JCF’s application to #startsmall.llc
Twitter/Square’s Founder/CEO Jack Dorsey has started a fund called “startsmall.llc” to do something about Covid, Girl’s Education, and Universal Basic Income (UBI).
As Joint Commonwealth Fund (JCF) is a social impact fund that aims to make basic income universal to over 1B+ people by 2040, we’ve decided to also apply.
In accordance to our core value of “transparency”, we’re sharing our application publicly as well. Enjoy! :)
Feel free to provide your feedback or contact us, if the goals of JCF align with your social causes as well!
Is your organization an IRS 501(c)(3)? *
If you are an international organization or a 501(c)(4), please choose “Other” with a short explanation
We’re a also a LLC based in Taiwan (#50791133), see this document.
Provide a brief summary of your organization’s mission *
Please limit response to one paragraph or less (if possible)
Wealth for All (vision: by making basic income universal to over 1 Billion people by 2040).
Grant Request Amount (USD$):
USD $500,000 — $1,500,000
Will this Grant be for: *
v General Support
A specific Project or Fund Support
If funding will be used for a specific project or fund, please provide name and details: *
If General Support, please enter N/A. Please limit to one paragraph or less (if possible).
We’ve found a viable model to help the general public (SMB owners & Millennial) to safely invest in the crypto/blockchain trend, while using the profit to support Basic Income. We’re 120+ members with $160k AUM now, and have handed over $250 UBI to all since 2021. We’re at a stage to scale up.
What category would your Grant Request fall under? *
If your request falls under more than one category listed, please choose “Other” and list.
Girls Health & Education
v Universal Basic Income
Please complete this sentence: “This grant will be used [to…]” *
Please limit your response to a paragraph or less. Example: “This grant will be used to fund the “Girls Health Program” in Africa to assist girls ages 9–18 with their health issues related to COVID-19".
This grant will be used to quicken our development and marketing speed and kick-start a viral referral/invitation mechanism to scale our MAU to 1M+ (our next milestone target) by 2022.
Please describe the problem and who/what is impacted by the problem. How will the requested funding be used to address this problem? *
Please also include the population that this grant hopes to serve. “Population” can include: Geographic location, Socioeconomic Status, Race, Ethnicity, Gender, Sexual Orientations, Age, Physical Ability and Language. For Geographic location(s), please list all countries, subregions that would benefit from this work; please include city(ies) and state(s) if within the USA.
The wealth gap between the rich and poor has always existed, but is increasing at an alarmingly rate, as AI and robotics likely will replace many jobs in the near future.
Universal Basic Income (UBI) is a potential solution, but we all know governments are slow to act.
So why not start from us? the private sector?
Joint Commonwealth Fund (JCF) is a social impact fund that invests in crypto assets with a vision to make basic income universal to over 1B+ people by 2040.
We allow ordinary people unfamiliar with cryptos to invest in the crypto/blockchain trend safely via an index fund strategy with exiting to USDT when the market is bearish as additional safety mechanism.
Profits first go into a “dividend pool” where 25% is paid out monthly to all participants. Of which: 40% is shared by holding ratio; 40% is equally shared among all verified members as a form of basic income; 7% “donation tokens” are required to be donated to chosen individuals/organizations to enlarge membership; and 13% is “team tokens” to support our operations (the ratio may reduce as our AUM increases).
We consider that making our UI/UX as easy and as friendly as possible will help ease adoption, and the donation/referral mechanism will help to kick-start viral growth.
The funding will be used to mainly improve development in UI/UX improvement and education/adoption of JCF, as the more members we have, more will have passive income towards a UBI.
Our primary geographic to scale are South Eastern Asia (SEA) countries with Indonesia as primary target (monthly earning US$170 in Dec. 2020), as we have community ties with the country. JCF already paid out US$250 UBI since 2021 to all members, averaging $25/M, a household of 4 would get $100/M support from us, which could make a meaningful impact to the family.
More details on how JCF works is in our webinar:
Describe the scope and approach of the proposed work. This should a short description of the principal results the requested funds would hope to achieve and how those results relate to the problem described above. *
Our goal is to increase our members (MAU) to 1M+, and Assets Under Management (AUM) to $30M by 2022 (an average contribution of US $30 / member).
The main approaches are super-easy, friendly UI/UX tailored to the local markets, and viral referral/invitation mechanism via our “donation tokens”, which is yet completed.
As 7% of monthly dividend paid is reserved as “donation token”, by requesting all members to give out to their relative/friends, or social organizations they’d like to support simply via an e-mail invite/on-boarding process, we aim to achieve scale via “viral referral”.
Our investment strategy has produced average monthly dividend yield of 2.62% in 2020, and 9.79% in 2021 so far. So it’s both good for the social investors, but will also benefit non-investing members on-boarded by the donation mechanism.
As our AUM and MAU increase, so will the basic/passive income cashflow each member receive on a regular basis.