Manila Residents Get Paid In Ethereum For Helping Polluted Philippines Ocean Locations
The Manila Residents Will Be Paid In Ethereum For Cleaning Up The Polluted Beaches
The residents of Manila will soon be rewarded in Ethereum if they clean up some of the heavily polluted beaches that are found in the capital city of this nation. All this will be made possible through a decentralized app that has been based on the Ethereum network.
Joseph Lubin, the Ethereum co-creator and the CEO of the ConsenSys, which has been considered to be one of the most massive blockchain software development you can find in the world, went on to say the participants in Manila will be paid in ETH when they spend just a few hours to clean up the beaches.
The ConsenSys and the Bounties Network are providing a new type of model where it will allow people to fund causes directly without the use of intermediaries easily.
The Philippines Has Proved To Be The Best Place To Start
The Bounty concept has been considered to be a viable application that can be used within the blockchain technology. It is because participants are able to efficiently and transparently use the public ledger of any blockchain network.
It has been designed as a dAPP on the Ethereum platform, one that will enable any user to quickly create the bounties and be able to reward the participants with Ethereum. Thus, this platform will be easily used in supporting different initiatives and causes that are running.
The ConsenSys Impact, which is a subsidiary of the New York-based ConsenSys, went ahead to introduce the non-profit initiative which they called the Bounties for the Oceans, a project that was established to ensure they promote the usage of blockchain within the country.
In a year, plastic pollution costs about 100,000 marine animals and one million seabirds. But with the Bounties for the Ocean, the company is asking people to submit their proof of the plastic cleanup contribution they have done as a way of fostering this new positive longer-term behavioral shift. An initiative that will push people to stop depending on the centralized system and just go out and do it themselves.
This initiative has come at a time that the Philippines has gone ahead to re-open the Boracay. A place that has been considered to be a very popular tourist destination as it has been known for its crystal clear seawater. A place that has become an acclaimed diving spot one that has distinct powdery white sand.
The Philippines has been considered to be the best region in which a non-profit blockchain initiative should start, the reason being; the country has been able to adopt the crypto coins quickly. As Bitcoin is used as a form of payment in most areas while having the central bank recognize the coin as a remittance method.
Accordingly, the use of the crypto-coin within the country has genuinely increased, one which has been facilitated by the work of the platforms that are available locally, like Coins.ph. Platforms that have been able to provide significant liquidity to the local users within the country.
ConsenSys And The Union Bank
The ConsenSys platform went ahead to secure a strategic partnership with the Union Bank; this is back in May. The Union Bank has been considered to be one of the largest commercial banks that is based in the Philippines. They went ahead to partner so as to efficiently conduct a payment system that is able to operate efficiently in real time. The pilot test will be done with about five rural banks.
But this is not all we shall see from this great movement as there are large companies, this is including the ConsenSys platform and other high profile conglomerates within South Korea, who have taken the initiative to work with businesses, individuals and several crypto ventures within the Philippines in helping the local market to sustain the current exponential rate of growth.