Obtaining funding for social and environmental projects has historically relied on a one-way and opaque system. Paul Zinken/picture alliance via Getty Images
Despite the boom and bust cycle of Bitcoin and its extensive family of cryptocurrencies, there is a general consensus among the tech and business community that blockchain is a real innovation bound to underpin the future of the digital world. The nascent technology is already seeing application in such areas as e-commerce, publishing and database management.And now, its eyeing a next-level mission: to save the planet.
This week, amid the climate change-themed United Nations General Assembly conference series in New York City, Brooklyn-based blockchain software company ConsenSys, led by Ethereum co-founder Joseph Lubin, unveiled a partnership with the World Wide Fund (WWF) for Natures Panda Labs (an incubating program for sustainability projectsnot just panda projects) called Impactio, a blockchain-powered platform tasked with connecting entrepreneurs, investors and subject-matter experts on social and environmental projects.
SEE ALSO: HeresWhat You Really Need to Know About Blockchain
Historically, obtaining funding for sustainability-related projects through nonprofits like WWF relies on a one-way and opaque system, where project leaders submit grant applications and keep their fingers crossed for a response from interested funders. Impactio seeks to make this process more efficient and transparent by bringing various stakeholders on to one platform and creating a feedback loop where participants can peer-review projects through a digital token-based voting process. The same tokens can also be donated by curators to chosen projects as seed funds.
There are a whole bunch of people who have great ideas, a whole bunch of people who want to invest in projects, and a whole bunch of subject-matter experts scattered all around the world. You need a trustworthy platform to serve as sort of a magnet for all these different actors, ConsenSys CEO Lubin explained to Observer. Its almost like a game, but a game with real stakes. You bring in people with expertise who want to stake their reputation and even to benefit financially.
The curation and voting mechanism is supported by a set of smart contracts, while every activity on the platform is recorded on the blockchain ledger to prevent unauthorized editing and hacking.
We face a $2.5 trillion funding gap to achieve the SDGs (sustainable development goals) by 2030. We know that this isnt necessarily due to a lack of capital or a lack of solutions. What is lacking is a robust mechanism for linking these private dollars to viable, large scale, SDG-advancing projects, Kavita Prakash-Mani, director of WWF Global Conservation, said in a statement.
Impactio was born in 2017 out of a collaboration between ConsenSys staff in Sydney, Australia and the WWF Australia team with an initial goal to incentivize people into participating in wildlife preservation in Australia, said Robert Greenfield, co-founder of ConsenSys Social Impact. But the project later evolved into one focused on reducing the operational cost of finding such projects.
During a seven-week pilot program from July 1 to August 21, Impactio attracted over 100 participants who approved 17 social and environmental projects through its token-based curation process.
Read more:
Blockchains Next Frontier: Saving the Planet (and Possibly Pandas, Too) - Observer
- Blockchain: The Complete Guide | WIRED - February 6th, 2018 [February 6th, 2018]
- What Is Blockchain Technology? - cbinsights.com - February 6th, 2018 [February 6th, 2018]
- 7 Ways Blockchain Will Enable Entrepreneurs in 2018 | Inc.com - February 6th, 2018 [February 6th, 2018]
- Blockchain technology | Microsoft Azure - March 26th, 2018 [March 26th, 2018]
- Blockchain Wallet on the App Store - itunes.apple.com - May 5th, 2018 [May 5th, 2018]
- Bitcoin and Blockchain - Bloomberg - May 5th, 2018 [May 5th, 2018]
- Blockchain - The Daily Reckoning - May 5th, 2018 [May 5th, 2018]
- BIS show London - Blockchain Conference London | FinTech ... - July 14th, 2018 [July 14th, 2018]
