Blockchain venture platform ConsenSys has announced a new initiative that has been formed with the objective of leveraging the power of Ethereum blockchain for those in need.

Called the Blockchain for Social Impact Coalition (BSIC), the initiative aims to incubate, develop, and implement blockchain solutions that are investable, scalable, and replicable, while solving social and environmental problems.

The inaugural meeting saw participation of over 30 representatives from 22 member organizations including EduDao, Disberse, High Tech Humanitarians, Logos Global Advisors, MIT Solve, New America: Future Property Rights, Nordic Impact, slavefreetrade, Sustainability International, the World Wildlife Fund, ALICE, and Tata Consultancy Services. They discussed existing pain points, foreseeable challenges in collaboration across sectors, and their vision of blockchain use cases in the humanitarian space.

The initiative will demonstrate blockchain potential to increase transparency, accountability, and efficiency in humanitarian organizations, and improve the lives of the individuals they aid. BSIC has identified four target areas as initial launch points:

• Identity & Vulnerable Peoples
• Energy & Environment
• Supply Chain
• Financial Inclusion

According to the official announcement, members will self-select into Working Groups to collaborate on one of these specific areas. The Working Groups will meet once a month to identify key initiatives, provide feedback on existing projects, and formulate strategy to accelerate blockchain adoption. In addition, BSIC is creating a network of decentralized meetups, open to the general public, and has already launched events in New York, London, and Washington D.C.

“We now have a confederated group of organizations, from a broad range of impact sectors, dedicated to exploring the potential blockchain technology has to aid those in need, and to creating, testing, and implementing the necessary solutions”, said Ben Siegel, Impact Policy Manager at ConsenSys.

BSIC also plans to hold a month-long virtual Hackathon later this year. The proof of concepts created during the hackathon will form the basis of MVP development delivering investable opportunities and solutions for impact-oriented organizations.

Last month, ConsenSys introduced “ConsenSys Diligence” – an initiative committed to improving the Ethereum ecosystem by promoting technical excellence, security best practices, legal precautions, and ethical business practices.

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