My thoughts on Multisig -wallet #1 : The best choice for steemit Communities

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_{Multi-sig wallets will be one of the best things that can happen in Steemit, as more trust will be seen in Steemit Communities among community founders and MODs. Before going further to throw more light on my thoughts on a multi-sig wallet, I would like to thank the organizer of the contest, @ubongudofot, and the team behind the multi-sig wallet, who are: @freelance.monkey, @pennsif, and @rexthetech, for doing a great job that will bring trust to Steemit Communities. My thoughts and others are discussed below.}

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What are your thoughts on a multi-signature wallet and on Steemit communities?

I think a multi-sig wallet is a good way to grow Steemit communities and build trust among community founders and MODs. Every well-established organization has more than one signatory to the organization's funds, which is a good way to build the organization. I strongly believe that with the help of a multi-sig wallet on Steemit communities, communities will grow stronger, and everyone, both the founder and MODs, will be working for the common growth of the community and not for personal interests.

We have been seeing how community founders power down their community accounts and go away with all the funds without even compensating those that contributed to the growth of the community. This is exactly what I am facing right now, and more of it will be shared as you keep reading. In conclusion to my thoughts on a multi-sig wallet, I am confident that it is a way to build trust in communities and make them grow. It will stop the unnecessary withdrawal of funds by one person. With multi-sig wallets, funds can be withdrawn based on the approval of other users who are also part of the multi-sig wallet signing.

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Do you think it will be effective in a community?

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I am 100% confident that it will be effective in a community. One of the ways that it will be effective in a community is that it will help the community grow its account, which will also build trust between the community founder and MODs. It is very annoying for someone to work so hard for a community and get disappointed at the end of the day simply because the community founder has to change the community keys and power down the community account.

I believe a multi-sig wallet will be more effective in stopping one person from carting away community funds. It will help everyone who has worked endlessly for the growth of a community to benefit from the community funds whenever those in charge have agreed to power down.

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Will you like your communities to adopt this Initiative?

Yes, I will like my community to adopt this initiative, but it is too late for my community to adopt this initiative because the community founder is currently powering down the community account without my notice or rewarding me for the efforts I put into growing the community.

Just like I said earlier, it is very annoying to work tirelessly for the growth of the community and be left behind at the end of the day. Thank God for this wonderful initiative developed by the @pennsif.witness team. To do this, I can only work with a community that has adopted this initiative.

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Who do you think should be among the signatories in each community, and why? (I will carefully interact with you through this particular question.)

I think three users in each community and an SC01 or SC02 account, making it four, should be among the signatories in each Community Account.

The reason why I think three community users from different countries and SC01 or SC02 should be among them is that allowing just two or three users from the same country to be among the signatories In each Community wouldn't in any way bring trust to the community account because both people could easily agree to withdraw funds from the community account.

At least the founder of a community, two moderators, one at least from another country, and SC01 or SC02 should be among the signatories in each Community. With this, the community can grow well.

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What Impact can this have on communities that adopt this initiative?

Any Communities that adopt this initiative will eventually grow well.

• The communities will be trusted.

• The community founders and MODs will have one understanding and working towards achieving a common goal.

• The issue of Jealousy, envy, and all sorts of fighting will be reduced in any community that adopts this initiative.

• Both founders and MODs will benefit from the Community funds.

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Conclusion

Multi-sig wallet is the best way Communities can work perfectly. I am happy to see that such an initiative has been developed on Steemit, which will help improve Communities' growth and trust. I am inviting: @ruthjoe, @kouba01, and @pelon53.