Please describe your proposed solution.
<u>Pre-funding </u>
Sustainable ADA has been focused on Impact Measurement since fund 6, and the team has past experience with in-depth universal impact assessments like the SDG, B-Impact, and GIIN assessment including many others.
During Fund 6:
Collaborating with the Cardano Aim team we led with the research and integration of SDG ratings to proposals in the Catalyst ecosystem.
Add SGD Ratings to proposals: <https://projectcatalyst.io/funds/6/f6-partnerships-for-global-adoption/add-sdg-ratings-to-proposals-aim>
Research in Applying Frameworks: <https://projectcatalyst.io/funds/6/f6-partnerships-for-global-adoption/research-in-applying-frameworks-aim>
During Fund 7:
Sustainable ADA during fund 7 did research to evaluate and look at different Impact measurement frameworks to find what works best for blockchain technology. We also did research on creating a token called the Sustainable Goals Token and the idea was to create a research based framework and platform for impact investing, monitoring and evaluation.
We created a white paper for both the Impact Measurement Tool & the Sustainable Goals Token:
Impact Measurements Tool White Paper : https://www.canva.com/design/DAFC7zRNrdg/em1s_yQDnNU6sPW6KJ8hnA/view?utm_content=DAFC7zRNrdg&utm_campaign=designshare&utm_medium=link&utm_source=publishsharelink
Impact Measurement Tool: <https://projectcatalyst.io/funds/7/f7-improve-and-grow-auditability/impact-measurements-tool-research>
Sustainable ADA Goals Token: <https://projectcatalyst.io/funds/7/f7-miscellaneous-challenge/sustainableada-goals-token-research-5d5d2>
During Fund 8:
Partnership Generation
-
https://projectcatalyst.io/funds/8/f8-cross-chain-collaboration/cross-chain-impact-lead-generator
-
https://projectcatalyst.io/funds/8/f8-business-solutions-b2b-and-b2c/community-lead-generation
Onboarding new Users:
During Fund 9:
- <https://cardano.ideascale.com/c/idea/64495>
Creating the Impact Measurements process and Tool for companies to help define KPIs, measure, verify and report them, with a focus on SDGs impact.
<u>Post-funding </u>
Finalize the last components of the PIP White paper and develop the Proof of Impact platform. The goal for this project is to create a MVP, onboard our pilot NGO that we are already partnered with through the Streets of ADA - A Samsudin Brothers Projek, a NFT4Good project.
What is the Proof of Impact Platform?
The Proof of Impact Platform (PIP) will be a SaaS company aiming to help citizens financially and morally support the causes and actions carried out by grassroots activists, communities, NGOs, and impact associations.
The primary products are an easy-to-use app to upload Impact KPI data. Along with a blockchain-powered platform that enables individuals and organizations to support NGOs and impact associations and get rewarded for their actions.
PIP will use blockchain, NFT, and related technologies to capture and showcase the reported and proven impact of NGOs, and associations, through a purchasable Proof of Impact NFT, containing metadata evidence connected to the positive impact beneficiaries have experienced.
Our Partners
We have partnered with Talk to Loop, who will be one of our on the ground partners to support capturing local community testimonials.
For our PIP pilot project, Streets of ADA - A Samsudin Brothers Projek are creating Proof of Impact NFTs in partnership with the Palawan NGO Network, in the Philippines, made up of 39 NGOs and Impact Associations. Streets of ADA NFTs will help raise funds and build a global support community to challenge corruption, protect activists and protect the planet.
“Loop is an open platform raising the voices of local people into the digital space. Making sure that impact is measured by their experiences and priorities! This collaboration is helping to use their views to inform Proof of Impact rather than letting other people define it." - Alex Ross, Loop Lead
PIP Proof of Impact Platform combines
Impact Measurement X Proof of Impact NFTs X Impact Portfolios:
- Track and Trace Impact through our impact measurement tool and mobile app. Making it easy for any organization to track and verify impact.
- Proof of Impact NFTs represent an impact investing/donor certification. Meta-data within the NFT attaches up-to-date verified impact data for holders that is dynamic thanks to CIP-68
- Impact portfolios provide users a dashboard to follow NGOs, and Impact Associations' impact over time. Stakeholders can take part in other mechanisms like stake NFTS, receive holder rewards, and view project updates from the projects they support.
