growr on Nostr: I was a great fun to join #NostrHack in the last 2 weeks — but what's more ...
I was a great fun to join #NostrHack in the last 2 weeks — but what's more important, we came out with some important realizations:
- Bitcoin communities can build social credibility by showing their proof of work on Nostr, and attract followers, members and funds directly, without the risk of getting de-platformed.
- They are best positioned to take in capital from Bitcoiners, not from institutions. A community doesn't need much in its early stages. Bitcoin Beach was bootstrapped by a generous donation, but for this to scale to hundreds and thousands of communities and frontier towns, they would need small *investments*, in the original tradition of microfinance.
- Bitcoin communities can therefore publish their projects on the Growr protocol and look for external funding. Growr is now integrated with Nostr to enable not just constant communication, but also frictionless and instant investment using zaps. We found that the combination Nostr + Lightning enables a super-flexible bi-directional payment rail. After zapping a project, an investor gets an electronically signed commitment as a direct message from the community. The community pays back their investors according to the terms, using their current Lightning addresses.
- Investments (no matter whether debt or equity) involve significant risk – that's where the Growr protocol shines. Its node software provides a set of tools to manage credit risk: building *self-sovereign* credit records for the community members (based on open standards, not locked in a silo); immutable append-only loan books that get replicated over a peer-to-peer network to investors and provide full transparency about the usage of funds; monitoring and reporting to help the community establish a professional process. Investors rely not just on social credibility, but on cryptographically secured data about the community activities.
We believe that's the best way to orange-pill the world and bootstrap Bitcoin communities all over the planet!
You can read more here: https://makers.bolt.fun/story/introducing-growrs-social-layer-on-nostr-enabling-it-to-become-a-peer-to-peer-kiva-alternative-for-bitcoin--728
- Bitcoin communities can build social credibility by showing their proof of work on Nostr, and attract followers, members and funds directly, without the risk of getting de-platformed.
- They are best positioned to take in capital from Bitcoiners, not from institutions. A community doesn't need much in its early stages. Bitcoin Beach was bootstrapped by a generous donation, but for this to scale to hundreds and thousands of communities and frontier towns, they would need small *investments*, in the original tradition of microfinance.
- Bitcoin communities can therefore publish their projects on the Growr protocol and look for external funding. Growr is now integrated with Nostr to enable not just constant communication, but also frictionless and instant investment using zaps. We found that the combination Nostr + Lightning enables a super-flexible bi-directional payment rail. After zapping a project, an investor gets an electronically signed commitment as a direct message from the community. The community pays back their investors according to the terms, using their current Lightning addresses.
- Investments (no matter whether debt or equity) involve significant risk – that's where the Growr protocol shines. Its node software provides a set of tools to manage credit risk: building *self-sovereign* credit records for the community members (based on open standards, not locked in a silo); immutable append-only loan books that get replicated over a peer-to-peer network to investors and provide full transparency about the usage of funds; monitoring and reporting to help the community establish a professional process. Investors rely not just on social credibility, but on cryptographically secured data about the community activities.
We believe that's the best way to orange-pill the world and bootstrap Bitcoin communities all over the planet!
You can read more here: https://makers.bolt.fun/story/introducing-growrs-social-layer-on-nostr-enabling-it-to-become-a-peer-to-peer-kiva-alternative-for-bitcoin--728