Thursday, November 26, 2020
Home Decrypt News IOHK, United Nations Offer $10,000 for Sustainable Blockchain Project

IOHK, United Nations Offer $10,000 for Sustainable Blockchain Project

In brief

  • IOHK has teamed up with the United Nations to offer a $10,000 bounty for sustainable blockchain projects that further the UNs goals.
  • Potential candidates must use Cardano and be open source and scalable.
  • Submissions will be judged using IOHK’s blockchain-based voting system, Catalyst.

Cardano powerhouse IOHK has joined forces with the UN to offer a $10,000 bounty to forward-thinking blockchain projects that further the UN’s sustainability goals.

Five years ago, the UN adopted the sustainable development goals (SDG) project, a blueprint of 17 solutions to address global challenges such as poverty, inequality, and environmental degradation. Now, along with IOHK, the organization is looking to lean on blockchain to help kick the solutions into action.

“At IOHK, our mantra has always been to create environments where quiet brilliance can get loud and with that in mind getting involved in this project was a no-brainer,” said Charles Hoskinson, CEO of IOHK.

The Social Impact challenge has been issued to attendees of this year’s Wyoming Blockchain Stampede, an annual symposium that aims to accelerate the adoption of blockchain by uniting thought leaders, legislators, and innovators under one roof.

“We can’t wait to see the innovative challenge submissions, and empower those behind them to realise their ideas, with a view to bringing some game-changing projects into fruition,” Hoskinson added.

The criteria for submission emphasizes that solutions must advance solutions for the UNs goals using blockchain or digital ledger tech. They must also harness Cardano, be open source, be scalable and incentivize crowdfunded donations or other fundraising elements.

Submissions are to be judged by a joint panel of IOHK and UN personnel via IOHK’s blockchain-based voting system, Catalyst. The victor will receive a total bounty of $10,000 paid in Cardano’s native token, ADA. 

Challenge submissions are due between October 10th and October 18th.

The UN’s pivot on blockchain comes in the wake of growing recognition of the technology and its capabilities. A recent report from a UN Task Force noted the potential of blockchain to improve “effectiveness and accountability in the use of funds.” Although it’s a surefire way to lose funds too.

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