Sistas First Look: The Transformation of Global Urban Collective to a For-Profit Blockchain Crypto-Driven Semi-Autonomous Benefit Corporation

businesssista In this article, we want to help the sistas understand how the whole concept of corporations are dramatically transforming towards a disruptive future model as well as understand the benefits and opportunity. I will cover with you sistas technology and concepts like the blockchain, distributed ledger, smart contracts, autonomous agents and crypto-equities such as crypto-stocks and crypto-bonds. In addition, I want to briefly cover the concept of a benefit corporation or B-Corp and considerations versus creating a non-profit company. The Global Urban Collective, a Facebook group that started over a year ago from this blog with a majority of members who read this blog over the years has been collaborating and sharing information on global business patterns and practices as well as future technology and implementations we see around the world that can be adopted for urban communities worldwide. Earlier this year, we switch to Agile and centered around creating a backlog and executing against the backlog and we are getting there and that is our story. The Global Urban Collective needs for an established structure is becoming more and more a defined reality and I have taken steps to hopefully make this a reality. We first have to decide if we want to be a non-profit or for profit. Why The Global Urban Collective Will Be For-Profit. greed I made the decision to be a for-profit operation after weighing all of the cons of going the non-profit route. The problem I saw with non-profits is too many characters out there looking to take away a non-profit tax exempt status because of political agenda or whatever. In addition, we have the IRS with rules all over the place ready to take someone non-profit status away and then slap them with a for-profit tax bill after the fact. Furthermore, non-profits usually have to go raise money and be sponsored/funded by some entity or government grant and because of institutional inequality against black people, funding don’t happen unless we tear down or apologize for something some other black person did to offend the status quo. I simply don’t have time or the personality coming from the West Side of Chicago for that kind of crap. By pursuing for-profit status, we can write down the taxes just like the big corporations and whatever left over, cats get paid. We can reward contributors who bring value that is realized to the people and communities that we want to serve worldwide and if they want to buy a Bentley with the money, that’s their cash flow choices. As a for-profit, we can attract talent with a war chest and we can reward our stakeholders who invest in our operation – instead of giving us a grant, they invest in shares and the goal is to maximize shareholder value. But most important, as a corporation, we are unapologetic about getting the money and getting the power and getting the respect to make real moves in this world. And if we want to fund politicians and oppose politicians as a corporation, then so what. These are the advantage I saw having the Global Urban Collective pursuing the for-profit route – we just get the money up and make moves and pay taxes. Pursuing a Benefit Corporation Strategy bcorp So now we got the whole non-profit thing out of the Global Urban Collective equation, the approach is to make money by delivering value and provide a social benefit. This is called a benefit corporation so let’s look at Wikipedia for the definition: In the United States, a benefit corporation is a type of for-profit corporate entity, authorized by 30 U.S. states and the District of Columbia[1] that includes positive impact on society, workers, the community and the environment in addition to profit as its legally defined goals. Benefit corporations differ from traditional C corporations in purpose, accountability, and transparency, but not in taxation. .. The purpose of a benefit corporation is to create general public benefit, which is defined as a material positive impact on society and the environment, i.e. maximum positive externalities and minimum negative. A benefit corporation’s directors and officers operate the business with the same authority as in a traditional corporation but are required to consider the impact of their decisions not only on shareholders but also on society and the environment. Source: https://en.wikipedia.org/wiki/Benefit_corporation Keep in mind that in reality, any corporate entity can operate as a benefit corporation by just caring about having a positive impact on society and the community around them. Now, there are a few things to keep in mind – the Global Urban Collective has a very good talent pool and assets to execute solutions worldwide so we can deliver solutions and get money anywhere in the world. However, most of the group is African-American and I would think they would have a vested interest in helping the African-American community in some way and there are several items in our backlog designed for this. For example, we are looking at creating an emergency food bank in the black community (after tornado or flood) as well as an emergency notification system similar to campus shootings that alert people in the black community of shootings, crimes and other incidents. These are solutions ignored by everybody else but this is what the Global Urban Collective will pursue for communities worldwide and be very inclusive of making sure we deliver much need solutions for the black community. The advantage of being a benefit corporation is we can pursue for-profit strategies where for example, we can make money on projects overseas and then use the funding to fund a project in the hood somewhere here in the USA. This flexibility is something not heard of with groups like NAACP, Operation Push or Urban League where they have to beg others for money and funding while we just go and make money and spend money and care about the empowerment and upliftment of urban communities. Let’s First Discuss the Concept of Cryptonomics. cryptonomics Today, most tech startups are raising their initial funding using cryptocurrencies. Cryptocurrencies are pretty much an encryption scheme where the person holding the unique key of the encryption is the owner of that asset. To transfer that asset, the owner with the unique key will digitally “sign” a transfer statement by creating a unique set of characters based off their unique key to another owner who have their own unique key. I have showed cats how to do this on Dream and Hustle already. Cryptoplatform Lisk has announced the completion of initial coin offering having raised 14,009 BTC and in excess of 80 million ICR in four weeks. This amount is roughly equal to $5.9 million at current exchange rate. Ethereum closed a public sale, called a Genesis Sale, of his own cryptocurrency, called Ether, for 30,000 bitcoin, or approximately $15 million. In both examples above, these firms created their own encryption keys and put them up for sale to investors to buy as a way to raise funds. There is another platform out there called Fooky.com which is more real-world and flexible than Lisk and Ethereum and there is a rumor Fooky.com will have an underlying cryptocurrency called the Fook and will also raise funds in this manner but this is the next preview you sistas will have first look at also – man, you sistas are getting the exclusives, yall sistas must be special or something! Because I’m also hearing rumors you sistas are getting a sports technology article as well as the board game stuff too - I’m like so jealous right now! So in essence, cryptonomics eliminates the need for VC firms that don’t like investing in black people or dealing with the heavy crowdfunding laws. If you want to think of the black community, there is no need to do the tired talk of “black banks” or “pool our money” stuff – just need a crypto-currency and mobile payment scheme like Bitcoin to create a system to do local-based transactions where the money stays in the black community, creating instant and rapid growth of economic development and black economic empowerment. Africa has already