5 Innovative Blockchain Projects Transforming Social Impact and Community Engagement
Blockchain technology has long been associated with finance and supply chain management, but its potential extends beyond these fields. Outside cryptocurrencies like Bitcoin, blockchain technologys transparency and security are now used to address social and environmental issues while promoting accountability and community involvement. In this list, well explore five innovative blockchain projects that bridge the gap between technology, charity, and community engagement, making a meaningful difference in the world.
1. Philcoin: Empowering Communities with Give-to-Earn
Launched in March 2021, Philcoin is a blockchain-based philanthropic ecosystem that empowers developing communities through its unique Give-to-Earn concept, accessible Web3 services, and impactful social initiatives.
Its main goal is democratizing access to financial resources, education, and internet connectivity. Thereby addressing the limited internet issue, as highlighted in the State of Mobile Internet Connectivity 2021 report.
What differentiates Philcoin?
1. Decentralized mesh network
Philcoins platform operates on a decentralized mesh network that ensures secure and transparent transactions, allowing users in remote areas to access the platform even with limited internet connectivity.
2. The PHILApp
The PHILApp incentivizes positive social actions through Give-to-Earn features and serves as a one-stop shop for communication, commerce, education, finance, media, and entertainment.
3. Give-to-Earn
With Philcoins Give-to-Earn model, users earn PHL tokens for social contributions like chatting, learning, and philanthropy. Rewards are accessible only after sharing 50% with others, fostering a culture of giving.
Impact: How Philcoin has promoted social impact engagement
Philcoin has made significant impacts, such as partnering with Repton Family of Schools to reward students for academic excellence and raising over $10 million to re-home war-displaced individuals in Ukraine. With over 1.7 million PHL tokens donated worldwide, a global reach of over 250 million people, and a user base of 250,000 individuals, Philcoin has made a tangible impact.
Future outlook for Philcoin
Partnering with social impact organizations will further expand its reach and solidify Philcoin as a catalyst for positive change through transparency, efficient giving, global accessibility, and community involvement in the near future.
2. Giveth: A Web3 Platform For Public Goods Funding
Established in 2016, Giveth is a decentralized autonomous organization (DAO) on the Ethereum blockchain dedicated to facilitating public goods funding. It addresses inefficiencies in traditional philanthropic models by creating a transparent, community-driven ecosystem for social impact projects.
What differentiates Giveth?
1. GIVbacks
Giveth rewards users that donate to verified projects using GIVback rounds. These rounds typically last 2 weeks and the donors are rewarded with GIV at the end. To make their donors eligible for GIVbacks, projects must apply for verification at least a week before the rounds start.
2. GIVpower
GIVpower is designed as a win-win situation for both projects and their donors. When donors earn GIV from GIVbacks, they can stake their GIV or lock it up in a GIVfarm to earn GIVpower. Donors can then use their GIVpower to boost their favorite projects ranking on giveth and give them more visibility.
3. The givers NFT collection
A unique collection of 1250 PFP NFTs representing the Giveth community, with each Giver featuring customizable traits and backgrounds.
Impact: How Giveth has promoted social impact engagement
Since its inception, Giveth has supported over 3,435 projects on Giveth with over $2 million in donations.
The platforms community-driven approach nurtures a sense of ownership and participation among donors and project creators. It also provides a space for social impact projects to gain visibility and build supportive communities.
Future outlook for Giveth
Giveth may continue developing new products and donation mechanisms to expand its impact in the social sector. Future developments may include integrations with additional blockchain networks and the growth of its decentralized governance model.
3. BitGive: Blockchain For Global Philanthropy
Founded in 2013, BitGive is the first non-profit organization to leverage blockchain technology for a more efficient and transparent global charitable donations. As the first Bitcoin 501(c)(3) nonprofit, BitGive bridges the gap between innovative technology and humanitarian work to facilitate secure and traceable cryptocurrency donations.
What differentiates BitGive from others?
1. GiveTrack
BitGive flagship blockchain-based donation platform that provides real-time transparency and accountability. Thus, enabling donors to track their donations and see the impact of their funds.
2. Bitcoin and cryptocurrency acceptance
It leverages the benefits of cryptocurrency to enable secure, efficient, and cost-effective donations.
3. Transparency and accountability
Provides a clear and publicly accessible record of fund allocation and project progress, thus, promoting trust and credibility.
