I’ve been long worried about the administrative burden essentially for maintaining a bank account in Ireland.
There is no doubt that our community wants to operate as a co-operative. Democratic principles + decision making, shared equity, etc. The question I’m opening up for discussion is whether this requires being registered within a specific geography (Ireland, since inception) or if the same principles could be administered within another framework such as a DAO. (Used VERY loosely as I don’t think a blockchain based system is necessary at all.)
The reason is simple – the cost of administration mainly for the sake of having a bank account is extremely high. We have lots of admin costs (taxes, audits, paperwork, volunteer time) that could be potentially eliminated by choosing to “go virtual”.
Of course this depends on something rather significant – being able to switch to some combination of virtual bank for maintaining hard costs (servers + services) plus paying artists. In theory, a combination of Wise and Open Collective might work.
Honestly I don’t know what the complete solution is. While I’m speaking to the practicalities, this also comes from a personal place – I feel guilty for being on the board while my current life situation doesn’t allow for much time to contribute. And yet I CANT leave the board and make space for others who could commit to more participation almost entirely because of… a bank account. (Please don’t ask me to go into details about our inept old world bank that has archaic paperwork requirements making it stupid expensive and time consuming simply to add or remove access… grrr…)
As mentioned, this proposal is so incomplete that I can’t even call it a proposal. Just a starting point for discussion of alternatives…