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Concept: Smart Social Contracts - Make companies' CSR promises transparent
Team: Massimo and Subhankar
We champion and advocate for a just and equal world, and spend all our time harnessing the superpower abilities of social pioneers, innovators and civil society leaders to fast track radical system transformation. Being a fast growing social start-up ourselves initiated by Welthungerhilfe in 2014, we know the transformative power of ideas and what it takes to bring them to life. Over the years we have also developed a strong reputation for strengthening and deepening local participative social innovation processes and championing the role of the third sector in radical system transformation discourses.
Really cool idea to make corporates follow up on their promises and to give buyers confidence about where their money is going. More could be done with it to influence corporates on who to give to and to have two-way accountability. Charities must also be accountable.
Absolutely, everybody in the whole value chain should be accountable and responsible, and transparency in the process is the first necessary step. Thanks for the feedback.
very interesting perspective: hold companies accountable and make CSR contributions transparent! Other aspect to include could be what impacts is CSR investment generating, I remember having seen some failures like not functional toilets installed in schools etc. Not sure how this would be related to the blockchain technology?
Hi Elke, thanks for commenting, you raised a very good point.
What we can do at the first phase is to make sure that the money reaches the charities, or any other designed destination (like a school), as claimed.
How that money is applied is harder to verify objectively, but in the future we will be adding tools for the beneficiaries to show the impact donations had.
Feel fee to read more of our thoughts on our website and blog: http://reason.solutions
Hi Elke, thanks for the very pertinent question. I think the toilets supported by the CSRs are not properly done because there is a disconnect between the core business of the company and their CSR. Because they dont see the shared value. CSR for the companies has become a mandatory compulsion which they implement to oblize the government. I think this innovation helps the CSR to make their product stand out not only because of the quality and superior pricing but also because of the social commitment every purchase will serve. I think it's a fascinating idea and will make CSR a win win proposition.
Great Idea to make CSR companies promises transparent. You have a specific country in mind or we are talking globally? Big companies or medium-size companies? Once it is working: how to make sure that this tool is not used again for such companies to polish their picture...but now in real-time? Who is in charge of such platform?
Hi Dirk, very good questions.
Once the platform is live - estimated time another 4 weeks of development, any company can sign up and set up their promises. CSR should be an opportunity for anybody, everywhere in the World.
For companies, this is still a marketing tool: it convinces more conscious citizens to buy their products, because they can verify their promises immediately by checking an online tracker.
And this is good, we don't want every company to be non profit, but rather boost organizations that decide to move from words to facts, proving their claims.
We have established a company that is in charge of the development of the platform. But, as we use Blockchain technology, nobody can manipulate the transactions, nor us, nor the companies nor the charities. We make those Promises Unstoppable.
Feel free to read more about our thoughts on our website and blog http://reason.solutions