The United Nations Development Programme (UNDP) has recently written an extensive blog post on their forays into the world of Blockchain and distributed ledger technologies – and have clearly indicated they believe that the technology could provide a more effective way of transferring and tracking funds and lead to a shift in its strategy in line with latest developments in this field.
Ten months ago we had an eclectic group of people introduce a slew of new financial mechanisms- Blockchain based cash transfers and impact bonds for reducing recidivism to forecast based finance for disasters and peer to peer lending for SMEs- emerging into what the ODI calls a new ‘age of choice’ for the development finance.
We tackle this topic not just because there is a $2.5 billion gap in funding the current SDG agenda (even though ODA flows to developing countries continue to increase year on year). We are more tickled by the sheer explosion of money coming from other sources of funding that aren’t high on the priority list of either development organizations or governments (admittedly this is fast changing)- the European alternative finance market grew by 144% in 2015, the global impact investment market is projected to grow over $3 trillion in the coming years, and crowdfunding investments reached $37 billion in 2015 (by way of comparison, this is about ⅓ of total ODA totaling $131 billion in 2015).
This tickle gave birth to a sort of an Alternative Finance Lab we’ve (unintentionally) began running out of Istanbul. What skills do our clients need to tap into some of these new sources of funding? Is the effort worth it given the experimental nature of some instruments and the fact that they are way ahead of existing legislation in most countries we work in (think Blockchain based remittance transfer)? Many of the mechanisms are preventative in nature and require a shift to costing future liabilities (think of a financial value on the cost society bears from youth unemployment- what does a ‘log frame’ for that type of a project look like?
In Serbia, the UNDP is working with AidTech (check out their prize winning prototype on reducing fraud in cash transfers for refugees in Lebanon) to design a proof of concept for remittance transfers over Blockchain that would be cheaper (in looking to cut out an intermediary a la Western Union) and targeted toward specific needs (think using remittances to pay energy or phone bills and purchase food). There are several similar initiatives ongoing (check out these Tunisian start-ups redefining remittances transfers with Blockchain) but for them this is a first. In Moldova, they are testing whether Blockchain can provide a more effective way of managing the UN car fleet together with EmerCoin and DeePlace. They mention that they have been inspired by a decentralized ride-sharing outfit in Israel, Lazooz and driver-owned car sharing start up Arcade City. When it comes to UNDP’s emergency response in employment, they say they have a hunch that Blockchain could provide a more effective way of transferring and tracking funds, and shifting our strategy in line with what is happening in the field– this is a work in progress though but one they are clearly excited about.
We’re cooperating with the Joint Research Center of the European Commission (check out an impressive line up of people they’ve had for a discussion on distributed ledger technologies a few months back) on design of a challenge prize for social applications of Blockchain that would (hopefully) incentivize use cases that go beyond financial sector. The speed of progress in this field has been staggering with new use cases popping up across just about all priority sectors for our client governments- for example, the UK government just published research showing how digital currency based on the distributed ledger could up the GDP by as much as 3%. Others include Blockchain based micro energy grids, land registries (Georgia) and election platforms (Ukraine’s Parliament), defrauding distribution of natural disaster relief funds (Italy) and philanthropic donations, managing and tracking the cross border SME trade,boosting girls education and storage of cultural heritage in political conflicts to name a few.
Read more here.
- Humaniq Opens Pre-order Fund for ICO - March 27, 2017
- OpenLedger’s Apptrade (www.apptrade.io), the platform creating “Kickstarter for Apps on the Blockchain”, has received a $100,000 USD boost from OpenLedger ApS, the world’s first blockchain powered conglomerate. Powered by the digital token APPX, Apptrade creates portfolios, or groups, of apps, where if one of those apps becomes the next Instagram or Angry Birds, then the value of the portfolio rises. Ronny Boesing, CEO of OpenLedger ApS, explained that Apptrade’s initial token offering (ITO) changed its valuation in the middle of its crowd sale as an immediate response to the result of its preliminary offering. Boesing said, “The Apptrade platform is much too important to not succeed, and it was clear that we needed to adjust the valuation to make it more appealing to anyone deciding to participate. In addition, we wanted to show our belief in this project, and felt that there was no better way to show this than putting our money where our mouth is. OpenLedger will be adding a total of $100 000 USD to the Crowdsale over the next 7 days.” The minimum fundraising goal is $1M USD with a cap of $5M USD. With a total of 8.25M APPX tokens on offer, OpenLedger’s Apptrade ApS will back these tokens with 20% of the future revenue from the Apptrade platform, and any unsold tokens will therefore be distributed proportionally to all participants. All early bird participants, as well new participants, will receive the extra tokens according to the published Stage 1 structure, plus benefit from the additional tokens to be