How Technology Will Bring a Better World

 

Technology can be a scary thing. The wrong innovation in the wrong hands can cause catastrophic suffering and devastation. At the same time, however, technology can be a (sometimes literal) lifesaver when discovered/created and used properly. We are very much at a stage where humanity has the chance to take either fork in the road, as we have reached amazing peaks with our technology and it’s now time to see what we do with it. The positive is we now most definitely have the technology and knowledge to change the world (in a good way).

The even better news is there are amazing groups out there that see the potential in technology and are using it to fix the many ills that plague mankind.

Let’s take a look at what they are doing.

Impact investing is such an incredibly important social movement and it is fantastic to see its growth. Now, thanks to technology, people and groups that want to make a positive imprint on the world have the tools available to connect with the right agencies and start the process to offer assistance through finance.

Northern Impact is one such company that is aiming to maintain a bridge between investors and impact companies. The Toronto company knows the potential that exists in impact investing and is using its investment community to ensure the worthy causes in the impact investing market get the attention they deserve.

By creating a community in which knowledge can be shared and alliances can be made Northern Impact will help the impact investment market grow and improve, fostering both collaboration and social improvement.

So much opportunity exists when financial knowledge and capital gets shared. It’s great to see impact investing being used in this way.

For those with a desire to fix problems across the globe Impact investing is the best way to help causes outside of your circle. Impact investing aims to reach such important causes and help prevent catastrophes—but it also helps on a smaller scale.

Financial inclusion is an issue that, yes, ranks below obvious problems like famine and disease, but its effects impact other areas of people’s lives and is incredibly important. Safe and easy access to capital is vital for a healthy life.

Both FinTech and impact investing are helping to improve financial inclusion across the globe. These powerhouses are actually a great match for each other and, when working together, really help increase financial inclusion.

Companies like Deetken Impact Fund  know this and are using the tag-team to help social enterprises across the globe and improve financial access. They recently partnered with FINCA to help provide loans to the unbanked in Haiti, with an aim of helping low-income women and creating employment in struggling areas.

This is a good example of the important role impact investing plays in our world and why it (and FinTech) needs to expand.

Another way technology is helping better the world? Giving people the trust they need to invest their time and money in impact investing.

Thanks to controversies and corruption many people have a negative view of charities and causes and the declining levels of trust can be damaging to their bottom line.

Enter blockchain to provide an answer.

Imagine you could access a database that allowed you access to proof of impact, allowing you to verify a company or cause’s actions and, well, impact. It would solve the stigma problem, wouldn’t it?

This is what Ixo Foundation is aiming to do. Its distributed ledger will collect, verify and display data on sustainable development and relevant organizations. This global information network will help impact investing grow and thrive, as it will help reduce fraud and corruption while increasing trust and insight in the field.

Trust is a vital element in any organization that relies on outsider funds and solid facts are the best way to build said trust. A Giftcoin study found that donations to charities would almost double if the causes were more transparent about their financial information.

This shows the important role blockchain has in impact investing’s growth and yet another amazing use of the technology. It’s also a solid example of how knowledge can be power.

Humanity has so much potential in its collective body. We have done amazing things in our time on this planet and can still do so much more. The technology we have created can help us do so much if we use it properly.

Blockchain, FinTech and impact investing are three technological powerhouses we can use to our advantage. Used properly we can help solve so many of the world’s problems.

It’s great to see that entrepreneurs have recognized this fact and are working with the technologies to make amazing inroads and I look forward to seeing the brighter future they help create.