What is the “2% for Web3 Impact” pledge? - Crypto in Plain English - Episode 273 - by cryptohunt.it

What is the “2% for Web3 Impact” pledge?

Welcome to the Cryptohunt Jam, where we spend one minute a day to explain crypto. In plain English.

Happy Friday – and welcome to another episode about the one topic that excites us the most here at cryptohunt: How blockchains can make our world a better place.

Today, we’ll talk about the “2% for Web3” initiative, a project that aims to pump over $20 billion dollars into efforts to combat climate change, poverty, and lack of financial access.

But we need talk about how we got here in the first place. If you look around carefully, you see a lot of pressing issues in the world - we are destroying our planet even faster than predicted, the gap between rich and poor is getting wider, and despite the internet bringing access to information everywhere, some people don't even have basic financial tools like bank accounts, making any progress out of poverty impossible.

But it gets more frustrating: While most of us agree that those are problems, our system fails to bring the change we want. Banks invest your money where it profits them the most, and that happens to include oil, gas, and defense companies. Governments pledge to keep Co2 emissions low and miss targets every year.

Feeling powerless? Not so fast, because for the first time in decades there is hope on the horizon: The immense power of blockchain technology can provide the building blocks to recreate our financial system from scratch - because governments and companies won't. We might be able to turn this ship around after all.

Which brings us back to the “2% for Web3 Impact” pledge: Created by the Celo Foundation, its goal is to bring investors with very deep pockets from all industries together. This is also known as "impact investing" and is already happening. Currently, over 1 trillion dollars are invested with impact in mind - and the plan is to redirect 2% towards impactful Web3 projects, hence the name.

This is really smart if you think about it: Money talks, so just use that money to move mountains. Projects like the “2% for Web3 Impact” pledge are fighting the system with its own weapons, and use the power of technology that governments and companies can’t influence.

We are definitely excited about it and keep our fingers crossed that the initiative exceeds their $20 billion dollar target by far.

And with that, we wish you a happy weekend, and leave you with this one thought: Maybe changing the world is not just possible, but as simple as thinking about where you invest your money.

This podcast is produced by Cryptohunt.it the easiest place to learn crypto. Copywriting is done by Arndt Voges, Social Media is done by Brett Holleman, Design is done by Carmen Rincon and my name is Christian Byza, Co-Founder of Cryptohunt and I am your host of this daily show.

Disclaimer: This podcast references our opinion and is for information purposes only. It is not intended to be investment advice. Do your own research and seek a duly licensed professional for investment advice.