New blockchain targeting sustainable development economy

Ian Jones describes corporate social responsibility funding as a ‘grudging obligation’ that, as it currently stands, achieves very little apart from being an exercise in good PR.

Jones is the executive director of NaturesCoin, a startup building a blockchain that he says will create a new investment class to fund environmental projects – effectively turning corporate social responsibility from a cost to a tradeable asset on a company balance sheet.

“Corporates are stuck between a rock and a hard place where they are being pushed by stakeholders – particularly ethical funds and investors and the rising consumer market into doing social good with their capital,” Jones told CIO Australia.

“But on the other hand, they are being squeezed by the capital markets to get a better return on investment. So what do you do? The answer is generally you do the least you can get away with because it’s a cost on your profit and loss sheets.”

Brisbane-based Jones and Hamish Macdonald – who is also a director of Bundaberg Hemp Foods in Queensland both have extensive experience ‘bootstrapping’ early stage tech companies. They established NaturesCoin last November and expect to have the blockchain build complete and ready for launch by the end of this year.

(Excerpt) Read more Here | 2018-07-16 04:30:03
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