Why Fluree is a PBC (Public Benefit Corporation)
TL;DR: (Too Long; Didn’t Read):
Fluree is a Public Benefit Corporation. We structured Fluree’s charter to include a mandatory positive impact on our society. Specifically focused on alleviating job displacement, Fluree PBC will allocate resources to provide free training and services for individuals wishing to learn new skills and relocate to new industries. FlureeDB believes this cause to be relevant and important as the dynamic and disruptive nature of digital technology continues to change job markets and outlooks.
Apart from the technical or “blockchainy” questions we receive at Fluree, many are interested in those three letters that follow our company name around: “PBC.”
Public Benefit Corporations — or B Corps — are corporate entities that include a positive impact to society directly into their corporate charter. While standard corporations have historically focused solely on maximizing dividends for shareholders, executives at B-corps take the impact to society as an equal (and legally binding) factor to drive business decisions.
In other words, Public Benefit Corporations are redefining what it means to be successful in business.
At B-Corps, goals and subsequent business decisions generate both high returns to investors as well as a positive impact to greater society.
Fluree joins the small but growing list of B-corps around the world looking to generate the most important KPI: Value to Society.
Public Benefit at Fluree: skills building and education
Public Benefit is an inherent characteristic at Fluree — as a company that hopes to pioneer the movement towards a more democratic, decentralized future in business, Fluree hopes to disrupt the old model of rigid, high-priced SaaS and facilitate a more free, open, transparent, fair, and truthful business environment. Fluree will be a part of major disruption — and will meet it with apt responsibility.
We’ve learned time and time again that disruption has two sides — a positive impact to efficiency and technological possibility, and an inevitable displacement of jobs. And the revolution that Fluree hopes to take part in will do the same — business process automation by IoT, smart contracts, AI, etc. will discard the need for a certain set of skills. Disruption must be met with responsible, proactive initiatives to help individuals rebuild their utility with relevant skill sets.
Thus, Fluree’s Public Benefit side of incorporation focuses specifically on providing free education, programs, and resources for individuals wishing to start, change, and build their careers.
We believe that society best functions when its people are in control of the work they do and their contributions to the world. We also acknowledge that a variety of systemic factors have historically determined career opportunity and growth. Fluree looks forward to building a future where everyone makes their contribution to society to the fullest extent of their potential, with happiness, passion, work-life-balance, and access to a broad set of resources.
We hope that our model of business will encourage other companies to contribute their resources to the betterment of education, government, environment, economy, and the whole of society.