Opportunity through credibility
In many parts of the world, lack of accountability and transparency undermine economic and human development by increasing project and payment risk and by imposing (often prohibitive) verification costs. As a result, projects and communities in the emerging world rarely receive the full benefits and payments they deserve. This situation diverts energetic young people from productive behavior and can fuel cycles of clandestine migration, frustration, and violence due to uncertainty and lack of job prospects. This can change, and we believe technology can help.
How we are solving the issue
We’re building a communication medium among development stakeholders (funders, contractors, communities) where each can keep track of financial flows as well as insights from the ground to be reliably informed about the state of the world and increase the proportion of projects that are impactful. The spread of mobile devices and internet access over the past decade has reduced the cost of information transmission, and can be leveraged in combination with distributed ledger technology to build trust and shorten feedback loops among development stakeholders.
Our blockchain-based platform – Sela
Sela is a blockchain-based micropayment and distributed communication platform built upon a reputation engine. Tailor-made for the emerging world context, it enables platform participants to collect and distribute value and information across a secure, transparent, and reputation-driven network while maintaining user privacy and network integrity. Built on the ERC20 protocol, Sela Coins enable users to confidently transact data and currency through the Sela Platform. Over time, platform participants earn coins by building their reputations on the platform, for example, by acting as trusted counterparties and verifiers and participating to the success of projects.
In November 2017, we launched a pilot in the village of K-Dere in the Niger Delta region. An oil cleanup is being monitored by a dozen of community members who report and fact-check the information provided by the contractors in exchange for a compensation. BBC World, the Wharton School, and HuffPost, among other media outlets, have recently reported on this work and its potentially transformative impact in a series of interviews with SI. We plan to execute 5 parallel projects in beginning 2018 and follow-on pilots in Peru and North India the second half of 2018. Potential partners and investors are invited to email us at email@example.com.
We also accept BTC and ETH donations at the following wallets :
BTC : 1837z51zwqf2bSn3siAve3oHWro8SSjbky