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How to reduce ocean pollution with DAO and ReFi : The PIPE gDAO podcast episode 2
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How to reduce ocean pollution with DAO and ReFi
Tired of the plastic crisis polluting our oceans? Join Noodle and Sleezy on Pipe DAO as they explore innovative solutions to combat this global issue. Discover how decentralized autonomous organizations (DAOs) and regenerative finance (ReFi) can revolutionize ocean cleanup efforts.
In this episode, we dive deep into the Ocean Cleanup project, a pioneering initiative using advanced technology to remove plastic waste from the world's oceans. Learn about their ground breaking innovations, challenges faced, and the potential impact of their work.
We also discuss the role of DAOs and smart contracts in funding and managing ocean cleanup projects. Explore how these decentralized tools can ensure transparency, accountability, and community-driven decision-making.
Transcript
00:00:00
Speaker
Welcome to another episode of pipe jidao, where in this episode we are going to be trash talking each other. Ocean trash talking. This is... ah I'll allow it. Sometimes jokes land, or maybe not, but just being charitable.
00:00:21
Speaker
In this blog, we are discussing DAOs and refis and how to help reduce ocean pollution. How to reduce ocean pollution with DAO and to refi. And it is Noodle's blog. It is, yes. It was the first blog I ever um but i ever wrote. Yeah. Yeah. And I have an as inspiration to also sometimes read a blog, ah write a blog. Read Yeah, write a blog. Someday I will read a blog. Someday I will read one, yeah.
00:00:51
Speaker
Yeah, I'm working on it. And I would you like to hear more bad jokes. We are talking about climate change here. And climate change is quite a hot topic. Well done. Thank you. It is clever. It is clever. We need like a big chair or something in the background. Yeah.
00:01:15
Speaker
Yeah, yeah. And I got another one. It's ah it's a hot the hot topic of the conversation is changing us often as the climb. Maybe not for you, though. No, yeah, no, you've lost me. You got the bloody rain. right they it did I hope blood rain is a real thing, but we'll talk about this off camera, apparently. We'll discuss this later.
00:01:42
Speaker
Yeah, maybe in certain situations you can have a rain of blood, but yeah. Oh yeah, ma man I guess so. And one of the important conversations to be had about ah climate change is a ah how to combat the plastic pollution. We have ah air pollution, we have water pollution, and one of the types of water pollution is plastic pollution. There is just too much of it.
00:02:05
Speaker
And while it might not touch you directly, ah although it can if you are concerned with microplastics. ah And we are here in ah ah in the sector of regenerative finance. We have a link over in our blog on what it means. But essentially, we do the finance part of stuff. So we do want to make some money. But we also focus on actually making an impact, what's called impact investing. So we are trying to have a positive impact on the world, whether it be environment or economics or the life of average but of the average person and stuff like this. And the the topic of this particular block is to reduce ocean pollution.
00:02:51
Speaker
And next, we have this big text on the block saying that there's something like really important. And one of them is, ah the normally, those organizations are being led by ah government sector. And that creates a lot of issue with the trust. ah You could say we have um trust issues. We're going to work on those trust issues then.
00:03:16
Speaker
And the when in fact, my end of ah my bachelor's project was a charity website to do with Web3. That's quite an interesting coincidence. Essentially, normal normally, if you want to launder money, you sell the charity. It's pretty much is the classic. Have you come across this?
00:03:38
Speaker
come across what, laundering money or charities? Yeah, the the the topic of ah how how to avoid corruption. Well, um when it when it comes across to charity work, no, not really. I think if we're talking about it from like a ah DAO perspective, because obviously we're here to talk about climate change and how DAOs and REFI can change that. If we're talking from a DAO perspective, then I don't think it's very corruptible because the entire system is based on the ah um sort of the idea of a vote, if that makes sense, because DAOs are run by smart contracts which already have their rules embedded in the code. um So it's not something where you could like cheat the system really. Say if you all invest and you all get a token to that specific DAO, your token is just as valid as the next person's. so you all get the idea of you all get a vote of what to do with your money so it's not like you're investing and then the company will take it um because that's just not how doubts work um that's ah that's actually defined by fungible token fungible token means that it's the same as any other token of the same kind exactly you know how we have nft these so non-fungible tokens so for example you could have a dog dog a dog is not a token but it's non-fungible uh you can't just exchange two
00:05:05
Speaker
two similar-looking dogs because they they are different dogs. You can't compare dogs. They are not equivalent to each other, maybe in some sense, but not really, not to owners and at least. And then there's like a token that's a fungible dog. I can give you a pound, you can give me a pound, and then they're essentially the same thing. It doesn't matter. Nothing happened then.
