In 2015, global leaders reached a consensus on 17 Global Goals to accomplish three paramount objectives by 2030:
- Ending extreme poverty
- Fighting against inequality and injustice
- Resolving climate change.
We find ourselves in the final decade to achieve these goals and surmount all global challenges. However, we encounter a coordination issue where investments and policies are not optimally allocated. It is imperative to swiftly embrace emerging global coordination technologies that can surmount present challenges.
Decentralized Web3 technologies hold the potential to enhance coordination in our endeavor to combat these issues, leveraging local expertise and stakeholders to guide policy and allocate resources strategically. We need innovative Web3 technologies to reimagine the financial infrastructure of the future with innovative and meaningful ways.
As we explained in detail in a previous newsletter, Web3, which benefits from blockchain to "decentralize" governance processes, is at the heart of a new economic paradigm, the regenerative finance movement.
Regenerative Finance: ReFi
In the most basic level, ReFi is an idea of evaluation based on the conservation and renewal of natural resources rather than their consumption within profit-oriented linear production systems.
Regenerative finance, is connected to regenerative economics theory, which emphasizes the establishment of systems that regenerate and preserve the essential physical resources for the welfare of our planet.
ReFi is a new financial system that fosters community prosperity and supports a sustainable planet. Its objective is to transform the existing economic paradigm that values resource consumption and growth as measures of success. It establishes an order in which our economic and ecological systems nurture each other in a 'good' way. ReFi values the public and the planet more than individual gain.
ReFi's mission is to systematize the incentives to realize regeneration. To address the current crises in a comprehensive manner, we need to develop alternatives to our existing systems, adopting regenerative frameworks that prioritize maintenance and the environment. A key tool to do this involves redesigning the very concept of money, recognizing our direct interconnectedness with the planet and shaping a new narrative.
Redesigning money necessitates an understanding of the principles of tokens and tokenomics (token+ economics), while taking into account the eight vital dimensions of capital (social, material, financial, vibrant, intellectual, experiential, spiritual, and cultural).
For a regenerative economic model to thrive, the requirements are as follows:
- to ascertain the value of protection and renewal,
- to transform this value into a tradeable asset
- to create liquidity for this asset.
Cases of ReFi Activities
- ImpactMarket and as in the case of the Good Dollar, the implementation of poverty reduction mechanisms such as Unconditional Basic Income (UBI) for vulnerable communities.
- EthicHub helps to improve the livelihoods of unbanked coffee growers in Chiapas, Mexico, by providing access to capital at low interest rates.
- Astral Protocol, Curve Labs and Kolektivo enable local impact economy supporting the regenerative management of urban food forests in Curaçao.
“Web3 for Good” Meetings
We are coming together with the Web3 ecosystem with a focus of the ReFi agenda!
'What kind of operations can emerge from the combination of Web3 technologies and the impact ecosystem?'' We sought the answer to this question at our first community meeting held at the Boğaziçi University Alumni Association (BÜMED) on September 8.
✍️ Web3 alanındaki önemli isimlerin, sosyal ve çevresel etki ekosistemi ile bir araya geldiği etkinlikteki panellerde; Web3 teknolojilerinin etki ekosistemindeki ihtiyaçlara nasıl çözüm sunabileceğini örnek uygulamalarıyla konuşmuştuk. Etkinliğin kısa videosunu buradan ve videonun tamamını buradan izleyebilirsin!
And at the 2nd event of ReFi Turkiye Web3 for Good Meetings, last week we met with actors in the Web3 field, particularly the blockchain communities of universities.
We came together to grow relationships between student communities, increase acquaintances and build a lasting ecosystem at the event. Thank you to everyone who participated, to see you at future events!
ReFi Türkiye Podcast 🎧️
🌱 Within the scope of ReFi Turkiye program, the 2nd and 3rd episodes of our podcast series, which we made with the pioneers who think and build on Web3, are online!
Web teknolojileri ile etki ekosisteminin kesişim alanlarını konu alan bölümleri Spotify, Apple Podcasts, Soundcloud ve Spreaker üzerinden dinleyebilirsin. Ayrıca bölümler içinde duyacağın kodla, podcast bölümleri için özel olarak hazırladığımız NFT’leri alabilirsin! 👀
We listened to Ali Ercan's words about the scope and motivations of his coordination-based work in times of disaster and humanitarian crisis. While talking about the examples of the crises we have experienced recently, which have developed abruptly and had dramatic consequences, we had a conversation that focused on social impact from international development to donation management and Web3 focus. You can listen to the podcast here and read the episode notes here.
In the 3rd episode of ReFi Turkey Podcast, we talked with Ayşegül Şensoy whom we know from her experiences in XYZ Technology, Istanbul Blockchain Women and S.O.S Chain, about social advocacy in the Blockchain ecosystem, the world that appeared with Web3 and its intersection with the impact ecosystem. You can listen to the episode here and read the episode notes on our Medium article.
Cryptopia: You can check out the documentary Bitcoin, Blockchains and the Future of the Internet here.