Why is it important for cryptocurrencies to shift their interest towards the Social Economy & Solidarity sectors?
The reality of the Social Economy sector today is inefficient in two different ways. Firstly, there is no-existing mechanism to monitor the ‘return to the Society’ part of their revalues. Secondly, the traditional financial institutions do not completely understand the social economy values thus, new opportunities rise for new methods to finance Social Economy activities. What is more, the token economy is encompassing the values of Social Economy, and is actually making the exchange of public goods more flexible. More specifically, the value of social capital and natural capital, hidden in the shadow of the monetary economy, is currently being reconsidered as Blockchain is progressing.
On top of that, the current model of allocation of humanitarian aid by Public or International Organizations and NGOs has been said to result in high costs and questionable methods of allocating funds. Moreover, there is not a monitoring system that we know of to track the logistics — a commission of a handful of people to follow up the distribution of funds received by the EU and the Greek State was only introduced only a few years ago. SocialPolis strategy is to circulate a certain number of SPL to the final beneficiary of the humanitarian aid coins in the form of tagged coupons under severe surveillance. The participating network of local stores in the SocialPolis ecosystem will supply goods which will be exchanged with the tagged coupons in circulation. Coupons will be circulated by merchants in order to pay back donors or other providers participating in the aid program. It should be noted that this application area seeks to mainly address the needs of vulnerable or underrepresented groups. The token economy supplements the weakening of the state and enhances the progression of small communities.
We foresee a huge market opportunity to create a new ecosystem powered by programmable business processes in the form of smart contracts on the Blockchain. An ecosystem that allows the development of a fully remote self-managed decentralized platform for Social Economy on the Blockchain.