ConsenSys Sets Blockchain for Social Impact

Announcements, Blockchain, Group, Innovation, Investing | July 10, 2017 By:

New York-based blockchain specialist firm ConsenSys has launched the Blockchain for Social Impact Coalition , a new initiative focused on humanitarian efforts.

BSIC aims to incubate, develop, and implement confederated blockchain products and solutions that can address social and environmental challenges across the United Nation’s Sustainable Development Goals.

ConsenSys said the initiative will demonstrate the promise of blockchain technology to increase transparency, accountability, and efficiency in humanitarian organizations and improve the lives of the individuals they aid.

The first meeting of BSIC was held recently, with participation by 22 member organizations. The companies that are part of the coalition include EduDao, Disberse, High Tech Humanitarians, Logos Global Advisors, MIT Solve, New America: Future Property Rights, Nordic Impact, slavefreetrade, Sustainability International, World Wildlife Fund, ALICE and Tata Consultancy Services.

The participants discussed the challenges of collaboration across industry sectors, and how each sees blockchain use cases unfolding towards humanitarian efforts.

BSIC has identified four target areas as initial launch points: Identity & Vulnerable Peoples, Energy & Environment, Supply Chain, and Financial Inclusion. Members will self-select into Working Groups to collaborate on one of these specific areas.

The members will be working on their own projects of choosing, collaborating with each other. In addition, to monitor the progress, the working groups will be meeting every month, identifying key initiatives, exchanging feedback, and create a strategy for further implementation of the project.

BSIC will also hold a month-long virtual Hackathon later in the year where teams will be able to consult with experts through a variety of in-person and virtual events.

“We now have a confederated group of organizations, from a broad range of impact sectors, dedicated to exploring the potential blockchain technology has to aid those in need, and to creating, testing, and implementing the necessary solutions,” said Ben Siegel, Impact Policy Manager at ConsenSys.