Blockchain for Humanity to use RSK to enhance transparency in social impact investing

RIF Labs, the purpose-driven organization led by RSK Lab’s founding team and other top executives, has announced that Blockchain for Humanity (b4H), a not-for-profit foundation that supports a pipeline of social and environmental impact projects, is now utilizing the RSK network to bolster their tracking and accountability efforts for blockchain-enabled solutions that focus on addressing inequality gaps and improve the lives of many around the globe.

The successful deployment of the b4H dApp on RSK — which is based on Giveth open-source code — makes cryptocurrency donations easy for users, allowing a greater community of Bitcoin supporters to donate to their favorite impact projects on RSK for the first time.

[perfectpullquote align=”full” bordertop=”false” cite=”RIF Labs CEO Diego Gutierrez Zaldivar” link=”” color=”” class=”” size=””]“This is a really innovative partnership, as all the interactions in the b4H dApp are now made directly with the smart contracts deployed on RSK. As such, Blockchain for Humanity enables individuals to donate and be a part of large communities for philanthropic causes, solely with digital currency. We’re able to fulfill our mission of financial inclusion worldwide, and we are looking forward to seeing these social impact projects come to life.”[/perfectpullquote]

One of the most critical roles Blockchain for Humanity performs is enabling communities and entrepreneurs to implement blockchain powered solutions worldwide. b4H offers its ecosystem of sponsors, mentors, partners, volunteers, investors, and charitable donors to support selected projects and help them reach their next step of development and execution.

Onboarding these projects on the b4H dApp allows the foundation to direct donated funds to campaigns, while also tracking progress and resource utilization. Additionally, b4H works closely with project teams in developing sustainable business models, validated use cases, and plans for reaching scalability while evaluating their impact in relation to the UN’s Sustainable Development Goals.

For this implementation, the b4H dApp offers a built-in exchange rate system that allows supporters to denominate their donations and milestones in fiat even though the system only uses cryptocurrencies. The b4H dApp code — originally developed on the Ethereum network — has now added native token support with its implementation on the RSK network which allows individuals to use RBTC for donations, in addition to ERC20 compatible tokens like the RIF Token.

[perfectpullquote align=”full” bordertop=”false” cite=”Co-Founder of Blockchain for Humanity and Giveth, Grace Torrellas” link=”” color=”” class=”” size=””]“We have a shared vision with RIF Labs, striving towards a socially inclusive, positive-sum game. We believe that responsibly designed blockchain solutions can unlock transformative change in society and improve the lives of billions of people worldwide. We are excited to partner with RIF labs and deploy the b4H dApp on RSK to fulfill our foundation’s purpose.”[/perfectpullquote]

The b4H partnership is the latest sign of continued growth on the RSK network — the first project to bring Turing-complete smart contract functionality to the Bitcoin blockchain. Operating as a sidechain, RSK is secured by the computing power of Bitcoin’s miner network while providing smart contract capabilities — utilizing RBTC, pegged 1:1 to bitcoin, as the “gas” for its network.

The recently launched RIF OS (Root Infrastructure Framework Open Standard), which operates on top of RSK, also enables broad interoperability and faster time to deployment for dApps — bridging the gap between blockchain technologies and their mass-market adoption. This latest partnership materialized as a result of both RIF Labs and Blockchain for Humanity’s mission to create the ‘Internet of Value’ and bring about greater financial equality and inclusion around the globe.

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