Web3 Impact No. 11

A briefing at the intersection of Web3 and social / environmental impact.

Happy Thursday!

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5 Ways Web3 can Accelerate Climate Action

There are a number of ways that Web3 and blockchain technology can accelerate climate action: 1) Share resources and knowledge between local groups, activists and partners; 2) Make climate action accessible for more people by creating financial incentives to protect ecosystems; 3) Use open-source methodology to improve access to climate data; 4) Redefine ecological health by connecting economic and ecological value; and 5) Improve coordination and consensus building. Toucan (7 minutes)

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How Cryptocurrency Can Advance Financial Inclusion

The World Bank estimates that 1.4 billion adults worldwide are without access to basic banking services. Decentralized and digital cryptocurrencies have the opportunity to advance financial inclusion by bypassing traditional banking infrastructure; facilitating cross-border payments; unlocking new financial services such as loans, savings accounts and insurance; and bringing transparency and trust to financial systems historically fraught with corruption. Cointelegraph (3 minutes)

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9 Climate Market Predictions for 2023

Senken, a climate finance platform that enables investments in on-chain carbon credits, has nine predictions for the climate market in 2023: 1) Dry capital from climate venture capitalists (VCs) will be deployed more cautiously; 2) Carbon markets will mature and mirror traditional financial markets; 3) Carbon markets will fragment; 4) Carbon removal technologies will struggle; 5) Carbon markets will thrive with Web3 technologies; 6) Carbon markets will be pre-funded; 7) Digital technologies for monitoring, reporting and verification will have a breakout year; 8) Climate tech will attract top talent; 9) More institutional investors will dive into carbon markets. Senken Medium (3 minutes)

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The Rise of Regenerative Finance

Regenerative Finance (ReFi) is focused on using the principles of Web3 to rebuild public goods. Instead of exclusively focusing on financial capital, ReFi focuses on regenerating material capital, cultural capital, intellectual capital and spiritual capital. While the definitions of ReFi are still up for debate, some of the most prominent ReFi projects are the Regen Network, which tokenizes various climate-focused assets, and Gitcoin, which has funded $72 million across over 3,000 open source projects. With more projects launching in the last two years, crypto’s regenerative finance movement is just beginning. Coindesk (6 minutes)

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Project Spotlight

The venture arm of MercyCorps is focused on harnessing the power of technology to support ventures in emerging markets around the world. They’re a leader in investing in startups (some of whom are using Web3 technologies) in three categories: adaptive agriculture and food systems, frontier fintech, and climate smart systems. In 2022, they expanded their portfolio to 41 ventures in 23 countries. Their 2022 annual report is a study in various applications of blockchain technology (and other non Web3 tech) to solve problems around the world. MercyCorps (30 minutes)

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Web3 Impact

Web3 Impact is a briefing about leveraging Web3 for positive social and environmental impact by Banks Benitez and Kyle Westaway. 

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