Hey Hamad the Space Christ, let me check with an abode.
(speaking in foreign language)
So really, Papa, I keep you keep cutting up for me. I don't know if that's my side or other's experiencing the same.
Hey Hamad, I think some connection issue. Give me a couple of minutes.
Yes, much better. Oh my god. Okay. Thank God it's been it's been hard getting back here. Well, it's not been so nice after Elon join. I think it's gotten worse. But okay, all right. I think we can get back to our discussion and
I was very curious about contributors like feeding a sense of security while they're actually aiming to contribute to the vision of the community which might be like owning a part of the NGRE team or contributing to the KBNetwork itself.
What do you think? What can we do right now? What are people doing right now to make them feel more secure? What can we do for contributors going forward?
Great question. I think there's probably two things that I've seen most styles are incorporating. Firstly, I mean, one, I think, way of retaining talent and keeping them for a longer period is definitely something around creating this
So this kind of seen more teams take on a core team and offering them, you know, proper salary packages with equity as well as alongside, you know, say a USDC, a base salary, which kind of hits the
I guess attracts the talent to stay, where before in a thousand a lot of payment was just done every month, you know, ad hocly based on the contributions you made, so that's definitely changed, like a formation of a core team. And then secondly, at these points, I think you hit
it before you lost connection was around now definitely providing that kind of assurance around compliance as well with more payroll providers coming in to help allow and make that easier in the crypto world, you know, so you can do your
taxes a lot easier being able to provide those services for your core team. So yeah, I'd say there's two things around offering them packages that I will attract them to stay and secondly providing them the compliance side of things as well to make their lives easier.
And so what do you see happening sooner? Do you think Towswell incorporate themselves and have a rapper, have a legal rapper to make sure that they
are compliant and so are contributors or do you see Dows do be running the same way without legal entities and contributors finding a way to actually make sure that they are compliant somehow.
I think definitely more and more thousand realising they may need a legal wrapper not just for this scenario but also to be able to conduct a lot of other business as well like being able to interact with certain other entities or service providers that they would require having a legal
But yeah, I've seen a lot more dowels and corporate and that will obviously straightaway make it easier for those contributors who are contributing to them. They can usually certain contributors might have could initially work at create their own companies and then would be able to at least invoice in terms of
of like a contractor to the Dow's legal entity then. So I've definitely seen more and more Dow's go through that process. And then I think that makes it easier for a contributor straight away as they can have a legal entity to basically invoice. So I think that is the way most Dow's are going now.
That makes some sense. I think that's the most simple and the idea of how contributors can start feeling more secure. And talking about these legal entities, there's been a lot of
talk about different jurisdictions supporting Dow streamworks as well. What are you seeing these legal entities to look like? Are these like your typical sea cards, LLCs, or are they any different is what you're seeing?
The question is not a particular area of expertise of mine, but I think it depends on what, especially on what the Dow is building or what the basically function is, but usually informs which kind of incorporation they go for. I mean, the ones I've seen
the most are some like came and entities, Delaware ones. But again, it I think it really depends on what the firstly that I was doing in terms of what is the products or what they are actually offering. That usually informs where they should incorporate and even some things around
what their token, especially if they have a government token, what that looks like and where it's best placed to incorporate. So there's a few things that they have to consider and that's why I've seen a lot more of them go to proper legal providers to figure out what the best structure is for them, particularly
That makes perfect sense. So switching gears from legal entities, which are definitely not something that we are an expert on, but let's talk about the winter that we are in right now. And right now, I think most of the dows
are figuring out how to best run themselves and we talked about like, "Draw does not being the best way of actually opting for a down model." And so how can these dolls actually sustain themselves? Let's crypto winter. A lot of people are
I have not really diversified the governance token to stable coins. They don't really have the runway. And so what tips can you give to these DAUs as to how they can better manage their finances and basically sustain this winter and plan along for the next bull market?
