The next Ethereum hardware hackathon (ETH), ETHDenver, is partnering with UNICEF on a blockchain rewards token system, according to a press release shared with Cointelegraph on January 31. The objective of this token is to encourage developers to create projects that promote social good, according to press releases.
ETHDenver, which will be held February 15-17 in Denver, Colorado, has partnered with UNICEF Ventures, UNICEF France and the ETH Rewards Network on the prototype of what is called a “positive action token”, The company stated in the press release.
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Although the token still has no name (in fact, its creators are appealing to ETHDenver assistants to help find it), it is part of an incentive program called “The Impact Track”. As Nick Rodrigues, delegate of diversity and impact of ETHDenver, pointed out, the program encourages developers to think systematically about the positive social impact of a specific piece of technical innovation:
“For example, if someone had a project in which they developed a way to work more efficiently, which would require less energy consumption, they would be meeting a sustainable development objective.”
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As a non-monetary and value-based community currency, the token can not be exchanged for a fiduciary currency, according to the organizers. Instead, users can use their tokens to get early access to future UNICEF and Impact Track events, tutoring sessions, incubator support and similar offers. ETHDenver has also presented the token as “digital public recognition of positive actions”.
In a separate blog post published on January 30, ETHDenver and MakerDAO (MKR), creator of the Dai (DAI), a collateralized stablecoin with Ethereum; they have also announced the creation of an emerging token economy of ETHDenver based on an ephemeral “local currency”.
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Reportedly, the marathon attendants will each be given a unique “xDai” wallet, which runs on their phone’s default web browser and is pre-loaded with the local currency, nicknamed “buffiDai”. The currency is linked to the Dai and can be exchanged for food, drinks and activities at the event, reports the blog post.
As previously reported, the positive action token represents only one of UNICEF’s many incursions into the blockchain space. Last month, the UNICEF Innovation Fund announced that it would invest USD 100,000 in six open source blockchains that work towards humanitarian goals.
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In February of last year, the organization called on PC players to use their computers to mine ETH and donate their profits to a charity campaign in favor of Syrian children.