Several weeks ago I participated in several panels and interviews at the SxSW Grit Daily media house, and most notably during our SafeMoon Saturday event. From the event, I see a growing and in-depth conversation about the use of blockchain and crypto technology to effect.
Several times when I talked about the focus of our vision and business model on enterprise philanthropy, the concepts of “philanthropy with an ROI” and “return on impact” came up. I talked about it there, but would now like to expand on the topic for a wider Grit Daily audience.
What is the relationship between Blockchain and Impact?
In the same way that blockchain democratizes the exchange of value for anyone in any sector, it also creates a platform for innovation that is accessible and transparent to all. With blockchain and crypto, we have the perfect foundation for a DeFi (decentralized finance) ecosystem that makes it possible to store and exchange value from something as small as a smartphone. This creates a much wider and more equal playing field for innovation in the form of green energy, clean water and essential resources for sectors that are not ideally served by the traditional model.
But it gets even better when you consider the things that blockchain does that are most important for social impact: the efficiency of development removes the friction points for organizations. Collaboration becomes easy. Exchanges of value are less affected by exchange rates and the traditional logistics of currency exchange.
The development of all kinds of products, but especially products that respond to basic life and health needs, can now be produced and deployed more quickly, leading to cost savings that we pass on to users rather than benefits. can. This is where the magic lies: Blockchain takes away all kinds of friction. And by creating impact in a “for-profit” model that generates an ROI, your business is a self-sustaining mechanism that not only “does well” but sustains itself and extends the impact far and wide. has the potential to grow. ,
It is a matter of focus.
Think of Impact as your operational North Star. How much impact will the results have on people’s lives? Were you able to raise the standard of living even a little bit? Thus every venture philanthropy business must measure success.
Human-based development helps
Human-based innovations support the highest possible return on impact. When large numbers of humans are combined on a single purpose, they bring knowledge, ideas, and resources to the table that can increase your goals even more quickly.
It does not mean that you decide by the vote of the committee. It means that you listen to your community. Use them as a continuous test bed. Having a community that spans the globe and is highly diverse will accelerate your success even more. You don’t necessarily need to do focus groups or extensive market research. You can “dox” yourself in discussions of technology to understand what different areas of a diverse community would like. It will make your impact go far better and faster than any traditional plan. It will also help you harness the power of the community by converting “hype” into “trust” as you listen to and address the highest needs and the best ideas they bring.
In our own company, this allows participants to virtually (or sometimes literally) sit down with the CEO and founder to talk about their highest needs that technology can solve them (and us) more quickly. may allow.
Crypto technology solves several main problems
Mark Cuban asked during his SXSW presentation, “What is the problem (crypto) can actually solve?”
enough! We just described how Blockchain lets you see who is using the data, what data and when. You can get the repositories of the data yourself. A smartphone can store the stored value of money, money and opportunity in a way that allows you to transact globally. For some countries, this is your only access to banking. I would say that the problems it solves are huge – and that makes its potential for social impact tremendous as well. (Interestingly, contrary to what Kevin O’Leary recently announced he has invested 20% of his net worth in crypto. Apparently, he “gets it.”)
As the power of the crypto community confers even stronger benefits to organizations of influence, the crypto culture is becoming more open and more accessible to crypto curios as well. It started out as a niche. Now it is becoming mainstream.
A Word on Competition and Risk
In our own company, we do not compare ourselves to others. We are playing an infinite game. Compare what is “now” and what is possible 10 years from now. This is our competition. That is your competition too – comparing yourself today to your future self 10 years from now.
Finally, a word on the element of risk. In my opinion, and especially in the pursuit of a DeFi ecosystem and life-improving results, you should run the risk of experiencing some errors and detours. At each step, look at the possible outcomes, determine the outcome you want, determine the next milestone – then pivot and adapt quickly. Don’t fall for the plan. The only way through a storm is “through it,” so be prepared to pivot and take the situation at hand. A lot will change every day. The plan allows you to avoid first contact, but is able to pivot and evolve rapidly that gets you to the metric or milestone you want. Then you rinse and repeat.
If your effort improves even one life, it will be successful. But imagine what are the prospects for improvement in the future of millions or even billions of people? Return on impact, through enterprise philanthropy, will be a key key.
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