metadata: {"signature": "0xdf86475af46cacfb51d3170d1c8920995289f8c2a2c903e701f662a600580de756a335610c39d8de6c476fd740e7da0ceeb445edf76d32eacdb61eab72d9e3f11c", "application": {"round": "0x0023055b2f86eae827c2bee06bbf483738fb600c", "answers": [{"type": "email", "hidden": true, "question": "Email Address", "questionId": 0, "encryptedAnswer": {"ciphertext": "12ThUaHr82UBJKaprTnHhQoTJmb68FuNunDwOQiqFOUkGZ3lHoJ/5tIFWSn1eCCC", "encryptedSymmetricKey": "9982f5d04a5ff44b09829d1b3e838158d5fb0a6c18b2a929a310eca815f2351a752bfc63f962ab75b64f44958c754317a312c531d2d464bc36c001e54a11b75094d52c2692c4a7c49b514756e9ab12ef2ed8c0a28f9e95cb2b9c7e9d0e46f48753bb14c22366c80e4ce5b33c69099ddd1f2e7eec1e38b069d2a73108b72a29d800000000000000200505f97686643ee1ec3ba4de419e875255b7527cc058dc2529c3aa6b0eab6440078acdd134ab086c8b0ded9bf054bf80"}}, {"type": "short-answer", "hidden": true, "question": "Project Contact Telegram", "questionId": 1, "encryptedAnswer": {"ciphertext": "9v9RoSYcMskTo1DddtTmE74wS3P9WdKfth1NWCicWso=", "encryptedSymmetricKey": "26a13af7275c7dc765dd147c017a94d0b761a86b94716dd932d84437180543dab17e01b06fd81bbd474db5e8b6dde00873a9303ba43f229c74008bdec550f9d9853cef264c665fe9d721f2cf9f3d467749021eb8ed6f2960249a90c4aac6a3a0376f72754b4709b8e66f310c927dd39f17037abf0a7adc128da54876bdd773fe0000000000000020846c444d43b18119b9a00a90cde5f23085548c95517697061c0f0af95ffd994a6c6de38c35c85d673ff83569d47b6694"}}, {"type": "link", "answer": "https://t.me/changecodeio", "hidden": false, "question": "Link to your Public Group Chat (Discord or Telegram )", "questionId": 2}, {"type": "number", "answer": "7", "hidden": false, "question": "How old (in Months) is the project? (Reminder: projects must have proof of being over 3 months old)", "questionId": 3}, {"type": "number", "answer": "92250", "hidden": false, "question": "Total prior funding for the project in USD", "questionId": 4}, {"type": "short-answer", "answer": "Grant from renewables foundation $80K; GG20 (3 rounds) $12K; GIVEarth QF Round $248", "hidden": false, "question": "Please expand on how much funding you\u2019ve received from each funding source and when? (VC, grants by foundation, token sales, etc)", "questionId": 5}, {"type": "number", "answer": "3", "hidden": false, "question": "Total team size", "questionId": 6}, {"type": "short-answer", "answer": "Erin Murphy: Co-Founder; 3x impact founder; web3 product & former UN contractor; https://x.com/MurphyErinM | Chris Georgen: Co-Founder; 3x web3 founder, est. 2014; token engineering & web3 design; https://x.com/c_georgen | Civil Monkey: Community Manager; https://x.com/civilmonkey", "hidden": false, "question": "List the team Name/Role/Experience/Socials ", "questionId": 7}, {"type": "paragraph", "answer": "Carbon Registry and Tokenization: With an ever-increasing demand for carbon offsets, climate experts have expressed concerns regarding the legitimacy and veracity of the growing numbers of carbon credits making their way into this marketplace. Change Code has the privilege of working with two climate-science-first registries who have each developed several rigorous CO2 nature-based sequestration methodologies. While these innovative projects are non-profits comprised of climate scientists, they do not themselves have the expertise necessary to build or maintain the registry infrastructure necessary to support their own goals around scale and verifiability. This is why they are working with Change Code. By using our primitives to issue web3 native carbon credits, their assets can command a higher market value, contributing to more competition and price discovery in abatement and avoidance assets. Beyond this, we are also co-developing, together with a net zero real estate platform, an open-source primitive for a carbon asset-backed security that will better incentivize the use of timber and other climate-smart construction materials for construction companies and real estate developers. \n\nOther climate impact areas: As of July 2024, Change Code is currently working with 4 projects focused on different areas of environmental impact: abovementioned solar microgrid-facilitated small business and agro development project in Tanzania, in partnership with the Solar Foundation (100% of GG21 funds will go to this specific