Originally published on Medium by Conor Nolan.
In a recent conversation with a friend, I attempted to do the impossible — Explain Blockchain.
So I described it through football, a medium we both understood, using a cool analogy I recently came across. During a game, everyone playing and watching knows the score; how much time is left; how many players are on the pitch; and this cannot be changed without a good reason for doing so and the referee’s confirmation. Blockchain is essentially the referee, putting the power in the hands of everyone there. So each ‘block’ in a blockchain-based peer-to-peer ‘chain’ is agreed and verified by everyone watching, ensuring the legitimacy of every element of the game.
Taking a step back from football and applying that to real world scenarios, the opportunities are endless.
At Blocknubie, we want to give great teams and great ideas that take advantage of this technology, the best possible chance of success. Our emerging, open source platform acts as a bridge between off-chain organisations, startups and the blockchain ecosystem, something we’ve explained in other blogs.
Blockchain and Social Entrepreneurship
There are already some incredible ideas with ambitious goals to create a massive social change, but current practices and methods are ineffective. This is where blockchain can be a catalyst for positive impact.
According to U.N. Secretary General Ban Ki-moon, 30% of foreign aid never reaches its destination due to corruption, or failure of accountability and transparency. So UNICEF are hiring blockchain developers to explore applications of blockchain to help distribute and deploy foreign aid.
A blockchain powered Foreign Aid system could enable transparency and accountability in the operation – distributing financial aid safely, securely and directly to the people and organisations they were meant for.
This is only one example. Think identity, think security, think financial empowerment. The potential is immense.
So what has Blocknubie got to do with Pledge 1%?
I have personally have been involved in Social Entrepreneurship for a number of years and a company’s corporate social responsibility is something I believe to be of vital importance. From donating to charitable organisations to assisting start-up ventures with a purpose to ‘do-good’.
At Blocknubie, giving back and promoting social entrepreneurship has been a core element of the company since it’s inception, and the 1% Pledge aligns strongly with the values of our team. We will be:
- Allocating 1% of NUB Tokens raised in our ICO to the 1% Pledge
- Guaranteeing at least one Social Venture will be part of the Blocknubie Accelerator Fund per cycle.
- Giving full access to the platform and integrated DApps for Social Ventures
Blockchain technology has been around for a while, it’s mass adoption is still quite premature. New applications for this potentially revolutionary enabler will continue to emerge as more and more people are educated, and the team at Blocknubie hope to help as many ideas prosper as possible.
It is a no-brainer for socially-focused organisations to at least consider blockchain, and we expect our partnership with 1% Pledge breaks down any barriers to entry for those considering it.