🌍 How can web3 help solve real-world problems and drive the public good?
In the previous post, I looked into the first of 5 Sitra’s megatrends: The erosion of nature's carrying capacity.
Today, we delve into the second one.
❤️🩹 Challenges to well-being are increasing ❤️🩹
Based on Sitra’s report, our world is facing some major challenges right now in terms of wellbeing:
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An increasingly ageing population and system durability being tested: As our population grows older, our social systems, including healthcare, welfare, and social support, face increasing pressure. It's time to evaluate and strengthen these systems, ensuring they can adapt to the demographic shift. Technology can play a crucial role in addressing this challenge.
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The ever-looming ecological sustainability crisis and the weight of the past: We need to let go of outdated beliefs and mindsets that prioritise individualism and materialism, which often harm the environment, society, and future generations. It's time to reassess our values, priorities, and lifestyles to create a more connected, sustainable, and equitable world.
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Intensified mental health problems and comprehensive well-being: We need to adopt a fresh perspective where well-being is intertwined with the health of our environment and communities. By focusing on a future where everyone's well-being matters, we can create a more equitable and sustainable world through long-term, ethical actions that prioritise social inclusion.
💪 Enter Web3 and Impact investing, two powerful forces that can team up to make a difference. But how?
Ok, let’s review the concepts first:
🌐 Web3 (aka the decentralised future) is all about blockchain tech and smart contracts, making systems transparent, secure, and efficient.
🌳💰Impact investing, on the other hand, is a purpose-driven approach to investing, targeting both financial returns and positive social or environmental impact.
🔗 So how do these two work together? Web3 streamlines Impact investing by tokenising investments for global participation, using smart contracts for transparent transactions, and empowering community governance through Decentralised Autonomous Organisations (DAOs).
Tokenization democratizes impact investing, making it accessible to investors worldwide. As assets are divided into smaller, tradable units, even those with limited capital can participate in funding projects that address pressing global issues. This inclusive approach to investing is made possible by the transparent, decentralized nature of Web3.
Smart contracts, a core component of Web3, streamline transactions and establish trust between parties. By automating the release of funds upon meeting certain milestones, these digital contracts make impact investing efficient and transparent. This level of accountability ensures that projects deliver on their promises and create a tangible, positive impact.
DAOs, another key element of Web3, enable communities to participate in decision-making processes. By involving stakeholders in project governance, this approach promotes collaboration and ensures that investments are guided by the needs and values of the community.
Now… 🔮 Why don’t we explore some ideas on how web3 and Impact investing can join forces to address the three challenges mentioned above: ageing population, ecological sustainability, and mental health. By leveraging tokenisation, smart contracts, and DAOs, we can revolutionise how we tackle these global issues, making long-lasting positive impacts. 🌈
👩🦳 Ok, let’s start with the ageing population: A senior citizen living alone in an urban area needs personalised care. A Web3-enabled platform could connect impact investors with projects like eSeniors using advanced medical tech and innovative healthcare models to provide personalised care for seniors. Tokenisation and smart contracts ensure transparent funding, while DAOs let the community have a say in decision-making, meeting the elderly's needs and expectations. 🏥
🌾 Next, ecological sustainability: A small-scale farmer wants to adopt sustainable practices. Web3 can empower impact investments in projects like EcoFarm, promoting eco-friendly farming techniques. Tokenisation lets investors support the transition to sustainable agriculture, and smart contracts ensure accountability, driving further adoption of sustainable practices.
🧠 And, last but not least, mental health example: A young adult is struggling with mental health challenges. A Web3 platform can connect impact investors with initiatives like Innowell, a digital mental health platform providing tailored, accessible therapy services. Tokenisation and smart contracts ensure transparent funding, while DAOs let the community shape decision-making, ultimately driving lasting change in mental health care systems.
💡 What do you think? Do you have any cool examples of Impact investing and web3 together in action? 🌎✨
Next time, we’re gonna tackle the next megatrend: 💥🌍 The battle for democracy intensifies. 💥🌍 …Should be interesting…
Until next time! Let’s go do some good!
(Image: Created with DALL·E. Prompt: "megatrend: nature - the erosion of nature’s carrying capacity")
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