succeeded with the case study of rapid GDP growth so no one can doubt cryptonomics. This is the type of technology and platform the Global Urban Collective can now build and facilitate operating as a for-profit benefit corporation. Explanation of Future Concepts for Sistas to Understand explained To understand the very futuristic talk we are about to use to explain Global Urban Collective, I’m going to need you sistas to understand some stuff that you may not have read up on yet or quite understand even through you see these concepts written somewhere or saw job listings paying $130,000 to $200,000 or more with these skillsets. So let’s go over these technologies that already familiar to members of the Global Urban Collective. Blockchain. A blockchain is a way to make sure a ledger like an accounting ledger or score ledger or record of entry can be authenticated by encrypted the current ledger entry with a hash or encryption of the previous entry. So this is creating an encryption “chain” of the last entry encrypted into the next entry making the ledger as a whole a huge encryption scheme. This means no one can just come in a change the ledger it because they will break the “chain” and this is why so many firms around the world is excited by this technology because now they can have more solid ledgers that can be trusted better. Distributed Ledger. This is a strategy where multiple copies of the blockchain ledger is distributed among independent entities who can verify the blockchain independently. So if party A gets a blockchain ledger and party B get a blockchain ledger, then both ledgers have to match for someone to consider the whole ledger safe. In a decentralized system like Bitcoin, something can be written to one ledger and it gets written to other ledgers in the node and the goal is to see if the majority of ledgers are good enough to trust the ledger. Smart Contract. I explained to the Global Urban Collective not to feel lost hearing this term. A smart contract is basically a function or rule to execute based on a condition. For example, if it is the 15th of the month, send $15 for payment to a grocery delivery service. Smart contracts can be written on the blockchain as with Bitcoin, you can place not only transaction information but you can place executable scripts like JavaScript as an entry in the blockchain ledger. You have software that transverse the blockchain and find the executable statement and if that statement is properly signed by both parties, it executes a smart contract. Crypto-Equities. These are an encrypted representation of a stock or bond that can be traded on crypto-exchanges for both crypto-bonds and crypto-stocks. The traders can just digitally sign the transaction. There are many crypto-exchanges around the world being propped up and many firms are going to market to raise funds by issuing crypto-stocks or others are engaged in debt financing by issuing crypto-bonds that correlates to real stocks and real bonds in their firms. Autonomous Agent. While you hear the 1%, executives and self-important journalists talk about robots laying off fast food workers, it is actually “robo-advisors” that is currently throwing financial analyst out on the street right now, taking their jobs. Think of stuff like Siri, Cortana, Ask Google or Amazon Echo where you ask a question and get an answer. Well, in enterprise environments these types of robo-advisors can give you information on how to manage your stock portfolio or even further, it can do all the steps to arrange a birthday party of your teenager from automatically booking the DJ to the clown to the catering based on stored information and stored workflow. This technology will throw out more executives and journalists out on the street faster than it will take to build robots to replace fast food workers, keep that in mind and smile a little while you think about that one. Global Urban Collective For-Profit Blockchain Crypto-Driven Semi-Autonomous Benefit Corporation theguc Now after mentioning all of the above, you sistas should have an idea of how the Global Urban Collective is going to be formed and operated as a next generation future model of corporate entities. The Global Urban Collective has taken it a step further from being a Facebook group and is going to be a benefit corporate organization. Members currently in the Global Urban Collective (I kicked out a lot of slackers) are going to be offered shares in the Global Urban Collective as my way of showing thanks and appreciation for supporting me and my vision. I do not get a lot of support from the very people I’m trying to serve and those who do support me, I’m going to show my appreciation and the current members of the GUC can now be immediate shareholders and stakeholders in the future direction of the Global Urban Collective. More of the Global Urban Collective shares are going to be offered as stock options to attract executive and employees. And I’m planning to release a lot of shares as crypto-stocks for crowdfunding or to be traded on the crypto-exchange market to raise initial funding for the Global Urban Collective to operate. This is where many of you if you want to can buy the crypto-stock which will be a representation of real shares in The Global Urban Collective. So at this point, you should realize if we hit the crypto-stock exchanges and successfully raise funds, the GUC members will have value in the shares granted to them. Mostly likely they will hold onto their shares or sell a little for profit taking but I hope they hold onto their shares because the GUC got so much ahead of it in terms of growth and direction. The Global Urban Collective will use the initial funding to ramp up the organization and operate against our business models to generate revenue to increase shareholder value. We may do things like acquire land or storefronts to run sharing economy solutions or fund projects as collaborative ventures to improve the local economy in areas. Think of things like create a pedestrian mall to encourage night markets and local people operating as vendors, creating pop-up strip malls to allow entrepreneurs to showcase their products in a real storefront or create a cloud service that allow e-learning for kids in Roatan, Honduras to learn business skills. Social benefit operations where most of it can be written down as business expenses and most of the remaining net revenue is returned to shareholders as dividends. Now for accounting and recordkeeping, we don’t have to worry about corruption and cooking the books because each shareholder is entitled to more than the annual report, they will receive a distributed ledger that they can verify with each other to make sure the accounting books are right at all times. This distributed ledger and blockchain eliminate the whole need for a huge audit and accounting group. In fact, the Global Urban Collective goal is to leverage smart contracts on the internal blockchain to pay taxes, pay bills and pay vendors in real-time. I’m looking at a smart bank that allows smart contracts to autonomously be informed of bank ledger transactions and act upon those transactions and there are a few startup banks in Europe that does this right now. But the biggest hot sauce is the semi-autonomous agent that will be programmed into the Global Urban Collective corporate entity. The semi-autonomous agent will be able to make business analytical decisions just like most automated trading agents or robo-advisors and will be able to make business decisions against big data repositories and formulas designed to maximize shareholder value, minimum tax exposure and reduce risk. Just like automated traders know when to sell, a corporate-designed semi-autonomous engine can determine when a business line is no longer forecasted to be profitable and wind it down and also, it can automate the workflow to autonomously create a shell company in the Cayman Island and robo-sign everything and transfer the funds to the Island and book a lavish corporate party in Vegas for the whole Global Urban Collective to act a fool at – autonomously. But one of the unknown risks is programming the semi-autonomous agent to be too smart and think too much like VIKI…

