ReFi Türkiye: A Theory of Change

ReFi Türkiye: A Theory of Change

Consequences of man's footprint on nature do not only affect individuals or countries. All attitudes and approaches are now transforming the entire global system, and in doing so, are creating lasting consequences for each of us.

2021 was a significant year where we saw how web3 technologies could be utilized in the context of social impact. However, as of the first quarter of 2022, we have witnessed even more possibilities emerging. Recent developments such as crypto philanthropy, socially and environmentally focused NFTs, the growth of ClimateDAO, the spread of decentralized science (DeSci) movement, and delivering aid to those affected by the war in Ukraine through crypto have completely transformed impact and benefit-oriented initiatives. Recent developments have reshaped impact and benefit-focused efforts.

All these have shown us that emerging technologies like blockchain or NFTs can enable the development of different solutions while addressing various social and environmental issues such as youth, climate change, and humanitarian aid. Investments in these technologies and the surrounding entrepreneurial ecosystem have also been revitalized by the potential of Web3 to solve our world's problems. In line with this potential, for example, the UNICEF Venture Fund has created a program focused on making equity-free cryptocurrency investments in early-stage nonprofit tech startups to provide seed funding and mentorship. The ReFi movement, with its focus on Web3, finance, and social impact, has shown us another way to address global issues.

The ReFi (Regenerative Finance) movement embraces a new approach aimed at enabling both financial returns and positive change.

Therefore, money here is not a goal but rather a tool (and indeed, a good one) that transcends linearity and sustainability. [2] With its aim of a new economic paradigm, ReFi brings the potential for transformative change through an integrative approach to repairing existing resources and systems.

“Our economy has become an anti-economy, lacking a solid economic foundation and economic virtues, turning into a financial system.” - Wendell Berry

Crises and conflicts around the world necessitate a global paradigm shift. ReFi Türkiye is seeking a response to this, and change theory emerges at this very point. So, what does "change theory" entail? We can view change theory as a fundamental tool for measuring social impact. Put simply, as described by Paul Brest, it can be explained as the empirical basis underlying any social intervention. In simpler terms:

Change Theory is the process of articulating how a project or process generates impact by correlating its goals and how change is created in reaching these goals.

ReFi Türkiye: A Theory of Change

“If you begin to understand the foundations of the living planet and the vulnerable interdependence of the world of living beings, what type of economic system would serve this?” Kate Raworth, Flourish Systems Change

Our Goal in the First Stage;

Finding leverage points for seeking alternative paths by bringing together potential actors envisioning an impact-driven and inclusive future.

Our interim goals include,

Sharing knowledge and learnings by creating content through various channels related to ReFi.

Bringing together young talents, Web3 actors, and the impact ecosystem within the framework of ReFi.

What Do We Want?

  • Discovering the driving forces in systems thinking
  • Accelerating the measurable impact journey in the fields of restoration
  • Understanding collective production spaces by experiencing new technology narratives

What Will We Do?

How Will We Create Change?

We are creating a space that rethinks the foundations and virtues of today's economy by involving young people and institutions. Thus, we aim to develop a participatory and collectively impact-focused perspective.

We are establishing mechanisms that enable collaborative learning and production for those contemplating finance, technology, and social impact. In doing so, we aim to bridge the gap in the sector.

“We made finance up. We can make it up again.”  Joy Anderson, Criterion Institute

As ReFi Türkiye, we believe in closely monitoring the effects of web3 on a global scale to ensure that it brings about the transformation we need, and progressing collectively through learning.

You can reach out to the imece team, who have been working on the theory of change in impact entrepreneurship for 5 years, to learn more.