Binance Charity, Perlin.net Form Global Ledger Initiative at World Economic Forum's Summer Davos

Binance Charity and Perlin.net jointly initiated Global Ledger on Tuesday at the 2019 Annual Meeting of the New Champions, also known as Summer Davos, by the World Economic Forum in Dalian, China. Global Ledger (GL) is a coordinated international initiative launched by a coalition of Young Global Leaders (YGL) from WEF to support greater environmental transparency and accountability using blockchain technology. Based on distributed ledger technology (DLT) and leveraging the rapid growth of data from sensors, nano-satellites, drones, cameras, and IoT devices, the Global Ledger will provide open access for NGOs, Governments, businesses, and citizens to track the performance of sustainability commitments and build report cards on public commitments. 

Every year, during Summer Davos, leaders from around the world gather to discuss how to shape the future with their vision and values. New initiatives are formed during the meeting to put actions and engage the community around innovative ideas. Helen Hai, Head of Binance Charity, has been a frequent participant of WEF meetings since her nomination as a Young Global Leader (YGL) in 2015. 

During the first day of Summer Davos, Helen sat down with a group of YGLs and discussed blockchain application for social impact. After the conversation, she and Dorjee Sun, CEO of Perlin.net, initiated Global Ledger and committed to support the initiative for five years. Global Ledger will be based with the ICC Centre of Future Trade established by the International Chamber of Commerce (ICC) and Perlin with support by Enterprise Singapore. YGLs Zachary Bogue of DCVC, Ronaldo Lemos of ITS Rio, Subha Nagarajan of General Electric, Ambarish Mitra of Deep Tech Consulting, Arvind Satyam, Jonathan Rake, Victoria Alonsoperez of Chipsafer and Kerstin Forsberg of Planet Oceano will be contributing access to data, AI capacity, hardware, software capabilities and alignment with the “Campaign for Nature”.

Mariah Levin, Head of the Forum of YGLs, said, “The Forum of Young Global Leaders seeks to create unusual alliances to establish innovative approaches for positive long-term impact. Global Ledger is a project that draws from the Forum’s platform and builds on the emerging impact of artificial intelligence and big data to protect the environment. This effort reflects the incredible potential of this community to pioneer new solutions to seemingly impossible challenges”.

It is globally recognised that urgent action is needed to address the world’s most pressing environmental issues. And while the UN’s Sustainable Development Goals (SDGs) have gained significant traction worldwide, the loss of trust for self-monitoring by centralised institutions and the need for objective measurement remains a key challenge. By putting big data from multiple sensor networks on a decentralised, immutable, and public blockchain in real time, the architecture of the Global Ledger provides confidence that objective assessments can be made. 

Helen commented, “Binance Charity is focused on harnessing the power of decentralized technology to benefit people at a very human level. Given the billions of people who rely on the global commons for their livelihoods, we believe that this blockchain based report card for environmental and social impact will create meaningful and broad-based positive impact. By partnering with WEF YGLs and Perlin, we are showing our commitment to finding token-based economic models to address challenges exactly like those addressed by Global Ledger.”

In the past where car manufacturers have gamed laboratory-based emissions tests, now they would be obliged to put IoT sensors on every vehicle and publish the emissions levels publicly and in real time on Global Ledger where any NGO, individual or government agency could readily access and see the results. “It’s time to put up or shut up about green commitments,” stated Perlin CEO Dorjee Sun, “Even admirable declarations like the 2050 Net Zero greenhouse gas emissions targets by the UK Government need to be independently and scientifically measured, authenticated and published in real time on an immutable Global Ledger. Perlin is committed to supporting Global Ledger because we see the game changing explosion of technology that makes total transparency and measurement a reality for companies and countries.”

Helen Hai also hosted a session on the first day of Summer Davos on “Blockchain’s Potential for Good” and shared her thoughts on how innovative technologies can revolutionize traditional philanthropy.

During this session, Helen shared her experience of bringing China’s success story to Africa and helping African states to create jobs through industrialization, attract foreign investment, and achieve economic transformation. “In order to achieve the UN Sustainable Development Goals, developing countries should not be left behind in the Fourth Industrial Revolution and should participate and benefit from technology advancement,” Helen said. She herself sees the potential of blockchain and cryptocurrency as the new social contract among government, business, and society, assisting in the free transfer of value across the social-economic pyramid.

Binance Charity Foundation, the philanthropic arm of the global cryptocurrency exchange Binance, was established with a mission to improve the lives of the bottom billion through blockchain technology. In less than a year’s time, Binance Charity built the world’s first 100% transparent donation system and has served over 34,000 end beneficiaries in need through its charity initiatives, while helping over 800 donors in tracking their donations.

With the support from World Economic Forum, Global Ledger will be able to leverage more resources and help crypto and blockchain see more application in the traditional social impact sector, and make the technology ann increasingly important part of this new era of globalization.

News Release from World Economic Forum: https://www.weforum.org/agenda/2019/07/using-blockchain-to-make-sure-green-pledges-arent-greenwash-a-new-initiative-by-the-world-economic-forums-young-leaders/

About Binance Charity Foundation

Binance Charity Foundation is a nonprofit organization, dedicated to achieving global sustainable development by unlocking the power of blockchain. BCF develops and tests viable solutions that address the root cause of social problems to guide people out of the poverty trap.The foundation is initiated by Binance, the world’s largest cryptocurrency exchange by trading volume, headed by Helen Hai, UNIDO Goodwill Ambassador, in collaboration with Marie-Louise Coleiro Preca, former President of Malta, as the Chair of the Advisory Board. 

For more information: https://www.binance.charity

About Perlin Network

Perlin is a blockchain and distributed ledger technology development company powering the future of trade with enterprise solutions built on top of Wavelet, the world’s fastest and most scalable decentralized public ledger. Perlin’s mission is to empower enterprises with best-in-class technology and the essential Building Blocks they need to meet the challenges of future digital economies and trade. Perlin is partnered with the International Chamber of Commerce, supported by the Singapore Government, and headed by Dorjee Sun, WEF Young Global Leader and award-winning veteran entrepreneur in both environment and blockchain. For more information: https://www.perlin.net/