How Havuta Combats Greenwashing Through Blockchain

Havuta’s impact data collection app has become a premier tool to combat greenwashing.

Investopedia defines greenwashing as:

“… the process of conveying a false impression or providing misleading information about how a company’s products are more environmentally sound. Greenwashing is considered an unsubstantiated claim to deceive consumers into believing that a company’s products are environmentally friendly.”

Havuta has a custom-built, beneficiary or end user-facing mobile app that allows organisations to broadcast impact studies to those end users and receive impact data from them.

That data is recorded on the Telos blockchain as memos in hashed format in blockchain transactions. The benefits of recording that data to a public blockchain is that it is immutable. The result is that claims of impact (including, but not limited to environmental impact) cannot be undone — incentivizing good behavior when they claim impact.

We are also developing an impact NFT platform, where we package up impact data into non-fungible tokens, which can be bought by investors and donors, confident in the knowledge that the impact they are funding has been verified.

The response from the impact investor community seeking to finance impact-driven organisations, as well as donors to the development sector, has been overwhelming.

We are proud to report a number of partner organisations have been able to attract more funding because they are using Havuta to measure and verify their impact. Investors and donors are attracted to the transparency blockchain technology provides and we are excited about the future role impact NFTs will play in that process.

With our continued efforts in creating this audit trail of impact, greenwashing — unsubstantiated claims of environmental impact — will become a thing of the past.

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