Decrypt: The do-gooder aspects of Blockchain

LET me share how blockchain is unleashing social impact by highlighting some critical use cases. One such initiative is the Meta Bank Defi.
Decrypt: The do-gooder aspects of Blockchain

Delhi: They are developing a mixed reality metaverse business district by combining virtual reality with the decentralisation of blockchain technology to provide users with means to monetise their online experiences. They empower all, irrespective of race, sex, wealth, political views and religion. Creating a district where individuals can earn, learn, teach, live, buy, sell, educate, play and have the opportunity to build generational wealth. They are creating a platform where individuals can donate time and teach someone a skillset and earn rewards. Metabank Defi is going to impact all by providing opportunities to educate or teach skillsets so individuals can earn in a digital world, to break the cycle of poverty. They have also developed a digital identity in developing countries.

Another innovative use of the technology is with ‘Digital Arts for Social Impact’ (DASI). Many poor families rely heavily on begging to feed their families. It is extremely uncertain and demeaning for a person to live hand-to-mouth on a daily basis. DASI’s goal is to show them an alternative. One that will allow them to learn and develop in a way that will enable them to support themselves and their children into the future. The innovative collection of NFTs minted on the blockchain collaborates with global artists. Proceeds of the sale of these NFT’s go towards the future education of these underprivileged children and improve the living conditions of kids in the rural communities around the world. The mission started in Cambodia is now moving rapidly to India, Thailand, Brazil, Nigeria and several countries.

A programme close to my heart is the SEA project. I do not know if most are aware that we have ONLY 10 years to save our oceans as they get impacted by pollution, warming, overfishing and habitat destruction. Like the oceans, virtually every natural ecosystem on earth is an equally urgent state of crisis. There is still time to save our planet and the time is NOW! To mitigate this impending concern, a climate impact project - SEA - is revolutionising the way data will be collected to monitor environmental variables and stored on the blockchain.

The Ofoma Project is another project connecting the artisan community globally by leveraging blockchain. The project serves as a driver behind creating a decentralised ecosystem that offers incentives, a crypto wallet, a marketplace, NFTs, and a humanitarian coalition. It leverages a utility token designed and built to drive social impact through an ecosystem that promotes marginalised artists and artisans across the globe and enable artists and artisans to scale beyond their local economy for developing regions such as Africa, India, Bangladesh and more through a social impact ecosystem that includes the world’s first blockchain integrated multi-vendor artisanal marketplace, NFT factory and Metaverse. In addition, contributing towards the sustainable development goals that includes poverty alleviation for people and communities we are engaged with. There are so many more. But the bottom line is technologies like blockchain are opening a world of opportunity for positive social impact. We are inspired every day by our collaborations with enterprises, governments and NGOs that make this a more inclusive, fair and sustainable world. Because when the world is a stakeholder, how you grow matters.

(The writer is Founder, India Blockchain Alliance)

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