Green Candle began its contribution to the DashDirect project in September, 2017 by donating a server to launch our website. In 2018 Green Candle is furthering their support to DashDirect by acting as an escrow service that allows donations to go to one easy escrow address for distribution to households in need.
Green Candle Inc. was started on August 26th, 2017. Since its inception GC has helped manage some of the biggest Dash proposals to date. Founders Jeff (Coingun) & Jeremy (vancoinman) started Green Candle to be an industry leader in facilitating legitimacy and trust in global financial transactions.
DashDirect is an independent direct giving basic income project that is working to eliminate global extreme poverty. Direct giving means the elimination of overhead expenses so your charitable giving helps those in need the most rather than paying organizational administrative costs.
DashDirect: How will Green Candle handle the addresses of the households participating in the DD Basic Income Project?
Green Candle: DD TC-Admin selects households based on the surveys they conduct. These addresses are transmitted via a secure 3rd party channel and funds are then released to the Basic Income recipients on a weekly basis. The funds received for the Data, Communications, Hardware, and Condom paywalls are released, as needed, via secured requests from TC-Admins.
DashDirect: How are DashDirect escrow funds held securely by Green Candle?
Green Candle: We can’t speak in too many specifics for obvious security reasons but essentially we maintain remote location(s) with air gapped machines that we can bundle the transactions on. The wallet addresses used for the DD donations are generated offline and then provided to the DD team. Donations then flow into these offline cold storage addresses during the monthly operations. When the time comes to distribute the funds to the DD users we do this by building the outgoing transaction offline and then those transactions are broadcasted to the dash network through a series of secure machines.
DashDirect: What, if any, measures are in place to ensure Green Candle continues its Dash Direct services should any individual unforeseen circumstances arise?
Green Candle: Green Candles’ goal is to help drive the mass adoption of Dash. Until this goal has been accomplished we will to continue to invest our time and effort into scaling the Dash Network. To date we have helped standardize the escrow process for working with the Dash Treasury. We have also worked to bring micro donations (visible in our growing commitment to DashDirect) as well as micro proposals (which will soon be visible in our commitment to Dash Boost).
There will be many needs of the Dash Network during its road to mass adoption and we intend to prove our commitment to this goal by continuing to support projects like DashDirect until they become self sufficient in their operations. The same measures that have been built to protect the funds we escrow on behalf of the Dash Network are being used to protect the funds being donated to DashDirect. This allows all of the donators to rest assured that funds donated will be redistributed in a transparent manner to their intended recipients.
DashDirect: What is the arrangement should our project, for any reason, come to an end, how will Green Candle distribute the remaining funds?
Green Candle: As with all funds we hold in trust we do not take ownership of these funds. If the arrangement should ever end or as we transition to a more self sustaining model of operations for DashDirect all funds upon termination of our engagement will be returned to DashDirect. This is our commitment to the Dash Network not only with the funds we hold in trust for them but also to the DashDirect team for the funds we hold in trust for their donors.
DashDirect: What is the largest project that Green Candle has handled to date?
Green Candle: To date, we have successfully escrowed over 4100 Dash on behalf of the Dash Network. We pride ourselves as being the only organization outside of Dash Core that has signed MOU’s (memorandums of understanding) with contractors working for the Dash Network. These agreements protect the Dash community from being exploited and help to prevent fraud. It is through agreements and protections like this that we continue to lead by example in working with and on behalf of the Dash Network.
By: Zachariah Knapp
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