Open Source Impact Measurement System for Catalyst Proposals, NGOs, & Cardano Native Tokens
Problem
Lack of tailored impact measurement system (IMS) for blockchain projects hinders transparent evaluation, resource and finance allocation in Catalyst, for grassroot led impact.
Total to date
This is the total amount allocated to Open Source Impact Measurement System for Catalyst Proposals, NGOs, & Cardano Native Tokens.
About this idea
NB: Monthly reporting was deprecated from January 2024 and replaced fully by the Milestones Program framework. Learn more here
[GENERAL] Name and surname of main applicant
Impact Web3[GENERAL] Are you delivering this project as an individual or as an entity (whether formally incorporated or not)
Entity (Not Incorporated)[GENERAL] Please specify how many months you expect your project to last (from 2-12 months)
6[GENERAL] Please indicate if your proposal has been auto-translated into English from another language
No[GENERAL] Summarize your solution to the problem (200-character limit including spaces)
Developing IMS: A targeted system to accurately measure and report the impact of blockchain projects in Catalyst.
[GENERAL] Does your project have any dependencies on other organizations, technical or otherwise?
No[GENERAL] If YES, please describe what the dependency is and why you believe it is essential for your project’s delivery. If NO, please write “No dependencies.”
N/A
[GENERAL] Will your project’s output/s be fully open source?
Yes[GENERAL] Please provide here more information on the open source status of your project outputs
The project will be open source. We will be providing this framework to be open-source so it can be integrated into many different communities and ecosystems. This will allow the framework to set a standard for monitoring and tracking impact across projects in the Cardano community, and more broadly across the web3 ecosystem.
[METADATA] SDG rating
We are part of the team behind the creation and implementation of the SDG Proposer Tool.
This proposal indirectly connects to all of the Sustainable Development Goals.
The Impact Measurement System tool shall take into account and analyze all of the parameters from the United Nations Sustainable Development Goals Indicators, and the IRIS+ Impact Category System used by the Global Impact Investing Network (GINN).
Alongside its own parameters to test digital assets characteristics as the Manual Rating System, which intends to provide investors with a comprehensive and objective assessment of a project's sustainability and impact dimensions. And the ISSB GSRM, which helps evaluate and monitor the sustainable aspects of decentralized applications (DApps) and entities (DAOs).
[SOLUTION] Please describe your proposed solution
Problem introduction:
Current Environment, Social and Governance (ESG) ratings are not configured to effectively assess decentralized projects and digital assets, as they lack criteria tailored to the unique operational and impact dynamics of blockchain ecosystems.
Furthermore, moving beyond only risk management, traditional impact measurement frameworks are also ill-equipped for this task. They fail to understand and evaluate the nuanced societal contributions of digital assets, resulting in a significant gap in the ability to accurately gauge and communicate the true value and sustainability of blockchain innovations.
In this context, Project Catalyst confronts a specific challenge: it lacks a specialized impact measurement system (IMS) that can thoroughly capture and evaluate the distinctive impacts of its blockchain-based projects. This deficiency complicates the process of transparently demonstrating the effectiveness and societal benefits of these initiatives, thereby obstructing informed decision-making and the strategic allocation of resources necessary for sustainable development within the ecosystem.
Such an inadequacy in existing assessment tools highlights the urgent need for a new impact measurement system—designed specifically for the decentralized nature of blockchain—that can address these gaps by integrating a comprehensive understanding of blockchain technologies, their impact on society, and the governance models they employ.
Solution:
To overcome the shortcomings of traditional ESG ratings in accurately evaluating digital assets, we propose the implementation of the IMS.
Designed exclusively for decentralized environments like the Cardano ecosystem, the IMS uniquely assesses the social, governmental, and environmental impacts of blockchain projects. It not only integrates but also refines established global frameworks such as SDG (Sustainable Development Goals) alignment and the IRIS+ system, tailoring them to meet the unique demands of digital assets. The system encompasses and goes beyond comprehensive risk assessments that span technology, governance, business models, and ecological impacts, ensuring a holistic evaluation.
