Cryptocurrency, and the platform on which it runs, blockchain has continued to gain global popularity. And as it continues to grow, the social entrepreneurship sphere is also expanding. With a feasible market size averaging $800 Billion USD, one cannot but undermine the importance of social entrepreneurship in the future. This leaves us with a question, what technology will this kind of enterprise run on? Well, I will say blockchain technology. Scholars and experts have proposed that cryptocurrency and blockchain technology will take over the future financial markets, but as at 2018, only a minute fraction of the world is using the technology. This has however not affected the fact that there are cryptocurrency projects that are already in the social entrepreneurship sector, fighting for social good by using the blockchain technology. With a future laced with so many possibilities, one cannot deny the fact that more of these projects will spring up. However, here are the current top 5 cryptos fighting for social good. These cryptos provided on this list are by no means rated according to their investment values, but rather on their goals and objectives, geared towards the social enterprise impacts.
Akoin is a crypto project of AKoin Ecosystem. AKoin Ecosystem is a project that provides digital and real life learning platforms, aimed at creating experiences and opportunities for youth entrepreneurs in Africa. This they do by connecting them to consumers who will hold and spend their cryptocurrency from their smartphones, using blockchain powered apps. The project initiator is the American Grammy award winning singer; Akon. The AKoin Ecosystem is committed to building blockchain based applications to aid micro transactions in Africa, supporting SMEs. Most especially microtransactions in rural areas with no banks.
Roots token creates an economic atmosphere that brings together the people who have capital and those who needs the capital. It is a baby project of RootProject. RootProject is responsible for creative the environment where there is a demand mechanism set in place for ROOTS tokens. RootProject encourages the buying of ROOTS by making available economic activities to the investors. An increase in the value of the cryptocurrency creates value for eeveryone in the system. This is because ROOTS Token for those who purchase tokens see the value of their tokens grow when an activity is carried out. And for those who offer these activities called RootProject activities, they are rewarded with tokens in a pension fund like reward system.
The Plastic Bank is a blockchain technology with the social aim of protecting our environment, thereby taking banking services to rural areas with no banking services. It offers an efficient and transparent ways in which plastics that are mostly ocean bound can be monetized. The Plastic Bank helps in buidling infrastructure in the poorest countries in the world, and it also contributed to improving the already existing systems in urbanized areas. It has collation centres which are mandated to be in tune with the host communities, and these centres are run by entrepreneurs in the localities. This according to them is to foster good communication, smoothness of operation and sustainability.
Impak Coin is an initiative of Impak Finance. Impak Coin is a piooner in cryptocurrency that is designed mainly for the purpose of supporting the growth of the social enterprise market. Impak Coin according to the whitepaper will enhance loyalty, rewarding collaborations and encouraging its investors to buy from accredited members of impak.eco. To make this project feasible, Impak Finance is already building a platform that will bring people, companies and industries together to do business both online and offline. Growing the economy with emphasis on social values. Using Impak Coin for transactions doesn’t attract any fee.
WaterCoin is a project under O’Claire, which is a subsidiary of Sun Water Life. According to O’Claire, WaterCoin will avail the organization sufficient means in which their drinking water can be distributed in over three continents. The funds gotten from the coin will be utilized in acquiring and developing the production, selling and the use of the water. The WaterCoin is considered to be a very strong coin fighting for social impact, especially in sub Saharan Africa where the problem of clean water lingers.