project summarized above in the \u201cProject Description section\u201d); a small-scale solar development project for electrification of a remote region of Nigeria (Tech and Sun); a water filtration and provision social enterprise in 7 countries across east Africa (Jibu, link in question 8); and a coral reef restoration initiative in Belize (Healthy Reefs, Healthy People). For each of these organizations, Change Code's platform helps them to determine the impact metrics and reporting standards necessary to architect the best possible token representation of their impact. Utilizing our user-friendly Change Credit (impact token) minter, they then immutably record and verify their unique positive impact. These minted tokens represent the tangible impact outputs and outcomes that their organizations have produced, attested to on-chain in a secure and reliable manner.", "hidden": false, "question": "Please explain how your project is a part of the solution to the Climate crisis.", "questionId": 8}, {"type": "link", "answer": "https://gap.karmahq.xyz/project/change-code", "hidden": false, "question": "Please provide a link to your GG20 Karma GAP link. (Reminder that you need to provide two milestones with updates.)", "questionId": 9}, {"type": "paragraph", "answer": "March 2024: First web3 native carbon credits minted representing 27K tons of CO2 minted across regenerative agriculture projects in the US and UK.\n\nApril 2024: Additional 11K tons of CO2 minted for projects across the Red Rive region of Texas and Oklahoma.\n\nJune/July: To date, we\u2019ve support 3 carbon projects (https://bcarbon.changecode.io/) and secured 2 solar projects, 1 water and sanitation project (https://gg.changecode.io/good/jibu), and 1 marine conservation project. The minting of \u2018Change Credits\u2019 for the above-listed projects (excluding the Solar Foundation partnership, as that budget has not yet officially kicked off) represents a total of ~$620K of web3-native climate assets, generating ancillary revenue for these early-stage and/or disenfranchised climate action organizations and capital impact assets for Change Credit holders.", "hidden": false, "question": "Please provide 2-3 top impacts your project had in the past 12 months. You can use the CCN Metrics Garden (https://climatecoordination.org/climate-solutions-metrics-garden-1) or use your project-specific metrics. Examples: Number of Trees planted, Total forest area protected, Amount of Carbon sequestered, Carbon sequestration from regenerated soil, Etc.", "questionId": 10}, {"type": "dropdown", "answer": "Renewable Energy", "hidden": false, "question": "Which of these categories best represents your project? Choose from: ", "questionId": 11}, {"type": "dropdown", "answer": "North America", "hidden": false, "question": "Location/Region where the project is located: Choose from: ", "questionId": 12}, {"type": "dropdown", "answer": "Africa", "hidden": false, "question": "Primary Location/Region where the project is making an impact: Choose from: ", "questionId": 13}, {"type": "dropdown", "answer": "Yes", "hidden": false, "question": "Have you read and confirmed your grant abides by the Program General Eligibility Policy? ", "questionId": 14}, {"type": "dropdown", "answer": "Yes", "hidden": false, "question": "Have you read and confirmed your grant abides by the GG21 Climate Solution Round Eligibility Criteria?", "questionId": 15}, {"type": "dropdown", "answer": "Yes", "hidden": true, "question": "Would you like to opt-in to future messages from the Climate Coordination Network (CCN) for updates, information, and/or interviews? ", "questionId": 16}, {"type": "dropdown", "answer": "Yes", "hidden": true, "question": "Would you like to opt-in to us sharing your information with select third-parties for investment opportunities? ", "questionId": 17}, {"type": "dropdown", "answer": "Yes", "hidden": true, "question": "Would you like to be included in an additional 150k sub-round funded by Shell? All grantees must agree to a KYC process to be eligible to receive these funds. ", "questionId": 18}], "project": {"id": "0xf3abdcd6b07d2a51952b35ba4a9be82ede7031c45d433e5f21bc164c0f3e2d10", "title": "Change Code: Piloting a SolarBond for Sustainable Economic Growth in