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A decentralized application (dApp) based on the Ethereum network (ETH) will begin to reward the inhabitants of Manila, in the Philippines, with ETH to clean up a heavily polluted beach in the nation's capital.
Joseph Lubin, co-creator of Ethereum and CEO of ConsenSys, the world's largest blockchain software development company, He said:
"In Manila, participants will be paid to ETH for a few hours to clean up one of the most polluted beaches in the world, Bounties Network and ConsenSys Impact are demonstrating a new model where people fund cases directly without intermediaries."
Because the Philippines is a great place to start
Bounty has been recognized as a valid application of blockchain technology because participants are compensated transparently using the public ledger of a blockchain network.
Bounties Network, a dApp on Ethereum, allows anyone on the platform to create awards and reward participants with ETH, supporting various causes and initiatives.
Recently, ConsenSys Impact, a subsidiary of ConsenSys in New York, introduced a nonprofit initiative called "Sizes for the oceans: Philippine Pilot – Sustainable and Verifiable Plastic Cleaning" to promote the use of blockchain in the country.
"Plastic pollution costs the lives of 1 million seabirds and 100,000 marine mammals in the year, fish eat plastic and eat fish, causing $ 8 billion in marine ecosystem damage every year. With Bounties for the Ocean, we ask people from all over the world to present verifiable evidence of their direct contribution to plastic cleansing as a means of promoting widespread behavioral change over the long term.Do not depend on centralized organizations, go out there and do it by only ", read the program.
The initiative comes at a time during which the Philippines recently reopened Boracay, a popular tourist destination in the country known for its crystal clear water, acclaimed diving spots and the characteristic powdered and powdery white sand after the island has suffered a heavy pollution.
The Philippines is considered an ideal region to initiate non-profit-free blockchain initiatives because the country has adopted cryptocurrencies like Bitcoin as a legitimate form of payment and the central bank has officially recognized Bitcoin as a remittance method.
As a result, the use of Bitcoin and other large cryptocurrencies such as Ethereum has increased rapidly, facilitated by the work of local platforms such as Coins.ph that have provided significant liquidity to local users.
Through collaborations with major commercial banks, remittance shops, credit card companies, grid operators and convenience stores, Coins.ph has allowed cryptocurrency users to deposit and withdraw digital assets through tens of thousands of physical locations. The platform, which remains the largest cryptocurrency application in Southeast Asia, now has over 5 million active users.
ConsenSys and Union Bank
In May, ConsenSys also entered into a strategic partnership with Union Bank, one of the Philippines' largest commercial banks, to conduct a retail real-time retail payment system pilot test with five rural banks.
At the time, the head of technology and operations of the Union Bank, Henry Aguda, said:
"With this [blockchain platform], they do not have to spend anything. They only need to upload the i2i application to their computers, tablets or smartphones, so they can perform bank-to-bank transactions connected to blockchain. "
A large number of companies, including Consensys and several high profile conglomerates in South Korea, are working with individual companies, businesses and cryptocurrencies in the Philippines to help the local market support its exponential rate of growth.
Shutterstock foreground image.
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