ConsenSys Social Impact – a program designed to build blockchain-based solutions for global humanitarian issues – is working with MakerDAO and optiMize to launch a new Blockchain for Social Impact Incubator at the University of Michigan in Ann Arbor. It is the first program sponsored by the university of its kind.
Students taking part in the course will receive mentoring and guidance from blockchain consultants, as well as potential funding, while working to create blockchain-based initiatives to improve social well-being. The finalists will be nominated at the end of the year and will receive funding to promote their projects.
OptiMize became usable in 2012 as a way to offer workshops and funding to students wishing to design self-orientation projects and social impact. Individuals accepted into the program work for about five months to create profiles of their projects, build prototypes, develop plans and engage stakeholders. OptiMize has more than 3,000 students and has given life to over 400 social projects, including projects for Pangea, which supplies unused medical supplies to underfunded hospitals.
MakerDAO is a decentralized platform created to provide stability to the cryptocurrency arena. The company offers its own digital token called Dai, a stablecoin referred to the US dollar. Students seeking to build payment solutions during their time in the program are encouraged to use MakerDAO's smart contract capabilities for added security.
Robert Thomas Greenfield is the global technology leader for ConsenSys Social Impact. In an interview with Bitcoin Magazine stated that programs like these are important. Not only do they introduce new generations to blockchain technology, but they also teach students to combine their technical knowledge and business know-how to ensure they are ready for anything.
"Very similar to the Internet, in a decade it will show that knowing the basic elements of this technology, how to use it, will be a professional expectation," he said. "I think we are leaving a period in which there is complete segregation between those with technical knowledge and those with business knowledge, and both communities will need to have an interdisciplinary approach to their work, and this is particularly true in the government and social sectors. of opportunistic intermediaries in many of today's processes is the greatest change we will experience. "
Greenfield believes that the need for government accountability and transparency is at the highest levels. It suggests that the program with optiMize can be used to expose political corruption and potentially rebuild cities like Detroit or Michigan Flint. Both cities have been constantly plagued by crime, poverty and environmental problems, which Greenfield blames for the retarded efforts of corrupt officials, and blockchain technology can potentially be used to build long-term solutions to these problems.
Offering examples of such solutions, Greenfield said: "Resource allocation tracking applications could bring more transparency to government management.These resilient cities have a history of being held back by corrupt politicians and continually surviving the network with the collective power of their local communities. "
Citing the Flint water crisis, Greenfield further explained:" It is possible to develop blockchain applications that automate the delivery of aid through different aspects of the recovery initiative. , safeguarding guarantee funds to prevent government abuse.The immutable certificates of water purity could also be useful, using waterline and hashing filters as IoT [Internet of Things] chain data so that community leaders can refer to tamper proof evidence that the circumstances are better orate or less than the statements provided by government officials or public service companies. "
Greenfield states that, above all, blockchain technology creates an environment in which security against corruption and human error increases significantly and states that students need to be directly involved in power-building and the presence of blockchain technology.
"The idea of creating environments without trust that are more risk-averse and more automated is essential to eliminate the unreliability of human-guided exchanges," he commented.  "People have desires and temptations that can encourage them to work against the people they should support, and it is precisely this flaw that mainly causes dysfunction in the government and social impact. Students need to understand when there is an opportunity for a system without trust, how to build that system and, above all, how to properly design that system so that it meets the needs of any stakeholder they think is most useful. "