00:05:25
Speaker
That's essentially how it works. And then, of course, how DAO works is a whole topic of its own. But we can say that ah it is when you invest, whether it be you could could invest your own spare change into it, or you could invest your time and effort into it, and you could get rewarded with the DAO tokens.
00:05:46
Speaker
All of them are equivalent, as Noodle said, so you and you can have, using that, the government's rights. First of all, you have transparency. Exactly. That's how you can see what's happening and where all the funds are going. and Second, depending on the DAO, you can have either complete government's rights or limited government's rights, or no government's rights, but that wouldn't be a DAO, I guess then.
00:06:12
Speaker
No, not really. like for For instance, we as a company decided very early on that if we douse on our system and these sort of funds and the these big but pockets of money that could potentially be run on the launch pad,
00:06:28
Speaker
we've made sure that we as a company are very out of that process, if that makes sense. For instance, um the pot of money, there will be a vote for who sort of runs the Dow and chooses, say if um say if there wants to be, people want to use the pot of money they've donated into a ocean cleanup Dow and they want to use it to donate to this specific charity.
00:06:58
Speaker
the person that is overlooking the Dow, their power will be to initiate the vote, if that makes sense. Oh, we have to ah say this. If you're concerned about the legal side of things and we got you covered, we have awesome lawyers on our side. We have fantastic lawyers that we haven't met and don't know, but that we know they're out there somewhere. Big old Harvey Spexer and i I promise I didn't get it wrong this time.
00:07:28
Speaker
And you know what? If you join our DAO, you could meet the lawyers even before us. Yeah, you could you could get a nice little email from them maybe, but... And that email has nothing to do with ah suing you or anything else. And I don't know, because that's how we usually associate lawyers. But no, no, no, our lawyers are awesome. Very cool. It's not that he just says that he's working for you, but then actually it does everything his own way. I don't know. We actually have awesome lawyers whom we don't know, but they're awesome. and they they We're sure they're very cool. Anyway, shall we?
00:08:03
Speaker
talk about more about this ocean cleanup and how the dow that we've just been talking about could potentially fit into the idea of an sort of an ah an ocean cleanup dow. But you don't want to talk about Dolores anymore? I'm disappointed. Hey, listen, they haven't answered us back. All right, I'm adamant. right They don't get any consolation from us or any consideration. We've been texting them. We've been trying to find. I don't think we've got them.
00:08:32
Speaker
Apparently there's an accountant as well, but I've met him. He's a lovely guy. Oh, okay. Should we praise them? I know they're good with numbers, you know.
00:08:44
Speaker
Yeah. And so one of the good examples how we could come up, ah how we could lead our own ocean, though, is ah ocean cleanup. It's a very if i were a good so case study for us to um study because my English vocabulary is not that good.
00:09:06
Speaker
ah what It was it was ah created actually by a 19-year-old, he will yeah at least he was 19-year-old at the time, a Dutch called Boyan Slat. Yes. No need to reason to that name any more than you have to. All I'm saying is there's this there was a Stoke footballer that was also named Boyan, always in Baujan, but I'm just saying, I'm just throwing that out there. Stoke City football. There are many ways to pronounce it. Maybe he's Boyan.
00:09:36
Speaker
because when you throw him into the ocean, he actually is buoyant, like the like plastic. Or like everyone else, really. I don't know. when i hear like i'm I'm thinking. ah you bet Are you a bit of a rock in a pool?
00:09:49
Speaker
yeah that actually doesn't surprise me i don't know i don't know why i was when i spoke to you i was like this guy can't swim there's nowhere yeah i tried to like stay in a float but my head just s sinks oh i knew it i knew it oh anyway sorry yes even though i'm a slime Slimes are supposed to float. They are supposed to float. So should we say, should we say there's a couple of people and they want to clean up the ocean? Maybe not even a couple, maybe just one and they do research and they find Boyan Slats company, the ocean cleanup crew. No, they would be able on our, sorry, on our system,
00:10:31
Speaker
which is run run on DAOs, which are controlled by smart contracts, ah which are contracts where terms and conditions are written directly into the code, meaning they'll be enforced, establishing rules, essentially.