- 2018 Bahamas Blockchain & Cryptocurrency Conference - July 27th, 2018 [July 27th, 2018]
- WORLD BLOCKCHAIN CONFERENCE - August 20th, 2018 [August 20th, 2018]
- Azure Blockchain Workbench | Microsoft Azure - September 29th, 2018 [September 29th, 2018]
- Crypto Guru on Bitcoin, ICOs, Blockchain, ETFs, & More ... - September 29th, 2018 [September 29th, 2018]
- Dot Blockchain Media - September 29th, 2018 [September 29th, 2018]
- 75 banks join JPMorgan-led blockchain payment project ... - September 29th, 2018 [September 29th, 2018]
- Walmart will use blockchain to ensure the safety of leafy greens - September 29th, 2018 [September 29th, 2018]
- Malta wants to become 'Blockchain Island' - September 29th, 2018 [September 29th, 2018]
- Walmart is betting on the blockchain to improve food safety ... - September 29th, 2018 [September 29th, 2018]
- From Farm to Blockchain: Walmart Tracks Its Lettuce - September 29th, 2018 [September 29th, 2018]
- The Truth About Blockchain - Harvard Business Review - October 2nd, 2018 [October 2nd, 2018]
- Blockchain.io | Your Gateway to the Internet of Value - October 17th, 2018 [October 17th, 2018]
- Blockchain Whispers: The Most Accurate Crypto Signals - December 8th, 2018 [December 8th, 2018]
- MLG Blockchain - Expert Blockchain Consulting & Development - December 10th, 2018 [December 10th, 2018]
- What Is The Blockchain? - Pixel Privacy - December 27th, 2018 [December 27th, 2018]
- Blockchain Wallet: Bitcoin on the App Store - January 13th, 2019 [January 13th, 2019]
- The Ultimate Guide To Understanding What A Blockchain Is ... - March 20th, 2019 [March 20th, 2019]
- Amazon Managed Blockchain - March 20th, 2019 [March 20th, 2019]
- What Is Blockchain? The Complete WIRED Guide | WIRED - March 20th, 2019 [March 20th, 2019]
- Symmetry - March 28th, 2019 [March 28th, 2019]
- What is Blockchain Technology? A Beginners Guide - April 18th, 2019 [April 18th, 2019]
- Yosemite X uses blockchain tech to shorten payments trip ... - April 20th, 2019 [April 20th, 2019]
- BitcoinSVs blockchain is struggling with its enormous 128MB ... - April 20th, 2019 [April 20th, 2019]
- Jimmy Song discusses Bitcoin, blockchain, and the crypto space - April 20th, 2019 [April 20th, 2019]
- Blockchain on AWS - May 5th, 2019 [May 5th, 2019]
- Blockchain Login Blockchain - June 7th, 2019 [June 7th, 2019]
- German telecom giant hires blockchain professor hopefully, its a good thing - The Next Web - September 25th, 2019 [September 25th, 2019]
- Israeli Startup Creates Offline Wallet With Access to the Blockchain - CoinDesk - September 25th, 2019 [September 25th, 2019]
- Overstock seeks blockchain stock registration with SEC - CoinGeek - September 25th, 2019 [September 25th, 2019]
- Telefnica Making Provisions Not To Miss The Blockchain Boat - Forbes - September 25th, 2019 [September 25th, 2019]
- Verizon and Wells Fargo Are Getting on the Blockchain - Market Realist - September 25th, 2019 [September 25th, 2019]
- Blockchain Mortgages Could Help The Impending Recession - Forbes - September 25th, 2019 [September 25th, 2019]
- The Smartest Way to Buy Blockchain Stocks - Zacks.com - September 25th, 2019 [September 25th, 2019]
- Vodafone litters London with blockchain tokens in new augmented reality game - The Next Web - September 25th, 2019 [September 25th, 2019]
- 5 Enterprise Blockchain Stories of the Week - Forbes - September 25th, 2019 [September 25th, 2019]
- ternity Partners with Uruguay Can to Track Cannabis Production on the Blockchain - GlobeNewswire - September 25th, 2019 [September 25th, 2019]
- Putting blockchain technology to good use - ComputerWeekly.com - September 25th, 2019 [September 25th, 2019]
- Blockchain simplified: How it eliminates the middleman - Big Think - September 25th, 2019 [September 25th, 2019]
- Building On Blockchain Without Code: Proxeus Goes Live - PRNewswire - September 25th, 2019 [September 25th, 2019]
- Googles Quantum Computing Breakthrough Brings Blockchain Resistance Into the Spotlight Again - Forbes - September 25th, 2019 [September 25th, 2019]
