In a recent report, the Blockchain Trust Accelerator(BTA) has announced about its curated online registry, Impact Ledger, in partnership with Social Alpha Foundation(SAF) to raise awareness of socially beneficial blockchain projects. The news surfaced after Tomicah Tillemann, Founder of BTA and Chairman of the Global Blockchain Business Council, announced the launch of the project at the 2018 Concordia Annual Summit.

The main motive behind this initiative is to raise awareness among the mass to adopt the various usage of blockchain for improving the social sector. The Impact Ledger aims to encourage startups exploring Blockchain Technology by funding them, according to the report. Moreover, it also aims to develop various blockchain projects with interested NGOs or profit-sectors.

Why Impact Ledger?

Tillemann stated that the former systems lack the efficient ways of keeping the information up-to-date and targeting them to the right audience which results in getting no desired results at the end. Hence, Impact Ledger has been designed keeping to curb these issues. The Ledger will act as a base for various experts to assemble and define the parameters for inclusion in the registry, applying them to researched projects and updating the Impact Ledger with every day updated news on finalized products.

Adding further, Tillemann said that Blockchain Technology has come into the existence as a solution for the lack of trust and efficiency issues of different working sectors. Since its inception, Blockchain technology has garnered a lot of trust from the global industries and has witnessed its investments of worth more than $1 billion over many projects of potential fintech organisations.

Taking this opportunity, Nydia Zhang, Co-founder and Chairman of SAF also said that their team is very cheerful for the collaboration between these two companies. Furthermore, he said that blockchain can lay a pathway for an improved economy as it provides better security and transparency as compared to the former technologies of similar niche.