Web3 Impact No. 7

A briefing on social and environmental impact in Web3.

Happy Thursday! 

Neither of us (Banks or Kyle) were able to make it down to Bogata for Devcon, but we’re super curious about the most exciting/interesting impact-based content. If you attended, shoot us a note to tell us what you loved (feel free to include links and videos). We’ll feature our favorite in the next issue. Cheers!

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The WEF’s Crypto Sustainability Coalition

The World Economic Forum launched the Crypto Sustainability Coalition, comprising 30 different partners, which will investigate 1) Energy usage—crypto industry’s consumption of energy and materials to build a clearer picture of its impacts on climate and nature; 2) Web3’s potential for climate action—how Web3 innovations could tackle challenges facing the low-carbon transition at the pace required to hit the Paris Agreement’s targets; and 3) “On-chain” carbon credits—carbon credits could address current flaws in global carbon markets. The Coalition will investigate, collate and highlight industry standards, best practices and examples of tangible action that attest to how Web3 technologies can support communities most vulnerable to the impacts of climate change. The coalition’s wider aim is to foster a broad education campaign on what Web3’s potential and capacity look like, to better inform governments about how they regulate these technologies, and incentivize investment and research into their development. World Economic Forum (3 minutes)

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Gitcoin Grants Protocol

Since it first deployed quadratic funding in 2017, Gitcoin Grants has helped countless projects fund their grand visions. Gitcoin Grants will continue to be a public good on which the Web3 ecosystem can rely. But soon, they are also launching a concurrent offering: Grants Protocol, a tool currently in closed beta that will allow any community to launch its own grant program and incorporate community decision-making. Grants Protocol is a funding infrastructure powered by the open web; any group can use it to fund their shared needs in a way that is tailored to their community structure. Gitcoin (6 minutes) 

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Web3 vs. Decentralized Web

What is the difference between the decentralized web (DWeb) and Web3? The DWeb movement is interested in subverting the status quo dominated by big tech through tools that would give individuals greater control over their online identities, privacy and information. Web3 is connected to the philosophical underpinnings of the DWeb movement, but it’s more technically focused on blockchain technology itself. Both are working to reimagine the human experience on the web by upgrading the internet’s plumbing, ownership and rights. The Atlantic (12 minutes)

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Project Spotlight

Mangrove is building the operating system for carbon removal companies, enabling them to easily generate, track and sell their carbon removal inventory. Mangrove helps companies move their inventory on-chain and scale their carbon removal business.

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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. Photo by 

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