Blockchain Press Releases
Visa, COS and the United Repair Centre unite to make more sustainable choices everyone’s must-have
The first experiment partners for Visa’s Recommerce Behavioural Insights Lab will be COS and United Repair Centre, in conjunction with the Ellen MacArthur Foundation, Mindworks and Twig, to support sustainable consumer choices and the transition to a circular economy.
- 92% of people surveyed say they want to live a sustainable life, but only 16% are actively changing their behaviour.[1]
- Visa is partnering with retail partners H&M Group’s COS brand, the United Repair Centre, Mindworks, Twig and the Ellen MacArthur Foundation to help understand and overcome the barriers that stop consumers taking part in the circular economy.
- As one of the world leading payments network, Visa is strongly placed to develop new services that support more sustainable choices for consumers.
LONDON, July 13, 2023 /PRNewswire/ — Today Visa announced the first partners for its Recommerce Behavioural Insights Lab, a new initiative running rapid real-world experiments to understand and share how businesses can help consumers actively engage in the transition to a more circular economy.
With 92% of consumers surveyed claiming they want to live a more sustainable life, but only 16% taking active steps to change their behaviour, Visa will partner with leading brands to better understand how to bridge this “intention/action gap”, aimed at driving more circular behaviours and business models while ensuring an inclusive approach.
The first two experiments will be run in partnership with COS and the United Repair Centre, and will take place in various places across Europe. Initial countries where early experiments are likely to take place include France, the Netherlands and Germany, as well as the UK.
COS will explore the motivations and compelling experiences that increase consumer participation in the resale market. Resale is an important part of fashion’s shift to circularity and is a growing commercial activity. However, with only 47% of consumers participating in resale activities more than once a year, many brands are still learning the many motivations and novel barriers that affect customer interest.[2]
The experiment with the United Repair Centre will leverage their experience offering high-quality repair services to leading European apparel brands. It will explore the barriers that stop consumers from repairing their garments, and how to make clothing repair services more accessible and beneficial for all.
The experiments will test the different experiences and motivations with customers in a variety of environments, including online and in store, to provide a better understanding of the precise triggers of changing consumer behaviours, experimenting with factors such as improving visibility, access, community, reward, ease, or affordability.
The experiments will be open sourced, with key findings available through downloadable playbooks so that other businesses can use this knowledge to help develop their own circular models and be part of the wider Recommerce community.
Katherine Brown, Vice President Sustainability and Inclusive Impact, Visa Europe: “Over half of Europeans are already regularly engaging in recommerce activities like resale. By uncovering what actually gets shoppers to change their behaviour and by leveraging our data and insights from these experiments with United Repair Centre and COS, we can identify new ways to make sustainable fashion a must-have purchase and accelerate the transition to the circular economy for all.”
Thami Schewichler, CEO, United Repair Centre: “Every brand is looking at how they can be sustainable, and consumers are also looking for sustainable alternatives. Repair is a great way to show consumers the value of clothing again, and as it becomes the new cool in fashion, it also gives them the chance to create real impact.”
To ensure the Behavioural Insights Lab provides participating partners with industry-leading expertise, Mindworks, a leading behavioural design expert, Twig, an innovative circular economy fintech, and the Ellen MacArthur Foundation will be joining the Lab as foundational partners. Insights from our Strategic Partner, the Ellen MacArthur Foundation, including circular design principles, will be incorporated, and the Foundation is further supporting the project by helping to shape its direction.
The meaningful and unique combination of Visa’s equitable commerce and design experience, the Ellen MacArthur Foundation’s circular design insights, Twig’s fintech meets resale space knowhow, and Mindworks’ key role in designing behavioural interventions, will supercharge discovery of actionable insights and scalable solutions, that encourage sustainable choices.
“As a Strategic Partner in our Network, we have been working with Visa to ensure circular design is incorporated in the Behavioural Insights Lab. This project is absolutely a design-led initiative, and an important step in the journey towards bringing together different actors to collectively imagine and test new ways of engaging people and enabling circular economy choices. The learnings from this iterative project will sit alongside our Adaptive Strategy for Circular Design to help organisations leverage design as they transition from linear to circular, and will support not only the fashion industry, but all actors across different sectors who want to bring their users and customers along on their circular economy journey.” Anna Queralt, Strategic Design Manager, Ellen MacArthur Foundation.
