ixo and Weeve: Partnering to make impact the most verifiable and intuitive action in the future Impact Economy
“As impact investing has grown into a worldwide practice, the ability to measure and demonstrate the impact of portfolios, individual investments, and impact organizations has become increasingly vital”.
*Quote taken from the IXO_Technical_Whitepaper, original source.
The impact economy is the new trillion dollar investment opportunity with relevant assets experiencing an almost ten-fold increase from 1995 to 2014. Despite this growth, there is still great room for improvement, notably in verifying real-world impact. In the current data economy, such metrics are produced through the vast array of sensors distributed throughout the societies and economies subject to the impact investment.
Providing such data points ensures transparency to the numerous stakeholders typically involved in impact investment projects, and adding certainty that investments are being made in the appropriate areas.
On this note, we are proud to announce our newest partner, ixo, operating in the Impact Economy.
Background on ixo and Weeve
- ixo Foundation, a Swiss non-profit foundation, provides the Impact Economy with a new data-driven operating system that solves the current issues in impact investing, results-based finance, and sustainable development by enabling projects to cost-effectively collect, verify and share their impact data. ixo provides a trusted global information network that is owned by everyone. Enabling anyone to become the creators of their own impact projects and a stakeholder in the projects they believe in.
- Weeve, based in Germany, is building a decentralized platform to transform IoT data into tradeable digital assets. Weeve uses patented cryptographic technologies to attest data (i.e. certify the originating source, harvest, process, transport etc. of ‘digital assets’ to the blockchain for trading) and curates a platform for entities to deploy novel data monetization services based on this certified data. Cryptoeconomic incentive mechanisms are used to incentivize users to supply high-quality data for the powering of autonomous machine-to-machine trades within the Economy of Things. Their core team includes IoT industry veterans, startup incubators, professors, and top-tier engineers.
Goals of the partnership
ixo and Weeve aim to make impact data visible, attested and therefore quantifiable. Delivering, evaluating and verifying results is imperative for data driven decisions and compensations based on presumed impact. High definition data and cryptographically proofed data is required to evaluate impact.
Weeve’s technological architecture in Fig. 1 & 2 demonstrate how data, down to the atomic level is attested from source and cryptographically secured while transported to the blockchain.
Today
- Together Weeve and ixo will demonstrate how impact data is attested and therefore verifiable
Tomorrow
- Weeve’s ability to harvest, process, transport data securely off-chain will help ixo automate the process of impact validation and eliminate manual process of verifying impact.
Future
- ixo and Weeve create a fully automated, off-chain impact verification system where verified impact data is kept on-chain. This future step would require the growth of the ecosystem as impact verification would need to take place on a hardware level
Going forward, ixo and Weeve look forward to ‘Valuing what counts and counting what matters’ all facilitated by blockchain technology and attested data.
Community is key — stay updated
Press contacts
Kasey Davies
Marketing Lead, Weeve
kasey-leigh.davies@weeve.network
Sophie Smithers
ixo via Cryptoland Agency