Our methodology emphasizes extensive community involvement to continuously enhance and verify the model and its scoring metrics, ensuring that it remains robust, transparent, and inclusive. By incorporating a broad spectrum of perspectives and expert insights, the IMS is designed to set a new benchmark in impact measurement, offering scalability and flexibility across various blockchain platforms.
The ultimate goal of the IMS is to empower stakeholders within and beyond the Cardano community to make well-informed decisions. This enhanced decision-making capability is expected to drive substantial positive change, significantly boosting both the sustainability and the accountability of initiatives within the Cardano ecosystem. By providing clear, reliable impact assessments, the IMS will facilitate better strategic planning and resource allocation, contributing to the overall health and growth of the blockchain sector for positive impact.
Benefits and Impact:
The IMS will revolutionize how stakeholders within the Cardano ecosystem and broader web3 communities evaluate and understand the true impact of digital assets. By providing a clear, robust method for impact assessment, the IMS will:
- Enhance transparency by implementing the IMS to ensure all project evaluations are transparent and accessible, promoting accountability across digital asset platforms.
- Drive informed decision-making with detailed, reliable impact ratings that help stakeholders align their investments with projects demonstrating real-world benefits and sustainable practices.
- Foster sustainability by highlighting projects with positive environmental and social impacts, encouraging the development of initiatives that contribute to sustainable impact within the web3 and blockchain ecosystem.
- Support compliance and reporting by helping projects adhere to emerging regulations on sustainability and social responsibility, providing a framework for consistent and accurate reporting.
- Promote standardization by setting a new standard for impact measurement with the IMS, facilitating its adoption across different blockchain platforms and enhancing comparability between projects.
- Strengthen community trust by making impact data readily available and understandable, thereby building trust among community members, investors, and external observers and reinforcing the integrity of the Cardano ecosystem, and of blockchain as an enabler of positive impact.
Ultimately, the IMS not only enhances the operational and ethical standards of blockchain projects but also positions the Cardano community as a leader in responsible and impactful innovation.
[IMPACT] Please define the positive impact your project will have on the wider Cardano community
The IMS will substantially enhance the Cardano community by boosting transparency and accountability, providing transparent and accessible evaluations of projects to promote ethical practices among developers and stakeholders. It enables more informed decision-making by giving stakeholders detailed impact ratings, enabling community members to get involved with projects that align with their values, and also for strategic investments in projects with significant, measurable and verifiable social and environmental benefits.
Furthermore, the IMS encourages sustainable development by supporting projects that contribute positively to both society and the environment, fostering a more sustainable blockchain ecosystem. It facilitates regulatory compliance, helping projects meet evolving standards and safeguarding their future growth. By setting new industry standards for impact measurement that can be adopted across various platforms, the IMS enhances the comparability and competitiveness of Cardano projects, positioning the ecosystem as a leader in responsible blockchain innovation.
Additionally, the system cultivates trust and integrity within the community by providing clear and understandable impact data, thus attracting more users and investors who value transparency and comprehensive impact assessments. Through these contributions, the IMS not only elevates the standing of the Cardano ecosystem but also drives its growth and the adoption of its technologies, demonstrating a commitment to impactful and responsible innovation.
[CAPABILITY & FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?
Impact Web3 team is composed of Teodor Petricevic, Razali Samsudin, and Cole Bartlett, together bringing a profound depth of experience in impact measurement, management, and reporting, crucial for the ambitious goals of the Impact Measurement System (IMS).
Each member has led and executed significant projects that demonstrate our capacity to handle complex challenges and deliver solutions with high levels of trust and accountability.
Joining Impact Web3, Teodor Petricevic, with his role at UNDP, has spearheaded initiatives that incorporate blockchain solutions for social impact across various regions, enhancing the operational and financial sustainability of numerous social enterprises. Teodor’s expertise in designing and managing impact business acceleration programs aligns perfectly with the objectives of the IMS.