4 thoughts on “Sistas First Look: The Transformation of Global Urban Collective to a For-Profit Blockchain Crypto-Driven Semi-Autonomous Benefit Corporation

  1. Brother Ed:

    Your Thoughts?

    Amazon Same Day Is RACIST As It Does Not Cover Black Communities In The Metro Areas It Serves?

    Amazon Same Day Has Recognized A New Market For Instant Service. Black Entrepreneurs Now Have The Opportunity To Go Into These ‘Polygons’ That The Big Corporate Whale Has Bypassed – Allowing Them To Build Up A Brand, Infrastructure And Processes To One Day Expand Their Economic Base (Before The Koreans From “Super H-Mart” beat them to it.

    Within The Black Community Blog
    http://withintheblackcommunity.blogspot.com/2016/04/the-colonizers-little-black-book-amazon.html

    Original Source: Businessweek April 25

    1. I don’t know who argued this or the agenda but any local community that support local fiscalism would prefer to perform these services than advocate a big box perform these services.

    1. Love how someone has to alias themselves up to talk to me – just giggles right here….

      So you think that is worthy of a conservation – a new age Black Planet? How that turned out? Shirtless dudes showing off their chests and yoga pants chicks showing off their butts and everyone calling each other acronyms to hide racial epithets?

      When you cannot explain anything…typing just a domain name is all that can be done. Being a dickrider, happy to be a follower and consumer and having to hide behind an alias to speak to a black man is all we need to see to know what’s up.

      Do not confuse selling a dream to suckers like you buying into empty virtual race utopias comparing to what is being described here. You are talking about 20-year old platform paradigm that ancient in technology years with just race labels attached to it.

      The funny part is you guys giving cats pitching the hustle (dvds, school for boys, social media) money when I’m the reverse – im setting it up something more powerful, investing my own money and giving cats shares…remember that fact..yeah..thought so…

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