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Crypto membership collective TemDAO is using blockchain technology to preserve cultural and world heritage sites, with its innovative new approach potentially a game changer when its comes to heritage funding
Tom Anstey | Planet Attractions | 07 Jun 2023
Blockchain offers a new method of funding for World Heritage Credit: Canva
TemDAO - a decentralised membership collective funding heritage and cultural assets - has come up with an innovative way to offer democratic funding and preservation of world heritage sites.
The groundbreaking approach uses blockchain technology to fund these assets, with members using TEM crypto tokens to govern the organisation’s structure and its decision-making processes.
The process works by attaching pre-screened heritage projects and IPs to NFTs, making them liquid and transferable assets that are recorded on-chain, eliminating the risk of corruption and creating a secure and accountable environment. Donors to heritage projects then receive special opportunities for their offering, such as the opportunity to stay in historically significant parts of a cultural site.
This cryptocurrency approach, says TemDAO, represents a new way of thinking about the role of digital assets in promoting cultural heritage and sustainability.
“We are bridging the past and the future, combining innovative technology with cultural heritage,” said Kei Sugimura, TemDAO’s marketing director,” speaking to Forbes.
“Through our project, we are leveraging the powers of democracy and blockchain to preserve and protect the world's most precious cultural assets.”
TemDAO has parted with The Giving Block - a leading crypto charity - on the venture, with the group opening new revenue streams for charitable organisations while reducing the crypto tax burden for donors.
Most recently, the project has made substantial donations to bolster preservation efforts in Ukraine and Turkey, aiming to help communities maintain their heritage during global crises.
Heritage
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