Razali Samsudin has been instrumental in integrating SDG frameworks into blockchain projects, significantly contributing to the Cardano community's understanding and implementation of sustainable practices. His leadership in producing the Cardano Impact Report underscores his ability to synthesize and communicate impact effectively.
Cole Bartlett combines his background in economics and sustainability with hands-on blockchain application, having co-founded Impact Web3 and driven the development of Sustainable ADA's impact measurement tools. His projects, such as the development of an Impact Measurement Tool and Sustainable Goals Token, illustrate his practical skills in translating sustainability concepts into actionable blockchain-based applications.
Collectively, our previous work, including but not limited to, the Impact Measurement Tool research during Fund 7 and our involvement in Fund 10's Proof of Impact Platform, as well as ongoing contributions to Sustainable ADA's platform, showcases our comprehensive experience and proven track record in impact-focused projects within and beyond the Cardano ecosystem. This extensive background equips us uniquely to develop the IMS, ensuring it will be robust, transparent, and effective at assessing and promoting the positive impacts of blockchain projects globally.
Teodor Petricevic’s Background and Expertise
Teodor Petricevic is a seasoned expert in impact business development with over two decades of experience in enhancing social entrepreneurship across Europe and the MENA region. He specializes in designing innovation ecosystems, strategizing impact ventures and investments, and excelling in impact measurement and management. His significant role has contributed profoundly to the development of the social and impact economy on a global level.
Currently, Teodor excels in his role at UNDP, where he leads impact business acceleration programs and forges strategic partnerships and resource mobilization efforts. He has been a pioneer in promoting blockchain education across the UN ecosystem and applying blockchain technology to address programmatic challenges in developing countries, focusing on digital identity, digital payments, traceability, and boosting innovative finance mechanisms for civil society and startups, particularly in Eastern Europe, Central Asia, and Africa.
Teodor's extensive background includes designing sustainable models for social enterprises and managing complex multi-stakeholder projects. He has developed training and strategic planning processes that significantly enhance the operational and financial sustainability of numerous social enterprises and civil organizations. His commitment to advancing social impact through innovative technologies and strategic leadership continues to leave a significant mark on the global stage.
https://www.linkedin.com/in/teopetricevic/
Impact Web3
Sustainable ADA has a successful and dedicated track record in the Cardano community. They have transitioned into Impact Web3 which represents Proof of Impact Platform, Sustainable ADA, & Domino DAO. By Teo from UNDP and Sustainable ADA partnering to expand the work around the IMS they will be able to together create greater impacts across the ecosystem.
Sustainable ADAs pre-funding activities and impact measurement experience:
Sustainable ADA has been focused on Positive Impact in the Cardano community since Project Catalyst Fund 4. We received our first Catalyst grant in Fund 6 and have been helping give back and grow the Cardano community since then. Learn about our Catalyst journey below.
During Fund 6:
With the Cardano Aim team we helped with the research of adding SDG ratings to proposals in the Catalyst ecosystem.
Add SGD Ratings to proposals: https://projectcatalyst.io/funds/6/f6-partnerships-for-global-adoption/add-sdg-ratings-to-proposals-aim
Research in Applying Frameworks: https://projectcatalyst.io/funds/6/f6-partnerships-for-global-adoption/research-in-applying-frameworks-aim
During Fund 7:
Sustainable ADA during fund 7 did research to evaluate and look at different Impact measurement frameworks to find what works best for blockchain technology. We also did research on creating a token called the Sustainable Goals Token and the idea was to create a research based framework and platform for impact investing, monitoring and evaluation.
We created a white paper for both the Impact Measurement Tool & the Sustainable Goals Token:
Impact Measurements Tool White Paper:
SGT White Paper:
Impact Measurement Tool:
Sustainable ADA Goals Token:
During Fund 8:
Partnership Generation
Onboarding new Users:
During Fund 9:
Creating the Impact Measurements process and Tool for companies to help define KPIs, measure, verify, and report them, with a focus on SDGs impact.
