- Scalable Harberger tax contracts deployed on the Ethereum blockchain for the first time to save endangered wildlife
A platform called Wildcards has successfully deployed scalable Harberger tax contracts on the Ethereum blockchain for the first time in an effort to save endangered animals.
Specifically, users of the Wildcards platform can buy non-fungible animals tokens, but immediately must put the token up for sale so that someone else buys it and funds continue to be raised. In order to prevent a user from setting a ridiculous selling price, the user must pay a percentage of the selling price, which is called a Harberger tax.
Although users must sell their tokens, the platform records their stats, so they can show off how much they have donated to charity if they desire.
The Wildcards platform is not limited to raising funds for endangered animals either. Any charity can raise money with Wildcards. For example, koala non-fungible tokens might be traded in order to raise funds for the Australian wildfires.
Overall, this is an excellent example of how blockchain technology can be used to raise funds for charitable causes.
Image Courtesy: Pixabay
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