7 Replies Latest reply: Mar 7, 2018 10:10 AM by 870709 RSS

    Green Finance Outreach Session -- Topic: Green Fintech -- Feedback by 28 Feb 2018

    kmzz C4D Expert

      Dear all,

       

      I would like to invite those of you working on Green Fintech and those of you interested in Green Fintech in joining me to explore the topic further (Fintech Definition | Investopedia).

       

      Together with you and some selected specialists (tbd), I would like to find out the state of play re. how blockchain technology can be of support to sustainable livelihood business models and/or eco-system pay?

      • Understand the technical needs for implementing approaches of eco-system pay/PES (environmental services, or climate change mitigation-related services)
        (Payment for ecosystem services - Wikipedia)
      • Understand the application areas of eco-system pay approach to achieve and support sustainable livelihoods - e.g. "e.g. rainforest-friendly cocoa farming" - farmers receive reward for maintaining a clean watershed, or stabilising soil
        (one way to define Sustainable Livelihoods = "capabilities, assets and activities required for a means of living which can cope an cope with and recover from the stresses and shocks and maintain or enhance its capabilities and assets both now and in the future without undermining the natural resource base")
      • Understand the technical possibilities with blockchain (including crypto-currency, but especially looking into other qualities like verification of environmentally desired results) to support the above, as well as its environmental footprint of the technology per se
        (Blockchain Technology | Blockgeek)


      In a first step, we would together discuss our understanding and mutually learn from each other. Then, we can consult selected specialists to give us further insight on specific aspects which we would like to see clarified.


      Anyone interested in joining, please let me know by Wednesday 28 Feb 2018, which is in a week from now.

      Kindly share your thoughts and experience with the topic, as well as your ideas who would be the best experts to interview / consult for the above.


      Here comes some pre-read for those interested:

      7 ways blockchain technology can help the environment by Future Thinkers

      Have a great week!

      Karin

        • Re: Green Finance Outreach Session -- Topic: Green Fintech -- Feedback by 28 Feb 2018
          wt48 C4D Extraordinaire

          Great post Karin,   I am writing this morning while attending a California International Trade Development (CITD) event about International Trade Financing for business development.  More than 2 dozens participants coming from the Inland Empire (San Bernardino and Riverside counties) in California, several of which are in various  'green' businesses.

           

          I am trying to incorporate into my discussions today information you have provided about Green Fintech...

          • Re: Green Finance Outreach Session -- Topic: Green Fintech -- Feedback by 28 Feb 2018
            870709 C4D Extraordinaire

            karin merle thank you for kicking off and moderating this important discussion. As a Blockchain and bitcoin novice, I really appreciate the resources for beginners you and Olha Krushelnytska have shared.  I also received a bitcoin 101 course from a friend/bitcoin investor during a recent hike in Arizona.

             

            I worked for 30+ years in nonprofit capacity building - so I was most interested in emerging conversation re: how blockchain and crypto currencies could "Help Nonprofits".  One sample article: How Blockchain will make philanthropic organizations better seemed to make the argument that most nonprofits especially large nonprofits with global reach are not needed, making the points that Blockchain would efficiently and effectively deliver cryptocurrency directly to the beneficiaries  of disaster, example in Haiti after its devastating earthquake a few years ago.

             

            A few thoughts:

            • The author of this article, never really covered the "how" - Blockchain would validate/verify who the recipients should be - example a Red Cross Volunteer, an accountant by training, shared with me the story of how individuals would come to a Red Cross Center in Arizona and ask for reimbursement for being displaced in New Orleans by Hurricane Katrina. As she asked the potential "client/direct recipient" a few questions, she was able to verify that he had never lived in the State of Louisiana, his license and other materials showed he was a long time resident of Arizona, but thought he could get some of the "money" donated by the American people for disaster relief.
            • For the Haiti disaster - Red Cross staff (paid) and volunteers deployed within days to provide relief/and serve as interpreters for Haitian Nationals on US Navy Hospital ships in Haitian harbors. How does blockchain provide this human to human care, connection and response.
            • For the Indonesian Tsunami - the Red Cross helped identify - qualified and trusted on the ground local NGOs to assess needs and disperse funds for rebuilding housing and other recovery efforts.  How will blockchain sort through the thousands of emerging NGOs after a catastrophic event to identify the ones that can be trusted to validate client/direct recipient needs and disperse donated funds efficiently and effectively?
            • Last points, from my Bitcoin 101 from my friend, I learned that a) that Bitcoin is not yet ready to be a real currency for micro donations, or micro disbursement for a donor who wants to donate $25, 50, 100, or even 500 dollars to direct recipients. And then there is the issue of Trust, would I or other donors, who do not really understand or trust Bitcoin or other cryptocurrencies, be willing, after a catastrophic disaster or any disaster (the American Red Cross responds to 70,000 disasters each year), donate to a Portal (Operated by an unknown entity that likely would take a few dollars of every donation as its processing fee) and trust that it would deliver almost every dollar to direct recipients in a foreign country or even in the United States, plus we need learn how to buy and transfer cryptocurrency to submit to the portal? I guess I am still focused on the "How".