Impact: How BitGive cuts through the noise for increased social impact engagement
BitGive has partnered with notable entities like UNICEF, Save the Children, and The Water Project, impacting over 51,000 people across 27 countries in Africa, Asia, the Middle East, and the Americas. These partnerships enhance its credibility and reach.
BitGive has enabled individuals to support international projects they care about by removing barriers to global philanthropy like cost implications of making donations across borders.
Future outlook for BitGive
BitGive could potentially explore ways to integrate Decentralized Finance (DeFi) protocols. This could allow donors to earn interest on cryptocurrency donations while supporting charitable causes, creating a win-win situation for donors and the organizations they empower.
4. Alice: Making Social Funding Transparent
Alice, founded by Raphaël Mazer in 2016, is a blockchain-based platform that addresses the persistent issue of mistrust in social impact investing. The platform aims to bridge the gap between donors seeking impactful projects and organizations needing funding for social good. Alices primary goal is to rebuild trust in the charity sector by incentivizing transparency and providing a reliable system for tracking project outcomes.
What differentiates Alice from the pack?
1. Incentivized transparency
Alice motivates charities to disclose verifiable data about their projects progress and outcomes, ensuring donors can make informed decisions.
2. Smart escrow contracts
Alice employs smart escrow contracts to hold donated funds securely. These contracts act like digital safety deposit boxes, releasing funds only when project validators confirm the achievement of pre-defined goals.
3. Impact-based funding
Alices platform focuses on outcome-based funding, allocating resources to projects demonstrating tangible social impact.
Impact: How Alice has promoted social impact and engagement
Alices impact has been significant, with the platform launching the first blockchain donation platform in real-world conditions. Alice has collaborated with St Mungos to help homeless individuals find permanent housing. The platforms effectiveness is further demonstrated through partnerships with esteemed institutions like Imperial College London, Google for Startups, the Vodafone Foundation, and Cancer Research UK. These collaborations further strengthen Alices credibility within the social impact ecosystem.
Future outlook for Alice
The platform may have plans to expand its reach globally, potentially collaborating with governments to bring transparency to public funding and social programs. This could change the way social good is financed and empower communities worldwide.
5. The MediLedger Network: Transforming The Pharmaceutical Supply Chain
The MediLedger Network is a prime example of how blockchain technology can change an entire industry. Focused on enhancing efficiency, transparency, and security, MediLedger addresses critical challenges like counterfeit drugs in the supply chain, from manufacturers and distributors to pharmacies and patients.
Its goal is to safeguard patients health by guaranteeing the authenticity and quality of medications.
What differentiates Mediledger from the pack?
1. zk-SNARKS
MediLedger utilizes the zk-SNARKS zero-knowledge encryption protocol to boost transaction confidentiality. This technology ensures high levels of privacy by allowing verification without revealing personal data between the verifying party and the one providing the proof.
2. Permissioned Blockchain
Unlike public blockchains like Bitcoin, MediLedger utilizes a permissioned blockchain. This means only authorized participants can access the network, ensuring the confidentiality of sensitive data while still maintaining transparency within the trusted ecosystem.
3. Real-time tracking and supply chain transparency
The network enables real-time tracking of pharmaceuticals throughout the supply chain. This allows for faster identification and response to potential issues like counterfeiting or temperature breaches, ultimately safeguarding patient safety.
Impact: How Mediledger has promoted social impact engagement
MediLedger has validated transactions for over 28,000 pharmaceutical companies, including major firms like Pfizer and Bayer, Genentech, Gilead, and Amgen. Whats more, the network has significantly reduced the production and distribution of counterfeit and illicit drugs globally since its launch.
It has also streamlined communication and collaboration between stakeholders, leading to faster delivery times and lower costs.
Future outlook for Mediledger
MediLedger may integrate advanced data analytics to identify potential disruptions and further optimize supply chain logistics.
Conclusion
The future of social impact has never looked brighter, and its just getting started. These five projects provide a glimpse into the transformative potential of blockchain technology for social impact and community engagement. By leveraging decentralization, transparency, and security, they create innovative solutions that empower communities, promote responsible giving, and drive positive change. As blockchain technology evolves, its role in addressing social and environmental issues will only become more prominent, reinforcing its importance beyond traditional applications.
Disclaimer: The Crypto Cable section features insights by crypto industry players and is not part of ZyCryptos editorial content. ZyCrypto does not endorse any company or project on this page. Readers should conduct their own independent research before taking any actions related to the company, product, or project mentioned in this piece.
Text source: ZyCrypto
