What Is a Multisig Wallet?
This is a digital wallet that has the semblance of a joint account. The major characteristic here is the fact that they require authentication signatures from more than one person.
In a Multisig Wallet, we have a minimum of two who jointly own a single wallet and for this reason a minimum of two or more private keys are required to validate a transaction performed by this account.
Besides creating better security, it also decentralizes ownership and control of the account. It's close to a perfect solution for group owners of an account or wallet.

Multisig Wallet create a true community owned wallet. A wallet that can really be owned by a group with members of the group having balanced rights over the resources in the wallet. Transactions can only be made when the group unanimously agree and append their diffent keys, making it impossible for one person to decide and execute without the concent of the others.

A Multisig Wallet/account is the best solution for a true Steemit community account or wallet. The implementation of a Multisig Wallet on community accounts will mean that a single user can not hold absolute power over a community account. The power will be in the hands of those who function as the management of the community.

Yes I think the Multisig Wallet will be effective in the management of Steemit community accounts. To enforce checks and balances, I would suggest the authentication keys be shared among all community moderators. If a person is deemed fit to be a moderator then such should have a key and a power down shall only be effected when we have a majority of keys entered in support of the action.

If I had a community, I would adopt the Multisig Wallet Initiative and will also love to associate with a community that is open and willing to adopt this Initiative.

As mentioned earlier, the admin and all who is deemed fit to hold the mantle of content moderator in a community should have a key, so only dedicated and trusted users who have the vision of the community should be privileged to hold a community key.
This will give such moderators the willingness to put their best in advancing the interest of the community without fear of uncertainty.

• The management of a community will have to communicate and work together, so as to have a unanimous conclusion when it comes to dispensing of funds.
• Users will have more confidence in communities as the will truly become communities and not a person's legitimate second account that could be grained at anytime.
• Curators will egally support community accounts knowing that the risk of a power down and run is minimized by the Multisig-wallet arrangement.
• Community moderators will be wholehearted in their services to the community knowing that it is their community and not a person's private business.
• Administrators and founders of communities will not handle matters as if it was their personal businesses.
• Most importantly, communities will truly be communities and their growth will be exponential as support will be whole hearted.

I will love the following Steemians to participate in this contest @bela90 @oasiskp @udyliciouz