Brad Herholdt, CEO, MindWorks Consulting says: “We’re thrilled to be announced as one of Visa’s foundational partners for their Behavioural Insights Lab. At MindWorks we believe in the power of transformation for good which is why we can’t wait to help shape a better future for our planet and its people by designing innovative behavioural interventions to help consumers make more sustainable choices. We’re proud to partner with like-minded organisations and are especially excited about the open source nature of Visa’s labs approach, encouraging collaboration and knowledge sharing for the whole community.”
The creation of the Behavioural Insights Lab follows the announcement of Visa’s commitment to Recommerce as a regenerative way to buy, re-use and share goods and services, helping to accelerate the transition from our “take-make-waste” linear economy to a circular economy, incorporating recommercial activities and business models, including resale, repair, rental, redistribution, return and refill.
For more information about Visa’s Recommerce programme and to join Visa to shape and accelerate the transition to a more circular economy designed for everyone, everywhere, please visit: www.visa.co.uk/recommerce.
To become a partner, visit: https://globalclient.visa.com/recommerce
Details on experiment methodology
Using insights from behavioural science, the Lab will identify the factors that drive consumer behaviour towards sustainable choices while also uncovering barriers that hinder the achievement of sustainable intentions, such as Resale, Rental and Repair.
The Lab plans to test and share the results of interventions that have been designed to overcome these obstacles, with the ultimate goal of assisting businesses and consumers in adopting more sustainable habits and behaviours.
In order to conduct these experiments, Visa has devised a comprehensive methodology that includes defining the behavioural barrier, establishing a behavioural intervention, designing the experiment, carrying out the experiment, analysing the data, and sharing the results openly. The foundation of the methodology and lab is based on the M.I.N.D.S.P.A.C.E behavioural framework that decodes the nine effects thought to have the most influence on behaviour.
By following this methodology, Visa will be able to evaluate experiment data and merchant feedback, share learnings, and create and share guides and playbooks for businesses to implement the intervention.
About Visa Inc.
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.co.uk, blog (https://www.visa.co.uk/visa-everywhere/blog.html), and @VisaUK.
[1] https://www.kantar.com/inspiration/sustainability/making-sustainable-choices-affordable-and-accessible-a-call-to-action-for-brands
[2] Opinium research on behalf of Visa, October 2022
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DUBAI, UAE, Nov. 15, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, opens up the November arena for the Bybit Crypto Titans trading competition. Available for users in select regions, a prize pool of 55,000 USDT will be available for a limited time only.
From now to Nov. 30, eligible traders can level up their trading strategies and amplify their winning chances by inviting friends to share two prize pools in two simple steps: register for the event at the Grand Arena, and invite friends and trade.
Battlefields: Once in the Arena, users can pick their battlefields. Up to 30,000 USDT are up for grabs in the Team Battlefield ranked by total trading volume, while another 15,000 USDT is reserved for traders in the Solo Battlefield competing by PnL(%).
More perks: Additionally, top traders and leaders will receive extra perks. Participants will receive a bonus 5 USDT for every new qualified referee, and the first 50 Team Leaders whose team exceeds a threshold amount in trading volume will be entitled to a 100 USDT bonus.
“As trading volumes overall are climbing, we are seeing so many talented traders in our community with a knack for navigating fast-moving markets. This event gives some of them an incentive to share their passion with their friends, and there is room for rewards for the solo trading pros to shine as well,” said Joan Han, Sales and Marketing Director of Bybit.
Market sentiment and activities have been trending up in recent weeks globally, and the enthusiasm is shared among users in niche markets. While traders rush to capture opportunities in a heated market, the Crypto Titans competition encourages users to bring out the best trading game and hone their trading skills for healthier returns.
Find out more about Bybit’s Crypto Titans: November Showdown, terms and conditions apply.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press
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With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.
