Impact Investing Innovation - From Impact 1.0 to 3.0
Wulf A. Kaal · 2024
Impact innovation has evolved from Impact 1.0 to 3.0. Each phase of impact innovation iterates on prior improvements and adds new components. Whereas Impact 1.0 has emerged with Carbon Credit Trading and Impact 2.0 has contributed participatory grantmaking, impact measurement, and price competitions. Impact 3.0 builds on those prior accomplishments with emerging Web3 community toolsets and impact certificate trading. These combined features enable Impact 3.0 to scale philanthropy to unprecedented levels. Key Words : Social Impact, ESG, Impact Certificates, Carbon Credits, Decentralized Autonomous Organization, Finance, Token Models, Cryptocurrencies, Feedback Effects, Emerging Technology, Tokens, Blockchain, Distributed Ledger Technology JEL Categories : K20, K23, K32, L43, L5, O31, O32 1 Professor of Law - University of St. Thomas School of Law. The author is grateful for feedback and discussions with Eric Kessler, Sampriti Ganguli, Amir Ansari, and Phillip Alvarez. The author is also grateful for excellent research assistance by Nicole Catlin and Beau Raymond. 1 Electronic copy available at: https://ssrn.com/abstract=4685567
Cite: Wulf A. Kaal, Impact Investing Innovation - From Impact 1.0 to 3.0 (2024). SSRN: https://ssrn.com/abstract=4685567. https://doi.org/10.2139/ssrn.4685567
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