Blockchain
The Power of Blockchain for Social Good: Kakao’s Blockchain Project ‘Klaytn’ Takes Initiatives To Drive Social Impact
Reading Time: 2 minutes
Ground X, the blockchain unit of the leading South Korean mobile platform, Kakao has successfully completed its first pilot that leverages blockchain technology to enable in-kind donations to be monitored and tracked from donors to beneficiaries.
Since the launch of the private testnet ‘Aspen‘ last October, the Ground X team has worked with numerous charities and non-profit organizations in Korea to use blockchain technology to generate meaningful social impact. In particular, the Korean NGOs including Good Neighbors, The Happiness Foundation, Guidestar Korea, and the Beautiful Foundation have cooperated with Ground X for identifying the pain points of charity donation processes in the current industry and discussing the promise and potential of blockchain to enhance social funding. They also supported Klaytn in identifying potential areas where blockchain technology could further be applied to help improve existing business flows.
Together with the nonprofit tech startup Prisming and the Happiness Foundation’s Happy Gift Box project, which delivers the donated goods to beneficiaries, Ground X has completed the first pilot project that leverages blockchain technology to enable in-kind donation to be recorded and tracked from donor to intermediary to beneficiary. The pilot service, developed by Prisming, utilizes Klaytn’s recently launched public testnet, Baobab, by employing both the local database and the distributed ledger function of blockchain technology. In order to maintain the privacy of the data including the prices of the donated goods, some data are recorded on the local DB only while the blockchain records the entire donation journey thereby driving a more transparent giving. The Happiness Foundation plans to integrate this pilot project with its current system by the end of 2019 to improve administrative efficiency with blockchain technology.
The second pilot, set to launch in May through a Korean mobile application service called Inconvenience Box as developed by Nitpick, rewards users for reporting ‘inconvenient’ moments or instances they experience in their daily lives. The incentivized users can then choose to use the received ‘Social Innovator Tokens,’ which are minted on the Klaytn platform, to buy products online or donate them. The Klaytn-powered Inconvenience Box, which can be downloaded for free, endeavors to make social funding to be more fun and easy and is specifically for today’s millennials.
Together with social ventures and development charities, Ground X plans to continue incubating and implementing blockchain-based solutions that can address the existing challenges in the industry. According to Dr. Jerome Lee, the Head of Ecosystem and Social Impact at Ground X, “Blockchain has the potential to become the solution to address the world’s pressing issues particularly in social and development sectors, and we seek to develop real use cases that utilize blockchain for generating positive social impact.” He further added, “We hope that Ground X can take the initiative to promote the power of blockchain in transforming social funding and charitable giving by enhancing transparency and enabling new mechanisms for tracking impact.”
Once the second pilot is over, the complete report and the source code will be made publicly available online at www.klaytn.com. Ground X plans to enforce its ecosystem by expanding its community of developers and service providers.
SOURCE Klaytn
Blockchain
Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users
The post Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users appeared first on News, Events, Advertising Options.
Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
The post Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity) appeared first on News, Events, Advertising Options.
Blockchain
CoreNest Capital Announces Strategic Investments in SpaceX, CTGT, Open Clinic, Asha Health, CollectWise, Curo, Hybrd, and Study Dojo
OpenAI, xAI, SpaceX, Weave Robotics, Blaze Payments, Domu AI, Phonely AI, Andromeda Surgical, Texture Capital, Artisan AI, Piramidal,Avatar Medical, OpenCall, Fleak AI, Algorized, itsElectric, Dili, CTGT, Open Clinic, Asha Health, CollectWise, Curo, Hybrd, Study Dojo, Sologenic, Coreum, Pulsara
-
Blockchain6 days ago
Pelican AI and Christie Capital Announce Launch of Brokered Financing
-
Blockchain Press Releases5 days agoBybit: A Global Favorite Among Full-Time and Professional Traders and the World’s Second-most popular Crypto Exchange
-
Blockchain5 days ago
Sportsbet.io Becomes New Title Partner of Snooker’s Players Championship, Tour Championship and Champion of Champions
-
Blockchain7 days agoBlocks & Headlines: Today in Blockchain (BubbleMaps, Pantera Capital, Week 2025, FP Complete, FP Block, Bybit, FarmX)
-
Blockchain Press Releases5 days agoThe Moskowitz Law Firm, PLLC Announces Preliminary Approval of a Proposed Class Action Settlement on Behalf of Purchasers of Astrals Non-Fungible Tokens and Galaxy Tokens
-
Blockchain7 days ago
io.finnet and Cede Labs Partner to Transform Multi-Exchange Portfolio Management for Institutions
-
Blockchain Press Releases6 days agoBybit Pledges RMB 5 Million to Support Relief Efforts Following Devastating Tibet Earthquake
-
Blockchain Press Releases6 days ago
Bybit & SignalPlus Unveil the 100,000 USDC Global Trading Showdown