Proof of Impact NFTs
PIP's marketplace will make NFTs available for purchase. Smart contracts will automatically send funds from the sale of the NFT to the NGO's wallet, while also incentivizing users by rewarding them with platform tokens/funds for their actions and needs, that will be redeemable in the growing ecosystem of impact projects and Cardano4Good community.
Dashboard of Impact (example visual and is subject to change)
Our ambitions are to overtime strengthen the relationships between ESG/impact investors and the Social and Environmental impact projects. To bring more investment to these projects so they can sustainably scale and create greater impact. Furthermore, we can connect impact investors to the projects they want to invest in and support. We envision a model where investors input certain impact investment criteria based on their investing preferences. Then using that information, they are connected with impact projects in our ecosystem, helping impact investors make more conscious and informed investing decisions.
How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?
Our proposed solution addresses the challenge by leveraging our expertise in impact measurement and blockchain technology to create the Proof of Impact Platform (PIP).
This platform aims to revolutionize the way citizens financially and morally support grassroots activists, communities, NGOs, and impact associations.
By utilizing blockchain, NFTs, and related technologies, PIP captures and showcases the reported and proven impact of these organizations through purchasable Proof of Impact NFTs.
Benefits to the Cardano ecosystem:
-
Enhanced Impact Measurement: The Proof of Impact Platform provides an easy-to-use app and a blockchain-powered platform that enables individuals and organizations to track, measure, and verify the impact of NGOs and impact associations. This transparency and accountability in impact measurement foster trust and confidence in the Cardano ecosystem.
-
Empowering Grassroots Activists: PIP empowers grassroots activists and communities by giving them a voice and platform to raise awareness and funds for their causes. By capturing local community testimonials and partnering with organizations like Talk to Loop and Palawan NGO Network Inc, we ensure that impact is measured based on their experiences and priorities.
-
Increased Funding Opportunities: Through the marketplace on PIP, Proof of Impact NFTs can be purchased, with the funds automatically transferred to the NGO's wallet. This provides a direct and transparent way for individuals to support impactful projects and initiatives, attracting more funding to the Cardano ecosystem.
-
Engagement and Rewards: PIP incentivizes users by rewarding them with platform PIP tokens/funds for their actions and needs. This gamification element encourages active participation, engagement, and ongoing support for NGOs and impact associations. In collaboration with Domino DAO, we will make this a fun engaging experience.
-
ESG/Impact Investing Connections: The Proof of Impact Platform aims to strengthen the relationships between ESG/impact investors and social and environmental impact projects. By connecting impact investors to projects based on their investing preferences, we enable more conscious and informed investment decisions, driving more funding to impactful projects within the Cardano ecosystem.
-
Scalability and Sustainability: This funding will enable us to develop our MVP and pilot with our Palawan NGO Network Inc. already partnered through the Streets of ADA - A Samsudin Brothers Projek. PIP has the potential to scale and onboard more many more users including artists, social enterprises and NGOs. We are in talks with numerous NGOs and impact associations based in France, the UK, Indonesia, Malaysia and Singapore who are exploring their digital transformation journey. This scalability contributes to the long-term sustainability of impactful projects who choose to integrate Cardano built solutions.
Our proposed solution, the Proof of Impact Platform, addresses the challenge by revolutionizing impact measurement, building global communities that are supporting and empowering grassroots activists, attracting funding, incentivizing engagement, onboarding new users to Cardano, and connecting impact investors to impactful projects. These benefits will be a huge contribution to the growth, adoption, and positive impact of the Cardano ecosystem.
How do you intend to measure the success of your project?
We will measure the following KPIs:
- number of White Paper views
- number of Advisors and Team members onboarded
- number of companies/NGOs/impact organisations/social enterprises who sign up to be the first companies on PIP after our MVP trial
- number of marketing and communication posts
- number of partnerships
Please describe your plans to share the outputs and results of your project?
We plan to share the outputs and results of our project through various channels, including social media platforms, community forums, and the Sustainable ADA website.
We will publish regular updates of discussions held in Cardano for Good Twitter spaces, and feature the achievements of the showcased projects. We will share updates on our milestones and increase marketing efforts to create an impactful Proof of Impact measurment and investing tool.