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RE: Potential Steem Use Case: Powering a University's Endowment
Dear @remlaps
My good friend @devann shared this publication with me.
I must admit that I've never used word "endowment" before and in the beginning I found it a bit confusing to understand meaning of it. Thx for solid explanation what endowment is about.
the keys to the first account would be destroyed
Why? Would it really be necessary? It sounds like a huge put-off and I cannot imagine many users willing to do it. It require absolute trust between both parties. Hard to achieve.
Interesting read (it may be a bit to long :)
Yours, Piotr
Thanks for the reply!
In general, I believe that people rely on legal or procedural controls to make sure that the principal portion of an endowment is never withdrawn. But there is always the risk of embezzlement by someone with access to the funds. By destroying the keys on the delegating account, a donor can guaranty that the funds are inaccessible for withdrawal.
But no, for this concept, that step would not be necessary. An institution could use legal and procedural controls, just as with a traditional endowment.
Dear @remlaps
Thank you for your kind comment and sorry for replying so late. I didn't see you posting since your comment. Hope you're okey.
May I ask you for little favour? I'm not sure if I did ask you about it already or not (hope I'm not repeating myself).
Could you please check out also my recent post if you have few min and share your thoughts on questions related to concept of "introducing steem blockchain to businesses":
https://steemit.com/steemleo/@crypto.piotr/my-very-first-trip-to-switzerland-one-of-the-most-crypto-and-blockchain-friendly-place-on-the-planet-earth
Your feedback is always appreciated ;) And I will upvote most valuable comment with 100-200k SP coming from project.hope account.
Yours, Piotr