divided. Daniel Pineda, Founder of Apptrade says, “After listening carefully to feedback from public and private supporters, and with great consideration, we decided to update our master token valuation. We firmly believe that our platform, built on the ecosystem of OpenLedger and powerful BitShares financial trading technology, is a strong Blockchain project that will be a success for years to come. We feel that this is the right action to ensure a satisfactory outcome for all.” Apptrade’s final valuation is going to be based on the amount raised, whether $1M USD as its threshold or money back guarantee, or the maximum of $5M USD. The valuation of the Apptrade platform will be determined on what is raised. The deadline according to the escrow agreement is set to end on April 30 2017. Boesing continued, “This approach and change of valuation resulted from requests from within the community, and we hope to accommodate many more participants. But one thing is clear to all of the Early Birds – this is your lucky day!” - March 27, 2017
- Factom Launches Revolutionary Blockchain Suite of Mortgage Products - March 24, 2017
- Qtum Shatters ICO Records Raising $15.6 Million - March 24, 2017
- Blockchain Startup Sphre Announces ICO (Crowdsale) for Digital Identity Platform Called Air - March 22, 2017
- Kestrel sign ups to MTI’s blockchain driven solutions to deliver global growth - March 22, 2017
- The G20 Countries Should Investigate Blockchain Technologies to Build an Inclusive, Transparent, and Accountable Digital Economy for All - March 21, 2017
- Particl, a Distributed Marketplace Rethinking Privacy’s Future – Announced Seed Round - March 21, 2017
- ZrCoin To Do Initial Coin Offering (ICO) to Crowdfunds Commodities Option - March 21, 2017
- Canada’s Scotiabank and AlphaPoint Announce Successful Blockchain Trial - March 21, 2017
- Canada’s SecureKey taps IBM to put identity on the Blockchain - March 21, 2017
- Blockchain Startup Humaniq Launches London Office - March 21, 2017
- QRL Recruits Testers for High Security Quantum-Resistant Blockchain - March 20, 2017
- Blockchain of Things, Inc. Releases Paw Advanced REST Client Integration - March 19, 2017
- ConsenSys Named Official Blockchain City Advisor for the City of Dubai - March 16, 2017
- Bloq Launches BloqLabs to Connect Enterprises with Open Source Blockchain Innovations - March 16, 2017
- Multi-Million Dollar Research Institute Launched to Explore Blockchain Use Cases, Opportunities and Challenges - March 16, 2017
- Chamber of Digital Commerce Forms the Blockchain Intellectual Property Council - March 16, 2017
- Orebits & Symbiont Deploy Blockchain Technology to Digitize Gold Ownership - March 16, 2017
- Blockchain Capital to Raise its Third Fund via a Digital Token Offering in The First Liquidity-enhanced Venture Capital Fund - March 16, 2017
- The Exscudo Channels App Is A New Mobile Wallet And Secure Messenger - March 14, 2017
- Dao.Casino – Decentralising the Gambling Economy - March 14, 2017
- Chain of Points Adds American Internet Entrepreneur Jeff Pulver to Board of Advisors - March 14, 2017
- Nasdaq Releases NYIAX – A Blockchain-Enabled, Cloud-Based Media Trading Platform - March 14, 2017
- Lunyr Announces Crowdsale for the First Decentralized World Knowledge Base on Ethereum - March 14, 2017
- Coinsource, World’s largest bitcoin ATM network, Completes Historic Bulk Installation on US West Coast with 35 ATMs - March 14, 2017
- Bitwala Offers Bitcoin to M-Pesa Services in Kenya, Nigeria, Uganda, and Tanzania - March 12, 2017
- US SEC Regulators Reject Bitcoin ETF, Price Plunges, Recovers - March 11, 2017
- Google’s DeepMind plans Blockchain Health Record Tracking for Hospitals - March 10, 2017
- Coalition Forms to Address Digital Asset Taxation Uncertainty - March 10, 2017
- Livecoin, the Fourth Largest Altcoin Exchange Is Now Available in Eight Languages - March 9, 2017
- Australia Releases Blockchain Standards Roadmap - March 6, 2017
- Hyperledger Fabric Graduates with Honours – It’s Live! - March 4, 2017
- TaaS, the First Fully Transparent Closed End Fund Dedicated to Blockchain Assets, Adds International Banking and Marketing Experts as Advisors - March 2, 2017
- Kraken Acquires Cryptowatch and Launches New Trading Platform - March 1, 2017
- Switzerland’s Crypto Valley Association Founded To Build World’s Leading Blockchain and Cryptographic Ecosystem - March 1, 2017
- Massive Launch by Blockchain Industry for New Enterprise Ethereum Alliance - March 1, 2017
- Monax Joins Hyperledger Project, Brings Ethereum Technology - February 28, 2017
- Chain of Points Adds Internet Pioneer and iPayYou Founder Gene Kavner to Board of Advisors - February 27, 2017
- Chamber of Digital Commerce and Structured Finance Industry Group Partner to bring Blockchain to Securitization - February 27, 2017
- Blockchain Startup Bloq Acquires Blockchain Analytics Pioneer Skry - February 27, 2017
- Edgeless.io Launches its ICO to become the first fully transparent Casino, Offering 0% Edge - February 27, 2017
- Storj Labs Raises $3 Million in Seed Funding - February 26, 2017
- Northern Trust And IBM Pioneer Use Of Blockchain Technology To Help Transform Private Equity Administration - February 26, 2017
- 0x – An Open Protocol for Decentralized Exchange on the Ethereum Blockchain - February 26, 2017
- Global Blockchain Project FERMAT Announces Significant Alpha Release for the “Internet of People” - February 26, 2017
- Blockchain Startup Peerplays Raises $4m Before ICO Even Kicks Off - February 26, 2017
- Numerai Launches Cryptocurrency and New Hedge Fund Built By Data Scientist Network - February 26, 2017
- Disrupt the VC Industry? Brock Pierce and Blockchain Capital to Launch Own Cryptocurrency and ICO - February 26, 2017
- SoftBank, Sprint and TBCASoft Partner in Blockchain Technology for Telecom Carriers - February 25, 2017