ETHDenver and UNICEF Partner to Create a Blockchain Bounty Token System

It has been announced that the upcoming Ethereum (ETH) hardware hackathon ETHDenver will feature a blockchain bounty. This bounty is as a result of a collaboration between Ethereum and UNICEF which aims to encourage developers to create blockchain-based tools for Social good.

ETHdenever is due to take place from the 15th to the 17th of February 2019 in Denver, Colorado. The prototype is being referred to as a positive action token and is being backed by UNICEF Ventures, UNICEF France and ETH startup Bounties Network along with Ethereum itself.

This project is very much a community effort as members of the Ethereum and blockchain community have even been asked to help come up with a name for the token. The token is sort of a larger program called “The Impact Track.” Which tasks developers with thinking of ways by which the world can be positively affected by blockchain.

“For example, if someone had a project where they happened to develop a way to shard more efficiently which therefore required less energy consumption, they would be meeting a sustainable development goal,” said ETHDenver Diversity and Impact Steward Nick Rodrigues.

This is an initiative that doesn’t focus on monetary rewards but rather on social good. As a result, the token that will be won in the bounty cannot be exchanged for fiat currency.

Instead, the holder of the token is afforded early access to future UNICEF and Impact Track events and mentorship sessions.

Blockchain and Social Good

This program marks a bit of a departure from the status quo. For a long time, many in the blockchain space thought about the industry from a purely profit-making point of view.

As blockchain becomes more mainstream, there is the expectation for companies in the space to engage in socially conscious practices just as mainstream firms are expected to. This was seen last year when various blockchain firms pitched in to help with several natural disaster relief projects

Just last month, the UNICEF Innovation Fund announced that it would be giving a $100,00 grant to budding blockchain firms that are working towards humanitarian causes.

These sorts of projects also do good for blockchain’s image. Partnering with an organization on the level of UNICEF lends the industry credibility and the emphasis on doing good rather than making profit helps remind developers of their responsibility towards the world around them. With time, more blockchain firms ms and events will likely follow suit.