Rising DAO and NFT Adoption for Just Causes a Positive Indicator: Raj Chowdhury
A recent DAO project raised over $40 million to acquire a first copy of the US Constitution in auctions, though they were outbid by a private collector.
PALO ALTO, Calif., Jan. 17, 2022 /PRNewswire-PRWeb/ -- Blockchain pioneer and HashCash Consultants founder Raj Chowdhury anticipates higher utilization of blockchain-based digital transformations for humanitarian, philanthropic, and social purposes. Throughout 2021, decentralization has been pivotal to the growth of DAOs, NFTs, metaverse, and the upcoming web 3.0.
Decentralized autonomous organizations, or DAOs, make full use of the lack of hierarchy by functioning on encoded smart contracts. Notable worldwide instances involving digital token utilization and pool-funding to make social and economic contributions include projects for streaming, freelancing platforms, charity, and many more. A recent DAO project raised over $40 million to acquire a first copy of the US Constitution in auctions, though they were outbid by a private collector.
Chowdhury has a positive outlook on ongoing market trends and the upcoming future. "Blockchain, like any other technological innovation in history, was designed to improve the quality of living. Decentralization and peer-to-peer networking foster a spirit of collaboration and commitment to change things for the better," he says in reference to the growing adoption of blockchain applications for non-profit purposes.
A global consciousness to make the world a better place is bringing together crypto collectors and enthusiasts. Projects have been launched to make contributions to fund cancer research, save the environment, and help fight poverty. Organizations like UNICEF and the American Red Cross accept donations in crypto assets.
"The growth in technological progress along with pandemic losses is steering a collective force into working towards the social and economic upliftment of people
Worldwide," said Chowdhury.
The US-based HashCash Consultants led by Chowdhury has been involved in medicine and space research. Over the years, the company has been an active participant in projects boosting financial inclusion, low-cost remittance, and COVID-19 vaccine distribution, as well as preventing child labor and helping African businesses/ non-profit organizations with blockchain finance channels.
Blockchain innovations like DAOs, metaverse, and NFTs, touted as the upcoming global game-changers are already showing great promise in social, environmental, and financial upliftment. The future can expect more philanthropic endeavors and collaborations through charitable blockchain projects.
- About Raj Chowdhury:
Raj Chowdhury is the Managing Director of HashCash Consultants and a Blockchain pioneer. Raj pioneered the first interbank Trade Finance and Remittance implementation of Blockchain Technology between two of the largest global banks. Raj is an eminent voice in the Blockchain and Cryptocurrency space and actively engages with policymakers in this area. He is a contributor to Economic Times, Business World, CNNMoney and advises industry leaders in the adoption of Blockchain. Raj had been a research associate at MIT's Microsystems Technology Lab. He is a member of Asha Silicon Valley, a nonprofit committed to education for children in emerging countries. Author of the book 'The Dark Secret of the Silicon Valley', Raj is an investor in blockchain and cryptocurrency companies and an active member of the philanthropic community.
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SOURCE Hashcash Digest
