Proof of (Human) Impression because the North Star Metric for ReFi

First we had Proof of Work blockchains (Bitcoin is and Ethereum was), then we had Proof of Stake blockchains (Ethereum is as are nearly all of the remaining). More and more blockchain tech is getting used to supply extra credibly impartial, clear and permissionless instruments to supply proof of different issues too, not simply as conensus mechanisms.

Final 12 months, for instance, Multicoin Capital introduced their thesis on Proof of Bodily Work and highlighted tasks equivalent to Helium and Hivemapper as examples. Whereas the previous has turn out to be extra maligned because the proof of utility of these Proof of Bodily Work, as measured in revenues from the decentralized IoT community turned out be just about nothing, different Proof of Bodily Work tasks together with Hivemapper appear to be doing properly.

Go away it to the ReFi neighborhood, nonetheless, to push the envelope relating to leveraging crypto rails to attain affect outcomes. ReFi was born on the intersection of regenerative economics and DeFi withe the aim of accelerating the shift to a extra inclusive, regenerative and low-carbon economic system.

At its roots, the exploding ReFi area is about creating extra transparency and pathways to optimistic affect on communities and the planet. In mild of the skepticism round carbon offsets, exacerbated by current media consideration to the potential flaws of opaque voluntary carbon markets, it may well hardly be a shock that leveraging crypto rails to carry extra transparency to the complete provide chain of carbon offsets — from venture finance, to venture execution, methodologies for measuring the emissions reductions, the certification technique of the offsets, {the marketplace} for getting and promoting and retiring carbon offsets — has turn out to be a serious focus space for the ReFi neighborhood.

In a current put up I launched a brand new visible mannequin referred to as the ReFi Local weather Stack which highlights examples of ReFi tasks throughout the crypto stack.

The ReFi Local weather Stack has a whole layer devoted to the decentralization, tokenization and transparency efforts getting used for carbon offsets and different eco-credit schemes (e.g. renewable power credit).

What many ReFi tasks have in frequent, in a single type or one other is the concept of Proof of Impression. Given the rampant greenwashing we see from companies all over the world making daring, unsupported claims, there may be actual must inject transparency into claims of affect. Many international actors are calling for on-chain instruments for the digital measurement, reporting and verification (dMRV) of ESG affect claims. The staff and neighborhood at Toucan Protocol are massive believers and advocates for accelerating the adoption of DMRV on crypto rails.

In the meantime, Atlantis DAO has a proof of affect function that permits people to assist companies obtain their affect targets by way of bounties that are then tracked and rewarded on chain.

Whereas fascinated by what we try to attain with WheelCoin, the Move2Earn/Impact2Earn app that rewards customers for his or her inexperienced mobility selections, I’ve more and more been fascinated by the $WHL reward token as a kind of Proof of Human Impression. $WHL will quickly be on-chain, thus permitting a part of the affect journey by people (and workers) to turn out to be extra clear.

Whereas we’re restricted in how a lot of the indivdual’s mobility patterns may be on chain because of apparent privateness considerations, I do hope over time we will carry some knowledge on chain that gives additional proof of the combination and anonymized journeys our rising person base is creating as a kind of Proof of Human Impression. If in case you have any ideas on easy methods to additional present on chain proof of the inexperienced affect our customers have we’d love to listen to it. Within the meantime, we’ll concentrate on our main north star: growing the emissions of WheelCoin ($WHL) which may solely be earned by customers shifting greener than in the event that they have been in a traditional combustion engine automobile.

I’m additionally questioning in regards to the potential to in some way create a collective metric for the complete ReFi area. May we create some type of dashboard that aggregates on chain proof of affect from each ReFi venture?


The ReFi area is poised for a breakout in 2023. The right storm of rising considerations round local weather, rising concentrate on corporations to have clear and clear ESG targets and actions, international residents searching for methods to be a part of the answer and the beginning of nice blockchain protocols to construct ReFi tasks on, there is no such thing as a time like the current to buidl within the bear market. More and more Proof of Impression will probably be on chain and the ReFi area will energy this subsequent wave of affect innovation. At Iomob, the makers of WheelCoin, we’re glad to play a small half within the ReFi neighborhood.

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