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- Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few. - Cardinal Health announces two strategic additions to its portfolio
Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash. - BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems. - Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
“I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands. - Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately. - PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
- Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
- Finaya Unveils Nationwide Homeownership Platform
From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient. - GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too. - GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics. - Most US shoppers are encountering generative AI while shopping without realizing it
A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.
For more news like this, check out all of the latest finance-related releases from PR Newswire.
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Blockchain Press Releases
Blockchain for Good Alliance Hosts Web3 Oscar, Celebrating Innovators Advancing UN’s Sustainable Development Goals
DUBAI, UAE, Nov. 14, 2024 /PRNewswire/ — The highly anticipated Web3 Oscar, a prestigious event hosted by the Blockchain for Good Alliance (BGA), celebrating blockchain projects driving real-world impact aligned with the UN’s 17 Sustainable Development Goals (SDGs). Industry leaders gathered in Bangkok to honour innovators shaping a sustainable future.
The event was part of BGA’s November lineup, featuring two major initiatives for global change through blockchain: the Sustainable Innovation Summit and the Web3 Oscar Awards.
Sustainable Innovation Summit: A Hackathon for Social Impact
Held from September 9 to November 11, 2024, the Sustainable Innovation Summit hosted a hackathon with a $100,000 prize pool, inviting participants worldwide to create blockchain solutions addressing key issues such as poverty, clean water access, and gender equality. The summit concluded with a Demo Day at the Grand Hyatt Erawan in Bangkok, where finalists showcased their projects to blockchain pioneers, investors, and industry leaders, with opportunities for incubation support and equity-free funding.
Rising Stars
In a cinematic presentation style, 10 shortlisted projects from across the globe, participating in the Sustainable Innovation Summit’s 17 SDGs Challenge, took the stage. Each team presented their blockchain solutions to address sustainability challenges, telling the story of a “hero” confronting a global crisis (one of the 17 SDGs), with blockchain as the “tool” they wield for change.
Winners for the 17 SDGs Challenge:
- 1st Place: Grand Social Impact Award 🥇 EthicHub
- 2nd Place: Outstanding Social Innovation Award 🥈 Plastic Odyssey
- 3rd Place: Emerging Impact Award 🥉 ResearchHub
Rising Star Awards (top 10 projects, in no specific order):
- Wavy Health
- LAKE (LAK3)
- KulaDAO
- erable°
- arkreen
- UCO Network
- Edu3Labs
Web3 Oscar Awards: Honouring Leaders in Blockchain for Social Good
Coinciding with the hackathon’s Demo Day on November 11, the BGA Web3 Oscar Award recognizes individual contributions to blockchain for social good across three categories, with up to 7 total winners.
Each category highlights individual efforts aligning with BGA’s mission.
The Collaboration Bridge Award honours individuals who have played a vital role in guiding the strategic direction of the Blockchain for Good Alliance (BGA). This year’s recipients are:
- Harn, CEO of Trigger Asset Management
- Mariana de la Roche Wills from INATBA (International Association for Trusted Blockchain Applications) and de la Roche W. Consulting
The Public Welfare Contribution Award celebrates individuals who have harnessed #BlockchainForGood. This award was presented to:
- BreeAnne Yek, Consultant at The Verdant Room
- Milica Dimitrijevic from Positiveblockchain.io
These individuals have demonstrated remarkable dedication, guidance, and pioneering work, significantly advancing the mission of the Blockchain for Good Alliance (BGA) in promoting sustainable development through blockchain technology.
In her closing remarks, Helen Liu, Co-founder and COO of Bybit and founder of BGA, explained how blockchain can bring people together to make a real difference worldwide. Her vision for leveraging blockchain to create worldwide impact was both inspiring and forward-thinking.
About Blockchain for Good Alliance (BGA)
The Blockchain for Good Alliance (BGA) is a long term collaborative non-profit initiative with key partners with the main aim to contribute to societal good by using blockchain technology to solve real world problems. By convening leaders, innovators, and organisations from across the blockchain community, BGA seeks to drive innovation, collaboration, and action towards a more sustainable and equitable world.
For more information
Email: [email protected]
Website: www.blockchainforgood.xyz
Twitter: www.twitter.com/chainforgood
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