Connecting Communities to A Decentralized Value-Driven Economy
by Karnika E. Yashwant (Mr. KEY) and Mitch Rankin
Forward Protocol, the ‘WordPress’ for Web 3.0 applications, provides open-source, drag and drop, no-code blockchain toolsets for decentralized value transfers, and a bridge for community currencies to connect to a global economy.
Forward Protocol provides the framework to bridge social and community tokens, as well as Community Inclusive Currencies.
Social or community tokens are a type of cryptocurrency-based around a brand, community, or influencer. It is a way for internet groups or celebrities to further monetize their brand beyond standard methods. Social tokens connect creators and content consumers directly. With no intermediaries in their interactions, they drive actual value creation by plugging into existing community-building efforts around the creator. These tokens give a holder access to specific communities based on the blockchain, along with the perks and exclusive rewards associated with them. In essence, they are the doorway to the community on the blockchain.
Community Inclusion Currencies (CICs) introduce a replicable mechanism for communities to eradicate poverty by creating connected, inclusive, and sustainable local economies using community currencies and open-source blockchain technology. Source
This provides a direct solution to local communities. Within these communities, there are intelligent people that will benefit from gaining access to quality education and global experts for two primary reasons -
- 1.Their learning would be accelerated and ultimately benefit the local community as the education level increases and the community gains the knowledge they need to solve challenges at a local level. An example could be a village in Africa, with access to the solutions and learning needed to solve local challenges, issues like HIV transmission, agricultural issues, and conflict resolution, as well as giving promising students access to other areas such as healthcare, business, technology etc could become the smartest village in the region within one year.
- 2.Giving promising students access to the global marketplace and the financial benefits that would bring to themselves and their communities.
The importance of these community-based impacts cannot be overemphasized, and we should not limit the potential of individuals on the basis of their local circumstances or geographic location. Under the right conditions, and with the right incentives they can heaven impact both inside and outside their local community.
Data shows that funds earned externally and sent into communities can have a multiplier effect on trading within CICs.