During Fund 10:
Protecting Indonesia’s ecosystems - home to 1 % of the Earth's land area and rainforests with 10 % of the world's known plant species, 12 % of mammal species, 17 % of all known bird species.
During Fund 11:
We partnered up with the Catalyst IO, and Rare Network teams to help develop the content and help facilitate 26 Catalyst Working groups workshops across the globe. We also help put together an event in Barcelona Spain for the kick of the Catalyst Working Groups and the first in-person launch of a Catalyst Fund Fund12!
Cardano Impact Report 2023
We have had a lot of success while growing Sustainable ADA over the last few years. We have been closely connected to the Cardano community through our Project Catalyst proposing experience.
Learn more about all of our past funded projects here: https://sustainableada.com/catalyst/
Sustainable ADA has created: 48 individual stories on projects building in the Cardano community and making the world a better place.
More info here: https://sustainableada.com/news/
Sustainable ADA also created the Cardano Impact Report where they highlighted over 65+ Impact Project buildings on Cardano to make the world more sustainable and equitable for all.
Free Version can be found here: https://sustainableada.com/cardano-impact-report/
Reports Value:
“For those who are not in the Cardano community, this report is not just about Cardano. This is about an awakening to the wider global issues we face today, and a clear call to action, that our time has come to address these issues, head on. The report offers a path forward towards a sustainable and equitable future. By engaging with the innovative projects and initiatives presented here, you can also contribute to positive change and find solutions to the complex issues that burden our world, and at a minimum get inspiration to create your own projects, wherever you are in the world, and you can count on our community to guide you.” - Dr Mihaela Ulieru, Blockchain Pioneer, President at IMPACT Institute, World Economic Forum Expert and Chief AI Alchemist at SingularityNet
Sustainable ADA Partners and Advisors:
Dr Mihaela Ulieru - Chief AI Alchemist SingularityNET | Former Head of Strategic Impact at IOG
Alex Ross - Talk to Loop Lead | Former International Director of Programs and Partnerships at British Red Cross
Sunny Basra - CEO of SoundRig
Affendi Samsudin - Co-Founder at Streets of ADA - A Samsudin Brothers Projek team
Alain "Fusion" Clapham - FRSA | Curator | Educator | Public Speaker | Facilitator
The self-professed ‘Transformative Storyteller’ has presented shows for MTV and Sky, hosted events at Wembley Arena, interviewed the likes of Beyoncé, Dr Dre and Marvel-mastermind Stan Lee, and shared his story on the TED stage.
An experienced public speaker, educator and creative producer, he is now a lead facilitator for YouTube, empowering thousands of young people to become better Internet Citizens, and helps award-winning CEOs discover their own stories of transformation.
The driving force behind creative currency initiative #IITSPIRATION and founder of BMT and BWT – an immersive live experience celebrating the ‘awesome everyday’ stories of black men and women - Alain takes on all challenges with irrepressible energy, curiosity and a desire to get to the heart of the matter.
- https://www.linkedin.com/in/alain-fusion-clapham-b8824b29/
- https://www.instagram.com/iitstagram/?hl=en
- https://www.instagram.com/bmtstories/?hl=en
Sarah Margono-Samsudin | International Development Practitioner - Education for Sustainable Development Section@UNESCO and Secretariat Member of Mission 4.7 Organisation -
Fabrizio Shao - Adaptive Athlete | Disability Advocate | Web3 Brand Ambassador
- https://www.linkedin.com/in/fabrizio-shao/
- https://www.instagram.com/tv/CYHlrYXIEwC/ - Cardano Summit 2021 Keynote Speaker
[PROJECT MILESTONES] What are the key milestones you need to achieve in order to complete your project successfully?
Milestone 1: System design and development
Output: Development and completion of the IMS architecture, including a user-friendly interface and the initial set of functional prototypes that reflect the proposed impact measurement capabilities.
