Shanzhai City Develops IDCC Blockchain Solutions to Serve HKSAR SIE Fund for Decentralized Impact Management
(7th August 2020) Shanzhai City launches social venture — IDCC — a blockchain data infrastructure for impact management disintermediation, is commissioned by the SIE Fund of HKSAR Government today to deploy the technological solution on 11 impact management intermediaries and their 500+ subsidiaries social service agencies across all sectors and potentially covering 200,000+ users from grassroots communities. Shanzhai City has been incubating the concept of IDCC since 2018, received funding and supports from Cyberport, to explore the decentralization of impact metrics and measurement workflow at the frontline of social services through blockchain and cloud technologies. The recognition of the SIE Fund and the Government of Hong Kong is a huge encouragement to our consistent effort to develop the DIY development finance platform.
Shanzhai City has been developing the intellectual properties behind IDCC including the capacity building programs to construct impact data literacy for the social service and social finance agencies to adapt to the new paradigm shift of digitization and decentralization of the world. Moreover, Shanzhai City also worked closely with the ixo Foundation to build the protocol level blockchain technologies to adapt to such the change of workflow of impact measurement and future social finance.
Chairman of ixo Foundation, Dr. Shaun Conway, stated,
‘The world is tired of the garbage-in-garbage-out dataflow for impact measurement, and longing for authenticated, high resolution and timely dataflow for more accountable impact measurement, thus automated, programmable and decentralized finance for social development can be based on those data and will become practical.’
CEO of Shanzhai City Dr. Tat Lam responds,
‘The decentralization paradigm shift of the world has already been brought by the Covid-19 pandemic, so the next big thing is no longer the future, the singularity has happened already.’
Shanzhai City will continuously work closely with IDCC and construct IDCC’s sustainable self-capacity in the next few years. Shanzhai City will further explore launching the time voucher community currency program, tokenized microfinance, and micro-equity program with IDCC based on its 200,000+ grassroots users, for whom, a lot of them are unbankable. We wish ultimately to provide digitized social service and social finance solutions to all 1.3M grassroots community members in Hong Kong. Other than that, Shanzhai City is currently exploring scaling up the IDCC methodology to Singapore with local partners.
