Tomislav MamićSplit, a charming Mediterranean city, is about to embark on a pioneering journey. We're thrilled to announce that Split will be the first city globally to introduce Web3 based Quadratic Funding (QF) for public goods. This innovative model aims to transform the way municipal projects are prioritized and funded, ensuring that the voice of every citizen is genuinely heard.
Why Quadratic Funding?
Quadratic Funding offers a mathematically fair approach to decision-making. Unlike traditional one-person-one-vote models, QF better captures the diverse preferences of a population by allowing individuals to allocate funds to favored projects. The more supporters a project has, the more funds it receives, even if each donation is small. This means that more popular projects that are close to the hearts of many can receive significant backing.
Historically, prioritizing municipal projects like roads, parks, and libraries has been a challenge, often influenced by small but influential groups. However, with QF, every citizen has a say, and every voice matters. This model has already shown promise in the web3 domain, with platforms like Gitcoin successfully using QF to fund Ethereum public goods.
Why Split?
Split was chosen for this groundbreaking initiative for multiple reasons:
- Innovative Spirit: The city has always been moving forward at embracing innovative solutions to enhance the lives of its residents.
- Transparent Governance: The city administration recognizes the benefits of blockchain technology, such as Ethereum, for its transparency and control over funds.
- Community Engagement: Split has a vibrant and engaged community eager to participate in decisions that shape their city.
How Will It Work in Split?
Residents will have the opportunity to contribute to projects they care about. These contributions will then be matched from a communal pool, amplifying the total funds a project receives. By incorporating financial contributions into the decision-making process, we not only capture individual preferences but also ensure a diverse range of projects receive backing.
Implications for Split
The introduction of QF in Split will:
- Boost Civic Engagement: As residents see their contributions directly influencing city projects, it's expected to boost civic participation.
- Optimize Budget Allocation: With transparent funding and clear community preferences, city budgets can be allocated more efficiently.
- Foster Inclusivity: Projects that might have been overlooked due to lack of influential backing can now get the funding they deserve.
This revolutionary step reaffirms Split's commitment to its citizens, ensuring that their voices are always at the heart of city decisions. Join us in making history!
Partnerships and Future Activities
We're proud to collaborate with several partners on this project, including Gitcoin, Funding The Commons, and BlockSplit. Over the next year, expect a flurry of activities, including hackathons, workshops, and educational sessions, all centered around QF and its implementation in Split.
Stay Connected!
We invite everyone to join us on this exciting journey. Follow our project updates on our official website and social media platforms. Together, we can reshape the future of public goods financing and make Split a beacon for cities worldwide.