Scoring Social/Environmental Impact https://cardano.ideascale.com/c/idea/418201 900188
Seira Yun
9 December 2022
19 May 2023
The proposed solution addresses the challenge in the following ways:
The overall question to be addressed by the challenge is “How could the Cardano technology be leveraged to build new solutions for positive impact valuation and monetization?”
Socious' Impact Score algorithm is an innovative solution for measuring users' social and environmental impact. The algorithm takes into account how users contribute their time to impact projects and assigns them a score based on their level of impact. Those who score high on the Impact Score are rewarded with THANK tokens, a unique form of impact monetization. This new solution for positive impact valuation and monetization has the potential to revolutionize the way we think about impact and sustainability. By incentivizing individuals to contribute to impact projects, we can create a more sustainable future for all. With the integration of the Impact Score algorithm, Cardano is poised to become a leader in the field of positive impact valuation and monetization. As more individuals begin to understand the importance of contributing to impact projects, the utility and adoption of Cardano will undoubtedly increase.
This project is highly relevant to the success of this challenge in a number of ways. Firstly, it presents innovative ways for impact-oriented projects to create financial value by issuing impact tokens. Socious' Impact Score allows these projects to create financial value by leveraging volunteers and freelancers to work on their projects without incurring too much financial burden. This is especially important as funding can be a significant challenge for these types of projects. In addition to this, the project also enhances the transparency and traceability of the impact generated by specific projects. This is done through Socious' Impact Score, which provides detailed information on how people are contributing to impact projects and the impact generated by these projects. By enhancing transparency and traceability, Socious' Impact Score helps to build trust and accountability within the impact community, ultimately leading to greater success for impact-oriented projects.
The project KPI is the following: “The code of the Impact Score Calculator deployed and fully functional”.
We have developed the code for the Impact Score Calculator here:
The calculation logic can be found here:
https://socious.notion.site/Socious-Impact-Points-Calculation-Logic-0f7186cfd2e843e088ef2781d1484d9a