Tanzania", "logoImg": "bafkreieaaci7t4qssvhk3wxubh7axdytoqbpyaxmpmnhsdc4xf4upiugka", "metaPtr": {"pointer": "bafkreifgppycvnd63elqjbm2kpat6mfnsttrpqc7earyxyd44fv4ercswe", "protocol": "undefined"}, "website": "https://changecode.io", "bannerImg": "bafybeiai4s6mawgbu4qvx5ny3kkbf7hlvnuztevhhgcvavoegk4fmpp5za", "createdAt": 1722638569456, "userGithub": "c-georgen", "credentials": {"twitter": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..cASEDE0_9ULJ0s-AnxPOkCcmF6rS60R2GQK0X6yghvxUhmjpRYGOhGEvTHzUT5-rJj-uhmZSaXPPS2mPV4IlDQ", "type": "Ed25519Signature2018", "created": "2024-08-02T22:40:38.751Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2024-08-02T22:40:38.751Z", "expirationDate": "2024-10-31T22:40:38.751Z", "credentialSubject": {"id": "did:pkh:eip155:1:0xa70b69f752C0dBd6ac07Fcf243a9960469735c4C", "hash": "v0.0.0:Frxhks9C27ATSbC9UIjgilQBQs6jztWMQ6Yv5mXCDPE=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextTwitter#changecodeio"}}}, "description": "## TLDR\n* Change Code believes that to achieve the world's sustainability and other impact goals, we must find a way to make purpose profitable. We are pioneering new financial primitives and tokenomics that will see impact emerge as the next asset class to be powered by web3.\n* Our goal for this round is to extend our Change Credit framework to pilot a web3-native Social Impact Bond as a novel means to sustainably fund locally-based development.\n*  Building on a newly completed solar microgrid installation in Moshi, Kilimanjaro, Tanzania, we are partnering with [The Solar Foundation](https://www.solarfoundation.xyz/) to coordinate the parties required to capitalize several ancillary climate-friendly businesses and community solutions.\n* The project will feature two parts: 1) Needs Assessment Tool, 2) Social Impact Bond design and issuance. Change Code\u2019s impact tokenization model is the means for the SIB issuance, ensuring documentation best practices for optimal replicability in other Solar Foundation communities. \n\n## Change Code\nChange Code has developed a protocol for impact tokenization and monetization called Change Credits. Change Credits are a new ReFi/DeFi primitive (already in production as web3 native carbon credits) that utilize hypercerts and the Ethereum Attestation Service (EAS) to maximize interoperability with the broader ecosystem.\n\nAs a primitive, Change Credits are highly adaptable to many funding and impact verification flows, ranging from retroactive funding and community donations to impact bonds and structured financing for social enterprises.\n\n## Pilot Background\nExtraordinary outcomes are possible when communities are empowered with the right resources\u2014and have ownership. In early 2024, the Solar Foundation partnered with [OMAWA](https://omawatanzania.org/), an education and economic development NGO in Moshi town, Kilimanjaro, Tanzania. Installing a solar microgrid for the OMAWA school resulted in 24 x 7 access to clean power for the classrooms, staff houses and offices as well as the ability for the community to charge their phones with renewable energy. The project also resulted in exciting \u2018knock-on effects\u2019: two local businesses are providing OMAWA with ancillary revenue through their utilization of excess power, and the community even improved the road that serves the local school!\n\nNow that OMAWA and their community has experienced the utility and benefits of solar power , they have several new ideas for utilizing solar for small businesses that can further address some of the community\u2019s most pressing challenges, such as unemployment, food insecurity, and a lack of dependable water sources for drinking and irrigation: \n\n* A local barbershop to provide skills training and employment opportunities;\n* Phone charging infrastructure;\n* Solar-powered refrigerator(s) for selling cold drinks, ice, and food preservation;\n* Solar-powered irrigation for smallholder farmers.\n\nThe Solar Foundation is a small organization that seeks to find an innovative, sustainable model to fund these community led, solar-powered businesses, recoup the funds allocated and utilize the model to empower more communities throughout Sub-Saharan Africa.