Acceptance criteria: A successful demonstration of basic functionality and interface usability, with system architecture receiving formal approval from the project's technical lead. The prototype should demonstrate the ability to capture and analyze impact data as outlined in the project's objectives.
Milestone 2: Testing and refinement
Output: A fully integrated system tested with data from pilot digital assets. The phase includes generating initial testing reports that analyze the system's performance under various operational conditions.
Acceptance criteria: The system must meet or exceed predefined performance benchmarks. Stakeholder feedback should be systematically gathered and incorporated, showing evidence of enhanced accuracy and improved user experience. Adjustments based on this feedback should be documented and implemented.
Milestone 3: Open source release
Output: Release of a fully documented codebase that is licensed for open-source use. This includes publishing the IMS on a reputable public repository, ensuring it is accessible for community use and further development.
Acceptance criteria: The codebase must be secure, comprehensively documented, and user-friendly, with successful repository setup confirmed. Initial external code reviews should reflect positive feedback, affirming the system's readiness and security standards.
Milestone 4: Asset rating and communication
Output: Application of the IMS to a broader array of digital assets. This phase involves the production and distribution of detailed communication materials and analytical reports that elucidate the impact rating process and the outcomes for each evaluated asset.
Acceptance criteria: Effective impact rating of a diverse range of assets, with successful dissemination of project results and methodologies across the Cardano community. This should be supported by tangible metrics of community engagement and positive stakeholder survey results, indicating satisfaction with the IMS's performance and utility.
[RESOURCES] Who is in the project team and what are their roles?
Teodor Petricevic
Serial impact entrepreneur, social business architect & consultant, social economy & civil society expert with more than 20 years of experience in capacity building and mentorship of social economy organisations and more than 15 years of experience in development of social entrepreneurship in Croatia and the CEE region.
Initiated and developed more than 20 social businesses and support organisations. Has proven project management/team leadership experience in transition economies, international experience with social economy programs (Europe, Asia, Africa), extensive knowledge of EU/WB civil society and social economy development policy framework and 10 years of experience in development of social / impact business support programs, mentoring schemes and platforms (rich experience in social business modeling and planning, development of social enterprise business and sustainability models and plans).
Will be bringing to our team:
1/ Project oversight, Programmatic implementation, Partnerships and resource mobilization;
2/ Advocacy and community engagement, Community building;
3/ Research and development - Innovation in IMM, Advancing social impact, Designing IMM frameworks, Testing and advancing IMS
Impact Web3 & Sustainable ADA
Cole Bartlett and Razali Samsudin Co-founded Sustainable ADA and Impact Web 3, and have been shaping it into what it is today.
It all started with the initial idea for Sustainable ADA back on April 20th of 2021 (Sustainable ADA 2021). Together, we co-founded it in June of 2021. We have backgrounds, professional experiences, and knowledge in education, economics, sustainability, and how blockchain technologies can be harnessed for good.
Cole Bartlett:
Co-Author of Recalibrating Value, Identity & Impact Through the Blockchain - Cardano Impact Report 2023
Bachelors in Economics and Sustainability | Blockchain/Sustainability Researcher | Social Entrepreneur | Co-Founder of Impact Web 3 & Sustainable ADA | Positive Blockchain Contributor | Socious Business Development Ambassador | Impact Measurement Expertise | Donation Officer for Yagazie Foundation | Co-Founder of Vermont Fishing | Decentralized Lead Generation | UNITE 2030 Youth Delegate
https://www.linkedin.com/in/cole-bartlett
Razali Samsudin: Editor | Lead Author | Subject Expert | Partnerships
Co-Founder of Sustainable ADA, Impact Web3, Streets of ADA - A Samsudin Brothers Projek
Co-Author of Recalibrating Value, Identity & Impact Through the Blockchain - Cardano Impact Report 2023
17+ years of experience as an interdisciplinary Educator from early years settings to postgraduate level, with a background in social sciences, humanities, and sustainability. Author, Writer, Editor, Digital Economy, Blockchain, Sustainability and Impact Measurements, Researcher (Research Lead Connecting SDGs to Project Catalyst and lead on the SDG Proposer Tool and SDG Search Tool with Cardano AIM #Blockchain4Good, #Cardano4Good, #NFT4Good). Social Entrepreneur, Catalyst Proposal Mentor. Wada UN SDG and Education Coordinator, PositiveBlockchain. Global Community Hubs and Impact Lead at Apex Fusion.
