Incentivise and empower society to eradicate food insecurity worldwide, bringing together all stakeholders and their resources.
What’s your innovation or solution? How does it work? (1500 characters)
THE INDIVIDUAL CONCEPTS INVOLVED
- Social Policy Bond
- Social Impact Bond
- Effective Altruism
- Decentralised Autonomous Organisations
ELIMINATING FOOD POVERTY
Bringing all the concepts mentioned above together to define, fund and incentivise sustainable social outcomes. The model applies to achieving any social good. We choose to start with food poverty.
As with SIBs, we have different roles being performed by different parties. As with SPBs, market forces determine the allocation of effort and resources towards the most achievable outcomes by different providers. As users contribute (in any way) towards an outcome, they get rewarded by ‘coupons’ which become redeemable after the outcome is achieved, incentivising further involvement.
The technical development of the decentralised platform itself becomes one of the first outcomes, incentivising the development and maintenance of the platform itself.
We also benefit from and help the other efforts towards the same outcome, e.g. “Share the Meal” app and the blockchain payment systems developed by the World Food Programme. This is important in order to provide a multiplier effect to whatever is already working, even if in a limited way and scale it up.
In the long term, the donors and providers become incentivised to work towards outcomes that are more achievable, channeling more funds and efficiencies at the same time – making a real impact, one outcome at a time.