Non-profit associations, citizen engagement and grassroot initiatives play an important role in addressing challenges that we are facing today. However, due to financial constraints, low engagement, limited access to qualified resources and due to coordination challenges, boosting innovation, developing sustainable solutions and scaling impact is difficult. To leverage different potentials, mobilize all possible resources and create synergies, new incentives and instruments for open collaboration and value exchange are needed.
What it does
We offer an open source collaboration platform where people can create collaboration spaces and issue own coins which they can allocated in a participative way to projects. Members in the network receive then coins from projects when they contribute with time, tool, services, resources, funding or with product discounts... The coins can be used by all members in the p2p marketplace to exchange products and services or to get discounts from supporting partners.
How I built it
We used an open source social network platform where we added a marketplace, accounting and transaction functionalities which interact with the Ethereum blockchain. Any members or group can issue it's speciafic ERC20 token and create with the community social value or common assets while distributing these coins to contributors.
Challenges I ran into
The biggest challenge was explaining the concept to potential partners and to community members, as for most people, it is not easy to imagine that they can issue own currencies and create a value around it. In the starting phase, the biggest challenge is to engage the minimum number of projects, contributors and partners, to build a circular economy and create reciprocity so that new members have an incentive to join and can see quickly an added value.
Accomplishments that I'm proud of
We have been selected in 2019 by UNICEF innovation fund as one of 6 cohort projects which have been supported by funding, mentoring and networking https://www.unicef.org/innovation/fundgraduate/CoinsenceWe are especially proud of more the 1350 community members which joined the network and helped driving the project and scaling the impact.
What I learned
Never give up and keep empathasing, listening, learning and iterating
What's next for Coinsence
We are now introducing on short terms a community currency in Tunisia focusing on Corona challenge and are mobilizing social innovators, companies, networks and associations. We need from platfrom perspective to improve the user journey, build better and simpler interfaces and add some functionalities to enable a smoothn exchange between the different community currency, so that different communites can share resources and create bigger synergies.
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