Yeah, no, I'm great point. I think he probably seen this like others who've been in space. There's been a lot of like the last few months when the bear market started a lot of thousands of going through big changes and let's keep my previous where I used to work obviously similar thing where they've had to maybe really take a hard look
look at, you know, what is our current situation and how can we best prolong itself. And I think that's where, like you mentioned, financial sustainability comes in. And the best hours, which we're going to survive and have a runaway to last and in perpetuity will be those who had awareness of
where they live from a financial perspective. That's not just important for thousands, I think that's probably important for any startup or organization where there'll be Web 3 or Web 2. So basically having that idea of where they're at from a financial perspective. And something very close to myself and my co-founders and one of the reasons we
I guess launch to reach and as well we want to help organisations like help build organisations of the future and to really be able to do that you need to really be aware of your financials and make them find, make yourself financially sustainable. So I think really taking a heart
look at what those are team structures, what we're spending on and really forecasting basically, especially you mentioned governance tokens, a lot of people haven't diverse by the way, really like being able to see into the future and forecast. Okay, if conditions change again, if I take a price
goes down by say 50% what does our runaway look like and basically being able to plan for those kind of situations and this is something I mean we we've been doing for a while it's what we did at in this group as well we're really wanting to really help organization become more
financially literate and helping them produce these kind of financial statements and dashboards that help them make informed decisions and provide the insights for their teams to act and do it back by data as well. I mean especially now is the bear market
It seems like it's much harder to raise money as well and a lot more less people are willing to invest into projects even as individuals will be taken holders. So I also add that external effects of providing you credibility by being more transparent about your finances which will probably lead you to making easier for you.
to attract new investors or people to buy your governance token etc. So I think really there is something still that needs to a lot of doubts and work on is being really transparent about their finances not just for internal reason but all for external reasons to showcase to people how credible they are.
Yeah, I think that's brilliant insight. And I just want to understand more about like if there's a style who's wanting to streamline their finances.
And what sort of help can region doing streamlining that and work years to understand what you see your role particularly as part of the agenda in helping out douse with streamlining their finances.
Yeah, no, definitely. I mean, one thing will definitely see a lot of thousands, even normal web 3 stars are not those. There will be very much focused on building their product or focus on the growth side of things.
cash will be limited and what we can do is be really be that outsource kind of financial function or that helps you set up your financial operations in a streamlined manner making it much more efficient cost effective.
And personally, we very much believe that we can provide the best financial reporting that's available in this space from our experience working across different Web3 organizations, which really provides the organizations with not just internal reporting.
which like I mentioned before will allow them to make their financial informed decisions on spend but also be able to give their investors that transparency and credibility that look where we've got a lot of runway and
We're here to stay for the long term. So yeah, region can basically help you with set up your finance functions really inform your decision making from a financial standard point and be able to provide that transparency to your external stakeholders as well.
Awesome, that's great. I can imagine so many people who would be greatly benefited by the region services. And if anybody of them is listening right now, where can they meet you, how can they get in touch with
you to streamline their finances.
other co-founders will be open to receiving DMs and will reply. So yeah, please do reach out if you need any help from a financial services perspective, whether it be financial reporting or helping set up the notes as well.
Awesome, that sounds great. And before we wrap this up, I have one question that I've always asked everyone is what is your favorite Tao apart from index because that you contributed to that, which is your next favorite Tao and why is that?
Oh, great question. I don't know if technically they count as a dowel, but I guess I really like what their building is, something called squid. So squid dowels basically build a
cross chain platform allowing you to basically swap any token cross chain and so quick and easy to use. So please do check them out for any kind of cross chain swapping needs you have. I think what they've built is very cool.
interesting. I'm going to check that out right after this space. Thank you so much Ahmad for you know jumping all this space and spending your time with us. It's always been great pleasure to have a conversation with you.
and this has been no different. Thank you again for doing this. We will be looking forward to having more conversations as we go along. It's been a great space. We will see you on the other side. Thank you so much everyone.
Thank you, as well. I know that, and yeah, definitely. You guys have been a long time partner and I appreciate the time today as well. I've enjoyed my time. So thank you, everyone. Awesome. Good to hear that. Thank you, I'm out again and signing off. Have a good day and a good night. Bye bye.