https://www.linkedin.com/in/razali-samsudin
https://twitter.com/Razlosophy
Catalyst Journey:
We joined Project Catalyst, Cardano’s decentralized innovation fund, during fund 4. After applying and learning from both funds 4 and 5 along with lots of support from Cardano community members and teams, we were able to construct a strong proposal together that focused on our goals and ambitions for Sustainable ADA, and the Cardano community’s goals. We submitted a proposal focused on helping Grow Cardano, and Grow Africa.
With this funding, we had more capacity to focus on researching and sharing stories from change-makers in Africa and the diaspora, who are engaging with Cardano, creating a better tomorrow, today.
Thanks to the Cardano community and the use of their voting power from holding and staking ADA, we successfully secured the funding we were seeking. This helped us to take significant steps towards fulfilling our vision and mission having secured these crucial and helpful funds.
Through our time in the Project Catalyst ecosystem, we have been able to create a lot of strong and exciting partnerships with projects and businesses all across the world. This has led us to develop new ambitions for the work we do and to expand beyond education.
More about the projects we have been involved in: https://sustainableada.com/catalyst/
Experience and Expertise
The Sustainable ADA team has experience working with Figma, Canva, Wix, Final Cut Pro, Da Vinci Resolve 17, Adobe CC, Microsoft Products (Word, Excel, Powerpoint, etc).
Sustainable ADA has experience and backgrounds in Sustainability, Economics, Humanities, Social Sciences. Along with work with NGOs, Social Enterprises, Freelance journalism, and blogging.
The team has been a part of the Cardano ecosystem since 2020 and is very dedicated to the Cardano ecosystem, having authored and published "Recalibrating Value, Identity & Impact Through the Blockchain: Cardano Impact Report 2023”. This was the first of its kind Cardano Impact Report. The Cardano Impact Report is a comprehensive publication that showcases the positive impact generated by the Cardano community. It is designed as a book NFT (Non-Fungible Token) to leverage the unique features of blockchain technology, ensuring authenticity, transparency, and immutability of the content.
https://sustainableada.com/cardano-impact-report/
Sustainable ADA community partners:
[BUDGET & COSTS] Please provide a cost breakdown of the proposed work and resources
[VALUE FOR MONEY] How does the cost of the project represent value for money for the Cardano ecosystem?
The budget allocated for the IMS project offers substantial value for the Cardano ecosystem, leveraging both immediate and long-term benefits.
Firstly, the IMS enables projects within the ecosystem to effectively and transparently demonstrate their real-world impacts. This clarity helps attract informed investments and partnerships, potentially increasing funding and support for these projects.
Secondly, the implementation of IMS enhances integrity and trust across the Cardano community by promoting transparency and accountability, which are crucial for attracting and retaining investors and stakeholders.
Furthermore, the IMS ensures projects remain adaptable and compliant with evolving global digital asset regulations, safeguarding their future operations.
By encouraging projects to quantify and report their social and environmental impacts, the IMS also fosters a culture of sustainability and responsible innovation within the ecosystem, positioning Cardano as a leader in sustainable blockchain technology. The scalability and reusability of the IMS mean it can be extended beyond Cardano, creating opportunities for further development and revenue.
Additionally, the investment in IMS builds technical and operational capacity within the community, which enhances the overall quality and impact of projects, driving ecosystem growth.
Therefore, the funding of this project represents a strategic investment in a tool that not only enhances Cardano's operational framework but also aligns it with broader business and regulatory trends, ensuring a significant return on investment through strengthened ecosystem foundations and enhanced external attractiveness.
Team
