Corporate Social Responsibility on blockchain
Two years ago I saw this presentation of Dan Larimer, at Virginia Tech, where he addressed different use cases of enterprises adopting blockchain, not because of tokens, but because of the “value added by it’s security, auditability, and accountability”. This year, for the USA presidential elections, Associated Press, which has been tracking vote counts in U.S. elections since 1848, decided to publish it’s votes count on blockchain in real time, for the same exact reasons.
In a world where it’s easy for anyone to create a “news” site, traditional media is looking for better ways to ensure the integrity of their content. With fake news on the rise, traditional media needs to evolve, so instead of charging the reader to access their content, Associated Press is adding value to the integrity of the vote count in an unprecedented way. Two years after Larimer’s talk, we can now witness his vision being implemented.
“ The liability for not using industry-standard best practices is potentially huge. So that’s why I’m confident that blockchain technology is going to be relatively ubiquitous. It’s going to be completely transparent and no one’s going to know they are using it. Because it’s not going to be pushed by people directly. It’s going to be by businesses. Businesses that are looking for efficiency, security, reduced liability, regulatory compliance. It’s going to fundamentally transform every area of society. From banking to government, to voting, you name it.”
Food for Life Global (FFLG), a nonprofit organization (501c3) based in Delaware, represents an international network of over 200 plant-based food relief charities in 60 counties serving up to 2 million meals daily. For this reason, FFLG is the principal charity partner of the feedOM kindness ecosystem that offers the OM Guarantee™, a certifier of measurable Corporate Social Responsibility.
Following the lead of Associated Press, feedOM is also using the EOS blockchain to capture purchases of their OM Guarantee™ certifications, and the subsequent contributions that are passed on to their charity partners to feed needy children, feed rescued animals, and/or plant trees.
At the member directory at feedOM’s webiste, the public can see OM Guarantee™ certified companies and track each and every transaction made, published on the blockchain. This is the first milestone in a three-step plan to improve the transparency of their operations. The second milestone will involve the charity partners confirming the donations received on their end and the third milestone will be to transfer these funds to a token pegged with USD.
“ Rather than regulations coming out that are going to try to suppress blockchain technology, I believe It’s going to be mandated, I believe that companies that don’t adopt these standards are going to be like companies that don’t secure their infrastructure today and cause losses to their customers”
This is another example of how companies can reduce costs in infrastructure, adding value for their customers, and it’s my opinion that we will see this kind of adoption more common in the near future.
I’m glad to be able to help feedOM blockchainifying their operations, by a thousandth of the cost of what other blockchain companies offered. If you’re interested too, please send me a message.
Originally published at https://www.linkedin.com.
