GM DOers,
The world needs public goods.
I don’t think there’s any debate here.
Parks, clean air, open-source software, etc.
These are all shared resources that make our lives better.
But here’s the problem.
There’s limited revenue in public goods. So they are often massively underfunded.
But that’s all about to change thanks to blockchain, the mind of Vitalik Buterin and the team at Gitcoin.
Today we’re going to talk about:
- What are public goods and why do we need them?
- The web3 innovation flywheel needs open-source software
- How does Gitcoin funding work? WTF is Quadratic Funding?
- Gitcoin’s partnership with UNICEF
Say it with me… Public goods are just so damn good 😊
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What Are Public Goods and Why do we Need Them?
Public goods are goods or services that are non-excludable and non-rivalrous in nature.
Non-excludable means that it is difficult or impossible to exclude people from using the good, while non-rivalrous means that the consumption of the good by one person does not diminish the availability or quality of the good for others.
Examples of public goods include clean air, national defense, scientific research, and public parks.
These goods are often provided by governments or non-profit organizations because they are not typically profitable for private companies to produce and distribute.
Public goods are important because they provide benefits to society as a whole, and not just to individuals or specific groups.
However, because they are difficult to monetize and typically lack a direct revenue stream, public goods are often underfunded and can struggle to attract the resources they need to be successful.
This is where innovative funding mechanisms like Gitcoin can play a role by assisting the funding of important public goods.
At Web3 Academy, we’re massive fans of a particular public good… the blockchain.
Why?
Because it’s what allows us to 👀🔛⛓️ to determine which business models & technologies are winning in web3.
Oh, and we deliver our findings in a digestible report each Thursday at 9AM EST.
Wanna receive tomorrow’s report?