- Five things to know about blockchain and CRE - REjournals.com - September 25th, 2019 [September 25th, 2019]
- Blockchain Technology Is Already Improving Lives At 22 Hospitals - Forbes - September 25th, 2019 [September 25th, 2019]
- How Blockchain Is Changing The Game For Social Impact Initiatives - Forbes - September 25th, 2019 [September 25th, 2019]
- The Shift Toward Decentralized Finance: Why Are Financial Firms Turning To Crypto? - Forbes - October 1st, 2019 [October 1st, 2019]
- Could Blockchain Revolutionize the Real Estate Industry? - RisMedia.com - October 1st, 2019 [October 1st, 2019]
- Cross Reality And Blockchain - A New Era Of The VR Industry - Forbes - October 1st, 2019 [October 1st, 2019]
- Vontobel to offer structured product using blockchain technology - Investment Europe - October 1st, 2019 [October 1st, 2019]
- MineRP to partner with Karuschain to adopt blockchain platform - Mining Technology - October 1st, 2019 [October 1st, 2019]
- Stellar Development Foundation proposes to disable inflation mechanism from its protocol - The Block Crypto - October 1st, 2019 [October 1st, 2019]
- BurstIQ raises $5.5M to bring blockchain to the healthcare space - VatorNews - October 1st, 2019 [October 1st, 2019]
- Mark Cuban bullish on blockchain, but would take bananas over bitcoin - The Block Crypto - October 1st, 2019 [October 1st, 2019]
- Energy Industry Blockchain Landscape - The National Law Review - October 1st, 2019 [October 1st, 2019]
- US Homeland Security grants blockchain credentialing contract to Danube Tech - Ledger Insights - October 1st, 2019 [October 1st, 2019]
- U Wyoming Spurs Blockchain Development with Hackathon 'Stampede' - Campus Technology - October 1st, 2019 [October 1st, 2019]
- How the blockchain is inspiring organizational design - Quartz - October 1st, 2019 [October 1st, 2019]
- Blockchain At The United Nations Leading Solutions To The Global Crisis - Forbes - October 1st, 2019 [October 1st, 2019]
- Exploring cryptocurrency and blockchain in Iceland - Penn: Office of University Communications - October 1st, 2019 [October 1st, 2019]
- Will Facebook's Libra Overtake Bitcoin Cryptocurrency And The Ethereum Blockchain? How Will It Work? - Forbes - October 1st, 2019 [October 1st, 2019]
- Overstock.com Hones In On Blockchain Identity With Medici Ventures And Evernym Partnership - Forbes - October 1st, 2019 [October 1st, 2019]
- How Blockchain Is Affecting The Marketing And Advertising Industry - Forbes - October 1st, 2019 [October 1st, 2019]
- Japanese Messaging App LINE Positioning Itself As Leader In Blockchain and Crypto Space - Forbes - October 1st, 2019 [October 1st, 2019]
- Could Blockchain Help the Cannabis Industry? Were About to Find Out - Observer - October 1st, 2019 [October 1st, 2019]
- Energy Blockchain Applications Expected to Experience a 67% CAGR - Transmission & Distribution World - October 24th, 2019 [October 24th, 2019]
- Blockchain Technology is Disrupting the Startup Ecosystem - Times of India - October 24th, 2019 [October 24th, 2019]
- Is blockchain the answer for sustainability in the cocoa sector? - ConfectioneryNews.com - October 24th, 2019 [October 24th, 2019]
- Blockchain voting is vulnerable to hackers, software glitches and bad ID photos among other problems - The Conversation US - October 24th, 2019 [October 24th, 2019]
- Blockchain is not the only solution for better and faster payments - Euromoney magazine - October 24th, 2019 [October 24th, 2019]
- Can blockchain restore trust to the fund management and audit industries? - Accountancy Age - October 24th, 2019 [October 24th, 2019]
- Smart contracts and blockchain will provide needed trust, says Princeton professor - TechRepublic - October 24th, 2019 [October 24th, 2019]
- Gartner IT Symposium/Xpo 2019: Blockchain strategy must evolve at the same pace as technology - TechRepublic - October 24th, 2019 [October 24th, 2019]
- Binance CEO: Putin Is the Most Influential Person in Blockchain - Cointelegraph - October 24th, 2019 [October 24th, 2019]
- Blockchain-Backed Smart Cars To Revolutionize The Road - Yahoo Finance - October 24th, 2019 [October 24th, 2019]