\n\n## Development of OMAWA Pilot\nTo determine the viability, assemble and deploy the funding, and track the results, Change Code will work with the Solar Foundation to carry out the OMAWA Pilot. \n\n**Part 1: Needs Assessment**\nThe \u2018social\u2019 in social business doesn\u2019t mean we skip determining if the business is viable and effective in stimulating economic growth. Let\u2019s take the example of the barbershop. How many young people express interest in this type of vocational training? Once completing the skills training, what does their road to full-time employment look like? Are there enough people in the community who express interest in this type of service so that the barbershop is economically viable? \n\nLeveraging our background in economic development, we\u2019re excited to help the Solar Foundation design a simple, standardized Needs Assessment that can be used both in this pilot and to improve the effectiveness of their other projects. To inform strategic planning and guide targeted initiatives, we will assist in the development of a streamlined, simple Needs Assessment mechanism that helps guide the development of solar-powered solutions that effectively meet the needs of the community while also assisting The Solar Foundation in attracting more funding for their impactful work.\n\n**Part 2: Social Impact Bond**\nSocial and development impact bonds (S/DIBs) are a tool in impact investing designed to transfer risk from the public sector to the private sector and have been used around the world to fund public health, infrastructure, climate, and myriad other innovations. Put simply, social impact bonds allow those altruistically funding a public good to be free from entrepreneurial risk.\n\nTo visualize this process, below is how our impact primitive, Change Credits, can be used in a social impact bond setup.\n\n![impact bond diagram](https://raw.githubusercontent.com/change-code-io/gitcoin-resources/main/impact-bond.png)\n\nOur Impact Bond design process will include the following key steps:\n\n* **Define measurable outcomes and metrics:** work with the community to establish clear, quantifiable goals and how they will be measured;\n* **Determine the cost structure and potential savings:** calculate program costs and the project\u2019s calculated public sector savings;\n* **Secure donor commitment and investors:** obtain agreement from a local government or other donor group to repay the investor once outcomes are met; for the pilot, the Solar Foundation will be the investor, so one financing party has already been secured.\n* **Establish a verification framework:** design a system to assess and report whether the program achieves its targeted outcomes.\n\nBeyond creating a repeatable process for OMAWA and the Solar Foundation to fund projects in the future, Part 2 will also see necessary enhancements made to Change Code\u2019s web3 infrastructure: \n\n* **Donor lock-box:** implement holding accounts to store guaranteed funds that will be released upon project deliverables;\n* **Implement tokenization:** tokenize project metrics and deliverables using both hypercert and Change Credit standards;\n* **On/off ramps:** integrate with local on/off-ramps to support a potential preference to receive funds in fiat instead of crypto;\n* Reporting infrastructure:** determine and implement the most user-friendly wrapper (likely Deresy.xyz) for claim verification via the Ethereum Attestation Service. \n\n## Project Goals\n\n1. Demonstrate the viability of a sustainable funding model that aligns purpose with profit by generating the impact return (determined after Needs Assessment) and a financial return (goal of 5%).\n2. Build a framework for tokenized impact investment that emphasizes user-friendly verification that can be used in further Solar Foundation initiatives and for other Climate Solutions Projects and beyond.\n3. Validate the adaptability of the Change Credit design and infrastructure through a successful real-world Impact Bond implementation.\n4. Catalyze the growth of at least one solar-powered social business in OMAWA\u2019s local community in the next 12 months.", "lastUpdated": 0, "projectGithub": "change-code-io", "projectTwitter": "changecodeio"}, "recipient": "0x831F4ED6c49557318f06Bfb7Bce8488090cd9eCC"}}