Made in Africa, Sold Around the World

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IXO Foundation is a software development organization that has developed a blockchain system for impact measurement in South Africa. Traditional impact measurement methodologies are problematic because of their obscurity; they don’t have objective criteria or standardized scientific methods for measuring impact. And yet all impact investors endeavor to measure impact with the same clarity that is used to assess financial metrics in traditional markets. IXO tackles this challenge by creating verified impact claims, or “proof of impact” protocols. For example, in a project that uses the IXO system to support child development and school attendance, children are given digital self-sovereign identities connected to a blockchain system (via an app); this allows teachers and students to mutually agree to and approve activities (e.g, day-to-day school attendance), which triggers the achievement of a successful impact event. The app can then securitize these impact events into blockchain tokens, which can serve as verified records of impact data that can then be submitted and redeemed for government subsidies. If this approach is developed and scaled, the value-add for impact investors would be significant: With transparency and reliability integrated into impact measurement frameworks, investors could gain a more nuanced understanding of impact throughout their investment-selection process. For those interested in learning more about tokenized impact measurement and information assets in general, read the following report from IISD.

As governments and other entities begin to adopt these types of solutions, blockchain service providers will be able to increase their consumer base, expand their footprint, build profits and attract japan whatsapp number data additional investment – naturally, consumers will also benefit from the innovative solutions blockchain can provide.

But these initiatives are just a drop in the ocean that is blockchain. At the macro-level, blockchain is being used creatively in projects around the world to build economies for the unbanked and unregistered, incorporate transparency into supply chains, facilitate effective philanthropy, establish tamper-proof records, promote decentralized governance, create peer-to-peer markets, provide self-sovereign identity, and more. Perhaps most importantly, blockchain is playing an ever-increasing role as a foundational technology for the infrastructure behind Web 3.0, the next evolution of the internet; Gemini offers a thorough explanation of this development.

This is an exciting space, one that I anticipate will only become more interesting. In fact, there is now a dedicated coalition established for the advocacy of blockchain as a force for social impact. If you’re involved in an impact-focused organization or project, it’s worth considering how blockchain technology could be leveraged in your work.