Aussie blockchain company Civic Ledger recognised by World Economic Forum
Brisbane based company Civic Ledger has been recognised as a Technology Pionieer by the World Economic Forum, an international organisation bringing together the worlds "most relevant leaders from all sectors of society".
With the Forum narrowing its selection to only 100 companies across 26 economies on 6 continents, this prestigious rank was awarded to the company for its effective use of blockchain for social good.
Civic Ledger seeks to provide blockchain solutions for government and industry ecosystems to deliver secure and efficient access to shared public resources, a sorely needed improvement given the efficiency gains blockchain and distributed ledgers can offer with governments acting as a source of truth in registries.
The abolition of the "data silos" which currently prevent government social services from taking accurate stock of existing public resources is something the company is working closely on. Civic Ledger sees:
an opportunity for governments to create trusted shared information systems for public resources like entitlements, registers, and natural assets
In a recent media release, the World Economic Forum has recognised the company's work in digitalisation of water rights and credits, helping to smooth a notoriously difficult trading marketplace, seeking to build the water markets of tomorrow: allocation, accounting and market mechanisms tied to time-based activities of local water resources.
According to the World Economic Forum:-
Since its beginnings in late 2016, Civic Ledger understood the value proposition of blockchain to build new digital markets for taking accurate stock of shared public resources, especially to help determine the true value of natural assets like water which often suffers from the tragedy of the commons due to unequal access or unsustainable consumption.
CEO and Co-Founder, Katrina Donaghy of Civic Ledger said:-
It’s a great privilege to be accepted as pioneer by the World Economic Forum...[i]t is an acknowledgement that our approach to applying blockchain as an enabling technology for creating fair and sustainable ways of producing and distributing value laying the foundations for new markets to emerge.
Through its conferences, the World Economic Forum prides itself on 'bringing together the most relevant leaders from all sectors of global society, and identifying the best ways to address the world’s most significant challenges.", saying it is "the catalyst for global initiatives, historic shifts, industry breakthroughs, economic ideas and tens of thousands of projects and collaborations".
As Mrs Donaghy further said:
Our whole reason for existing is to look at old problems with new eyes and reimagine solutions that return the best to society, the environment, and the economy and we look forward to openly sharing our ideas with the Forum.
With water an ever precious resource in Australia and around the world, and government systems crying out for greater efficiency and automation, we look forward to Civic Ledger helping to light the path for public servants to better serve their communities.