How blockchain can be used to alleviate poverty worldwide. The case study of IPCTmarket, the protocol on Celo that enables open, free & borderless infrastructure through mechanisms like Unconditional Basic Income.
Impact Market are leveraging the Celo blockchain through Defi for the People. Their mission? To give expanded access to decentralized finance solutions and tools for the nearly 1.7 billion unbanked people worldwide.
With $2M in UBI distributed in over 32 countries, & over 32.8K beneficiaries, IPCTmarket
has already made a difference. Now w/ the launch of the PACT token, holders will be able to influence the growth & direction of the protocol through a DAO, allowing all voices to be heard.
At the Celo Connect event in Barcelona, COO Jessica Gaubert and Marco the CEO are set to discuss more about how Impact Market can alleviate poverty.
Reportedly, Jessica will be speaking Day 1 on “Driving Financial Inclusion and DeFi Adoption Through UBI” @ 5:10pm Marco will be on a panel Day 1 on “UBI in Action” @ 3:30pm.
To help further impactMarket’s efforts to support vulnerable communities, several Celo validators and ecosystem projects have contributed and some of them are pledging funds in different ways:
Impact Market is the initiative which is focused on decentralized poverty alleviation. This protocol makes it possible to distribute unconditional basic income (UBI) to those who are in need. Impact Market believes that inclusive and improved access to DeFi solution tools will be able to empower and increase economic opportunities for nearly 1.7 billion unbanked people from across the world.
Impact Market are leveraging the fully transparent blockchain based technology in an efficient manner as the protocol tracks deposits from donors and also transfers funds from the protocol directly to the recipients. At present, the platform is accepting contributions of cUSD, CELO, Bitcoin, and Ethereum. Also, they have helped delivered the funds without financial intermediaries, thus bringing down the high costs which are related to cross-border payments.
Get the latest Crypto & Blockchain News in your inbox.