EthicHub, an example of combining blockchain technology and social support

ethic hub blockchain technology and social projects

Financial inclusion is still a problem for millions of people. The Blockchain technology emerged as a tool to solve this problem. But it also serves as support for the EthicHub project, an initiative that helps the agricultural sector allowing access to financing for development and sustainability.

Through this technology, EthicHub connects global investors with agricultural communities in developing countrieswho cannot access it through traditional means.

What is EthicHub

EthicHub is a startup that has been operating for a few years now. The fundamental characteristic of the company is generate a triple impact: environmental, social and economic. And, to do this, they have focused on helping small farmers in developing countries, unable to obtain aid or bank loans, to connect them with retail investors with low profitability to offer them a project that helps everyone.

And is that EthicHub is based on crowdfunding, using crowdlending to do so, which allows:

  • On the one hand, that farmers who cannot access financing do so without suffering high or negative interest rates. These producers cannot improve their source of work due to the high costs they have and prevent them from improving their business.
  • For another, get investors from all over the world who, with a small amount of money, can already see their help rewarded with a much higher profitability than what they receive with other options. In addition to supporting others.

what is blockchain

To carry out the task, EthicHub makes use of blockchain technology, also known as chain of blocks. It is characterized by the generation of a database that is shared across participants so that everyone can know, at all times, how their transaction is going and what is being done with it.

In this way, you have a complete record of transactions, investments and movements that is shared publicly and that are verified so that there is transparency and everyone knows what is done with the money obtained through crowdlending.

Advantages of blockchain

There is no doubt that EthicHub has chosen blockchain technology well to carry out its project. And this technology offers a series of advantages to take into account, such as the following:

Transparency and audit

One of the main benefits of blockchain is the transparent and public record of the transactions that are carried out. AND all participants have access to that history complete, as well as verified.

Security and fraud protection

Due to the above, it is practically impossible to manipulate or alter the data. Own Transactions are cryptographically protected, and, furthermore, they require the consensus of the majority of the participants who are part of it.

Increased confidence

Thanks to this transparency and the security that the blockchain provides, distrust, or not knowing what is done with the money and transactions, is eliminated, offering that all participants can have access to complete and truthful information.

Speed ​​in transactions

All Transactions on blockchain are carried out in a matter of minutes, quite the opposite of using traditional financial systems, which can take several hours, or even days, in addition to sometimes requiring extra documentation.

Lower costs and greater efficiency

Blockchain technology allows eliminate the middlemen, in addition to simplifying all processes, so that costs will be lower. It is one of the factors that can influence the accessibility of financial services to underserved populations.

How to support EthicHub

blockchain and coffee producers

Now that you know what EthicHub is and what technology they use, with its advantages, you may be more willing to invest in the platform to support farmers to improve their quality of life.

To do this, there are two ways to do it:

Invest

This option allows us to review the projects that EthicHub has active to choose the one we like the most and invest an amount of money. It really doesn't have to be high, it will depend on what you want to contribute to this cause. Besides, The fact that you participate in one does not mean that you cannot invest in the others.

Once you do it, they will make it very clear to you the steps you have to take and how you will recover that investment with an extra. But you can even sense it in projects that are already underway or in those completed, since you can see the deadlines in which they have been designed to carry out each task.

Collateral contributions through Ethix

Until now we have not talked to you about Ethix and yet it is closely related to EthicHub and cryptocurrencies. That's how it is, Ethix is ​​the name of the project token.

As an investor, you could purchase Ethix tokens to become a direct guarantor of those farmers.

To do this, you need to have Internet and work with Valora, the native crypto wallet of the CELO blockchain. Once you download it to your mobile, you can operate with it to get the tokens and manage everything wherever you are.

Buy coffee

women supported by ethichub projects

Well yes. A final way to support the EthicHub project is by purchasing coffee. And on the EthicHub website itself they offer buy coffee from those small farmers who are supported through investments. They have an online store where they sell "specialty" coffee.

You can't find a huge variety, but these packages are related to the projects they have carried out and offer different types of coffee.

Half of the net profit goes directly to farmers to have an extra since they can sell their products in other markets beyond those they have in their countries.

EthicHub is one of the examples of how technology can help connect people to support them and improve the quality of life of others. Did you know the project and the use that can be given to blockchain technology and crowdending?


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