00:10:44
Speaker
um They can create a fund, a DAO fund, that they can use, which they'll get a token, they can then use their token to vote and donate to the ocean cleanup crew. This isn't something that is new, this is something web free has already been used in the fight against ah litter in the ocean. ah For example, there's the Earth Fund, which is a climate-conscious DOW, which focuses on climate conservation. It adopts web-free technology and blockchain to achieve their goal. um It will work in a similar sort of way. So for instance, to join the Earth Fund, you will have to purchase one Earth token and have an input on how the money is invested to solve the problem.
00:11:33
Speaker
um That's essentially exactly the same here. you You'll put in money, not to the Ocean Dow yet, but to the, not to Ocean Cleanup, sorry, but to the Ocean Dow. You will then get your token and that token will allow you to vote on what the big pot of money fund will be used for. We've just in this scenario said that they'll be donating towards the Ocean Cleanup group because we did some research and we actually really like them. They look really cool. then they s music ah Yeah, they do. And they could really use some of the technology that we are having over on our side. For example, one of the um
00:12:13
Speaker
One of the the features is that they have a list of um donors, the don't donators, well, people who donate it to their cause. And this looks a lot like what we do in web3. We have a list of everyone who donated, contributed, we usually like to call them contributors rather than donators, ah because they actually do get something out of it. It's not just charity in web3 and in our DAOs, they actually get a little bit of the profit.
00:12:43
Speaker
which is hopefully going to be more than they invested into it. We we as all Web3 projects are aiming towards that and as well as providing impact to the overall thing. That is one thing, that is ah having a list and transparency of a the how the money is moving.
00:13:04
Speaker
um They are having regular YouTube videos, like almost every week, every couple of weeks, where they give quite a good content to everyone. That is also very similar to how Web3 operates. ah They have something else, but I forgot about the third one.
00:13:23
Speaker
And so would I guess all we're trying to say is the systems are already there. And for instance, with with dowels and web free, the potential for them is proper possibly limitless because the ocean cleanup is completely based off of or is completely run by donations because it's not a government funded project it's not a it's completely privately funded uh it's a non-profit as well they don't really make any profit on the stuff that they do so it's completely run on donations and those donations include
00:13:57
Speaker
building the ships, building the netting, ah paying for wages, so many other things which could be very like run down for instance to paying wages you can have a DAO which will just automatically send the money over bi-monthly, bi-weekly even two people as their wages because it's all run on a smart contract. So if that's put in the rules of the DAO saying send money on these dates, this amount to these people, the DAO will just automatically do that for you. um It's a really good way of actually paying employees and that's potentially something that could be adopted for other companies in the future, a DAO run payment scheme.
00:14:43
Speaker
And in fact, there's one more parallel I would like to make between Web3 and this kind of work. Normally, charities operate on government funding. And obviously, they don't work for free. But in Web3, a lot of people actually do work for free. They work their normal regular job to survive. And then they work for free on their Web3 project. That's actually a lot of people who do that, and not because not Or at least not always because they're hoping for future profit because it's highly risky in web3. But because a lot of the times, one, they like it. That is one of the biggest factors in all activities. And two, because they see the future in not necessarily in the profit that they're going to make, but in the activity that they're trying to pursue.
00:15:29
Speaker
And that's similar here. And just like the Earth font is investing into several projects, if you go to their website, you're going to see protecting 30% of the planet by 2030 by ah something about natural resources, satellites to track the waste, um something about communities of color in the US, electric buses. that's I have never actually heard of electric buses, but I guess that's a thing.
00:15:58
Speaker
And just like they invest in many different projects. Electric buses, sorry, those electric buses are, with they theyre they're here. They're in London. We've got electric buses in London. Are they also red? They are. they're They're the big red double deckers, but they're electric now because ah because obviously they're always running and the fumes and stuff. But yeah, we got there's there's like a couple in London.
00:16:20
Speaker
that I think they're trying to start because we've big big news actually in climate conservation the UK one of the first countries to now completely cut off coal well and production that happened the other week um so big round of applause for the UK government for doing something finally yeah you know ah whenever I think about coal I just imagine industrial revolution UK because that's like the the most common with the show I would say about coal that's true yes coal we still have um a place called the black country which was big for ah oh yeah hu all thats yeah not because it's because of coal
00:16:59
Speaker
Yeah well yes coal mining just development so there was lots of like black smoke black it was a huge actually you know what if you ever come to come to England they have a really good museum walkthrough of uh in the black country And it's basically um just like England, just as it turned into the Industrial Revolution. So you're walking through, there's like mines, there's boatyards, there's schools. It's a complete like British village or town that was going through the motions of the Industrial Revolution that they built. You know, one of those like historical reenactments. It's like that. It's very is actually I went there on a school trip once. Very cool.
