corcoran
commented
1 year ago Hello @benedictvscriticus
Thank you for the application and for your patience with the grant review process. We did a thorough review of all of the applications (each application received an average of 6 reviews from members of the Grants Review Committee). However, after much consideration, we decided not to fund any of the Cohort 19 grant applications as we did not feel they aligned with critical priorities core to the development of the Stacks blockchain.
We invite you to please read this blog post we authored to help elaborate on the reasoning behind this decision and clarify the current mission of the Grants Program.
Thanks in advance, Will Stacks Foundation Grants Program Manager
APPLICANT
Type: Direct Application
Email: bb@acurraent.com
Discord: benedictvs#1769
Twitter: ben_criticus
Stacks Forum: benedictvscriticus
GRANT BASICS
Grant Name: CBDC pilots compared
Total Budget: 9,000
Total Duration: 180
Grant Type: Stacks Education Grant
Grant Track: Stacks Education & Community
Grant Goal: Integrate Between Technologies
Grant Audience: Developers
Specific Audience: Academic infrastructure developers for CBDCs
Grant Team: benedictvscriticus
Previous Grants:
Ecosystem Programs:
GRANT MISSION, IMPACT, RISKS & REFERENCE
Grant Mission: The shift to electronic money and virtual assets must be contextualised within the tech- nological change in the transmission of value and its political underpinnings. Along with technology-driven financial services offered by corporations like Paypal, also known as Fintech, DLT or blockchain technology emerged from the niche of libertarian online communities during the 2008 financial crisis. These events not only changed the macroeconomic paradigm for central banks, but also the behaviour of citizens these institutions serve.
Through its improvement of the Bitcoin technology, Stacks is uniquely positioned to influence the development of responsible CBDC, however, Stacks can only be successful if its community understands the requirements of central banks for participants in CBDC pilots. Thus, this research brigades the gap between Stacks' rootedness in Web3 and new opportunities in the governmental sector, which require cultural change.
Grant Impact: After completion, the impact of this grant can be measured on two levels. Firstly, a successful and relevant study will be included in conference proceeding. Secondly, when the results are included in a journal, citations and the impact factor of the journal are key performance indicators.
Grant Risks: The governmental nature of CBDC pilots may render some information classified or unavailable to the public. If freely available documents do not suffice to answer the research question, more information can be obtained through freedom of information enquiries.
Support Link: This Github repository contains the results of previous research, which led to the formulation of the study, which is requested to be funded. Outputs from that research were presented at and included in the proceedings of the 18th ISISA Conference in Zadar in 2022.
GRANT ROADMAP & DELIVERABLES
FINAL DELIVERABLE
Deliverable: A conference-eligible mixed-method study on patterns of action in CBDC pilots