IOEN partners with GIFT to deliver sustainability and fintech developments
In 1997 the esteemed ecological economist Bob Costanza put a price on the world’s ecosystems and published it in Nature. He and colleagues estimated that our planets ecosystem services — clean air, water, soil — were $33 trillion US dollars per year. Nearly double the global GDP (US$18tr/year) at the time. Since then the marketplace for ecosystem services has boomed as a price on saving our natural environment has become mainstream.
Financial instruments to save nature are now part and parcel of the balance sheet, but quantifying and using these opportunities every day is still problematic. New fintech innovations, including web3 and distributed ledger technologies, offer new ways to support ecosystem services and sustainability.
For example, at the Internet of Energy Network (IOEN), we are enabling homes anywhere to operate as an intelligent cooperative electricity system, where devices in the network adjust their behaviour to suit local grid needs and the needs of individuals, based on economic incentives. IOEN’s model unlock the capabilities of clean energy microgrids globally, building it from the ground up, device by device, and building clean energy integration as a service into new financial markets.
IOEN tech saves carbon emissions by enabling more renewables in the grid and the rolling out of new clean energy microgrids. But what is really interesting is how it uses new economic currencies to enable other DeFi and financial institutions to interface with new clean energy opportunities.
The Global Impact Fintech (GIFT) is the most diverse and inclusive FinTech forum globally, with members from 65 countries across all regions. Through its platform and community, we bring together key stakeholders in the Fintech ecosystem for inclusion and impact.
Just like IOEN, GIFT operates by focusing its effort on three core dimensions: Community, Collaboration and Cause (Impact). Driven by a desire to collectively find solutions to humanity’s critical challenges through disruptive tech, GIFT’s partnership with IOEN is a key next step in growing GIFT global presence.
GIFT’s approach to fintech and sustainability marries well with IOEN’s approach to energy inclusion and innovation in energy currency models. By forming this partnership, the organisations aim to foster increased innovation in fintech and clean energy integration, bringing communities together.
“IOEN is excited to work with GIFT because it represents the cutting edge of financial inclusion, sustainability, and application of Web3 technology across the financial sector in Asia, Africa and Latin America. We see IOEN as another financial mechanism that enables clean energy globally and supports our mutual goals of inclusion, equity, and sustainability,” said Adam Bumpus, Co-Founder and Exec Director at IOEN.
“Both GIFT and IOEN have been created from the ground-up, with community being one of the core driving forces for both organisations. Right away, we knew it was a great fit. We see IOEN’s technology as being a catalyst towards a greener, more sustainable future that puts the community in the driver’s seat. IOEN’s technology not only democratizes energy but also drives down the cost tremendously.” Malik Khan Kotadia — Co-founder and Chairman
IOEN and GIFT plan to hold a number of workshops and sessions to develop use cases, partnerships, and activities to enable more inclusion and innovation in the fintech and sustainable energy space across the region.
About GIFT
GIFT is the most diverse and inclusive non profit FinTech think tank globally, with top ecosystem leaders and policymakers from 65 countries across all regions. Operating across 10 global working groups, 6 regional chapters and multiple country chapters, GIFT members include leaders from Governments, Regulators, Multilateral Agencies, Industry, Banks, Fintech and Blockchain companies, Academia and thought leaders.
Our goal is to work with varied stakeholders to help collectively find solutions to humanity’s key challenges by leveraging disruptive tech, with a primary focus on innovation for impact and inclusion.
Act Local, Think Global
IOEN is the next generation of digital energy management and optimisation technology. IOEN tech enables an interconnected system of virtual microgrids that facilitate transactions within and between local energy ecosystems: from the appliance level to energy generation, storage, and consumption.
We are the backbone of the new tokenised energy ecosystem, building out the global clean energy ecosystem wherever you are, device by device.
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