00:17:44
Speaker
Yeah, and that could be a premonition for another blog post, maybe written by me. I'm not sure just for that. Potentially, yes. Yeah, and I was saying, just as Earthfont is ah funding many different ah projects, we also would have many different kind of partners in the ocean cleanup crew. We could ingest into one guy, ask our contributors to... He meant the ocean dhow, I think.
00:18:10
Speaker
OceanDAO. Yeah, you said Ocean Cleanup Crew, which is the company, not the DAO. Right, so our DAO could invest a little bit into Ocean Cleanup. It could invest a little bit into Earthfont, maybe into a third company.
00:18:26
Speaker
And we would have complete transparency with it and have ah our um contributors, not donors, ah decide on the direction we want to take. Because that's exactly the point, because the once the money's in the pot, it's not up to us how it is. It's up to the people that have the specific tokens. So let's say um Let's say hypothetically, we've got someone called, I don't know, um Molly. And Molly's really big into ocean preservation, and she donates into the ocean dao. Would she be concerned that we're going to have a hand on that money potentially, but we just want to make it very clear is we don't we have no if if we ourselves don't have a token in that specific dao,
00:19:18
Speaker
We've got no choice of what the money happens to it. We can't take out the money and use it for ourselves, which I doubt we will do anyway, but ah which we wouldn't do anyway. On the security side, of course, there's trust like everywhere, but there's also multisake wallet. So one member cannot run off with all the money, you would need Well, depending on the multi-sick, you would need either all of them to agree to this or the majority. So it really depends on how you establish mo the multi-sick. Exactly. And of course, smart contracts. Smart contracts. That we cannot bypass. Exactly.
00:19:55
Speaker
You've got to love a blockchain. Even as founders, if we establish those rules, no one can bypass them. They are what's called immutable, so they are unchangeable. And everyone can see that those are the established rules. If you know a little bit about Web3, you can read it. Yes. We actually do have a walkthrough on how someone, because as much as we're talking about the ocean down, it sounds great, doesn't actually exist. Because again, it's not something that we as any of the companies will or can set up. It's up to the people that donate to set up. Again, because it's completely in the hands of the user, not the company. That's that's the whole idea. um But we'd say for hypothetical Ocean Dow or the OD as we've called it here, um it shows an alternative mechanism which could be used to achieve the Ocean cleanup goal. So sleazy, sit down. Let me talk to you for a minute.
00:20:51
Speaker
um So please, let's assume you want to participate in a fund to help clean up ocean dows. Is that something that could interest you?
00:21:02
Speaker
I would say I would. I don't know why I would, but I would. Exactly. Well then, lucky for you, you've come across the Ocean Dow. Now, to join the Ocean Dow, you must have a valid KYC verification and hold its governance token, which will which we're going to call the C token. um Do you want to know how to gain a C token?
00:21:23
Speaker
We are saying S-E-A, right? Not the C letter. Yes, S-E-A. The C token, yeah. Yeah, do tell me. Okay, so as you know, you must invest in the Ocean Dow Fund, which will allow you to join in with the fellow token holders and have an overall governance over the fund with your token.
00:21:44
Speaker
The fund is going to have a fund manager, which is a member appointed role. Again, this goes back to what we're talking about. The fund is completely within the members power pretty much. i Well, I say power quite loosely. It's obviously it's it's going off what you tell the blockchain system and the smart contracts to do. But you, the member, have the votes into that power. Yes. Yeah.
00:22:11
Speaker
ah But this means by the token holders will vote. the The token holders themselves, not the company, will vote on a member ah within the fund to become a fund coordinator, which will then give the specific member the the role of overlooking the petitions and passing the motion to forward a petition once it gains enough traction. Having a fund coordinator means the Ocean Dow will be completely run by the token holders. Again, that goes back. It's a member-run fund.
00:22:39
Speaker
Members of the Ocean Dow will then be able to submit a petition on what they believe the fund should be useful. Now, this is the important bit. Any member can submit a petition, but it's up to the group to decide whether that petition should um gain traction. So let's say if the petition does gain traction and support from other members, it will go forth to the Contributee Committee, which will decide if they want to improve it to be submitted to the Ocean Dow wide.
00:23:08
Speaker
binding vote. Now the contributing committee will just be the fund manager. Now they have the power to say no or or yes. So it's your job to decide vote in someone that thinks that will just allow, what's it, um submissions to basically go through because they're just there as sort of a quality control because we imagined we've getting hundreds and hundreds of things coming through saying oh you know everyone vote for me to just take the pot and run it shouldn't be allowed to even be bothered to go to general vote because it's just stupid so we're going to have a quality control sort of department and that's what the fund managers and people will be doing um and though the people that do that job will be be voted in by members of that DAO
00:23:59
Speaker
um Yeah, fun fact, normally in a lot of communities, it's not about having power, just that a lot of people don't really have time or just don't want to ah make some organizationally work. So they don't really mind having one or two or maybe five people ah have control over some part of it, because they are the ones who need to make the effort in order to make it. So it's not a bad idea to centralize it a little bit.
00:24:28
Speaker
in some cases, in some aspects offer or of it of the organization. Yeah, yeah, exactly. and and So it's not exactly, it's not a bad thing to have. ah And in fact, we have recently added a, I think, was it three more projects to our list? Or was it two more projects to our list over at a PGF?
00:24:54
Speaker
We have added about, I think it was two or three, yeah, a couple projects on the pipe general launch pad. um All of those can be donated to same tokens, not technically part of the ocean dowel, separate things, but a lot of them do. We do have quite a lot of climate focused projects coming through. and For instance, that like water filters, stuff like that. It's very interesting stuff.
00:25:20
Speaker
um But one thing I just do want to get off my chest is ah obviously we've just talked about the ocean Dow and that, you know, this big pot of money that is all going to be donated towards the ocean cleanup. This hypothetical, it's all going to the towards the ocean cleanup.
00:25:38
Speaker
But why should it stop there? Members can also vote and pass other proposals to use the fund for different projects, which will create an Ocean Dow sub-fund. This money, which will use money from the original fund, the Ocean Dow fund,
00:25:54
Speaker
and to help fund other projects that also fit in with the original fund ideas. So it's like a snowball effect of so you get this big pot of money, you're giving it to the ocean cleanup crew, clean up crew, someone goes hey there's another company because that works here and they do this and they clean up this and they're they're also that. People in the committee ah members can go oh yeah we can donate donate to them but you don't have to just stop donating to the ocean cleanup crew and start donating there you can create a little sub fund which will take money from the big pot which you don't which you might not be using and then give it immediately back to the uh give it to the sub fund and that sub fund can go on and then donate to another company all so and that can happen for many different
00:26:47
Speaker
companies, you can get sub-funds from the main part, send it to different companies, imagine it like a big spider web all connected around the original Ocean Dow fund.
00:26:59
Speaker
um And that's what could be used. That's what the Ocean Dow and Dows can be used for, creating this whole network of donations, all based around this one big pot of money, completely central or not, what is it, completely just making donations as easy as possible, because you can just donate to the one and it can be used for the many. if that Does that make sense to you, Sleazy?
00:27:28
Speaker
Yeah, very much so. And while this Ocean Dow is not a thing that we have at the moment, but could have it in the future who know but we could have it in the future. knows? If you remember correctly, we have awesome lawyers. And because of this, we have two different companies. One is PGF. The other one is PIPE Company. I think that was the naming.
00:27:52
Speaker
ah They are the ones responsible for the projects. We don't know what they're going to throw out next. You could ask them in the LinkedIn or in our link tree down in the description. ah But ah we've got a Discord and a Telegram as well. And a Telegram. And a Telegram, yes. And this podcast. And this podcast, yeah. But there's many ways of getting and in contact. Obviously we've got the website as well, the link tree which will take you to your preferred
00:28:23
Speaker
ah had an or allow you to choose your preferred method of communication, ah what group you want to be a part of and whatnot. And remember, while we have sort of like an index fund with the projects, so you invest into token and then all of the projects cumulatively yield to profits.
00:28:42
Speaker
So you take an average out of all of them. While that is generally how our system works, you could also invest into ah any specific projects on our list in particular. You would have to figure out the details with them. You could always just ask Rob Steel for the details how you could do that. But that's a possibility that's available to anyone. You could be even on their board if you ah have a the time, commitment, and maybe some skills that are necessary for it.
00:29:11
Speaker
and Exactly. Yeah. Yeah. And that is all for this block. We will be we already have the the the content for the next block. I don't remember what it was, but we'll start working on it immediately. Yes, we will. Yeah. And we'll see you next time. All right. Goodbye, everyone.