FAQ

 

Who are we?

CODE GREEN is a creative collective on a mission to spark progress on the Sustainable Development Goals.  We harness the power of innovative tech and the creative arts to inspire positive change across the globe.

When?

CODE GREEN was founded in the lead-up to COP26 Global Summit because there has never been such a poignant time to engage with the planet.

What do we do?

We implement a 5 pillar program:

    1. CREATE: provocative content that inspires positive actions for humanity including NFT Collections, "gamified" experiences and animated short-films films

    2. EXPERIENCE: artistic events, auctions and experiences with the likes of the United Nations, World Economic Forum, Art Basel Miami and Chrsties

    3. EDUCATE: educational experiences, including  through our podcast ‘The Green Code

    4. ADVISE: supporting creatives to ‘give back’ to the planet through our consortium of nonprofit partners

    5. ACT: developing web3 tools that promote sustainability and ‘for-good’ actions

What is a blockchain?

A blockchain is essentially a digital ledger, either public or private, where every transaction records and verifies itself. 

Blockchain technology offers several advantages. First, it’s decentralized and the processing power is distributed evenly amongst the network. Second, once confirmed, each transaction record becomes immutable. 

Lastly, blockchain allows mutually distrusting parties to engage in a transaction without the need for a third party to validate it. 

Why do we use blockchain technology?

Because if implemented right, blockchain technology is an innovation that can radically change the way nonprofits operate around the world. 

Instant access to funds: it can be challenging to get funds to the right places with maximum speed. As the blockchain is decentralized, funds can travel from one part of the world to another in seconds and with much lower fees. 

Horizontal distribution: funds distributed to marginalized communities by big non-profit organizations are often misused or spent too quickly to provide a lasting impact. Moreover, some economies lack the cash to provide. Decentralized funding has huge potential for nonprofits in this regard. The technology allows the local communities to contact potential donors and activists and create their own independent and citizen-powered ecosystem. 

Trust, accountability, and transparency: unlike commercial businesses - nonprofits additionally experience problems around trust, accountability, and clarity that can prove detrimental to achieving their missions. Rather than publishing exhaustive reports that are often hard to validate, nonprofits can make their wallet addresses available to the public in a highly transparent way. The ability to track funds in real-time is important in establishing donors’ trust. 

Cut costs and intermediaries, boost efficiency: The highest admin cost of a charity is raising the money. Blockchain platforms can provide charities with a broad marketplace. The technology presents a low-cost operative model, and its publicly accessible records can capture the proof of the need to ensure that the cause is justified and worthwhile. In addition, due to the architecture of blockchain technology, most intermediaries like banks and payment services are taken out of the equation. 

New donor experience: Adopting blockchain-based solutions also attracts a new donor target market with strong incentives to donate in crypto. Some nonprofits might be discouraged by the idea of accepting crypto due to its volatility. However, services like The Giving Block make handling digital currencies risk-free by instantly converting them to cash upon receipt.

What is an NFT?

NFTs, or nonfungible tokens, are unique assets that can’t be replaced with something else and are verified and stored using blockchain technology. They can include everything from music to a website domain, but the current craze is really around digital artwork.

Why do we use NFTs?

Because we LOVE NFTs!

They are a way to empower artists and help to democratize the creative economy.

NFTs and smart contracts allow tens of thousands of artists to be connected directly with their collectors and to gain financial independence from their sales.

What is a digital wallet?

Crypto wallets keep your private keys – the passwords that give you access to your cryptocurrencies – safe and accessible, allowing you to send and receive cryptocurrencies like Solana and Ethereum. They come in many forms, from hardware wallets like Ledger (which looks like a USB stick) to mobile apps.

Unlike a normal wallet, which can hold actual cash, crypto wallets technically don’t store your crypto. Your holdings live on the blockchain, but can only be accessed using a private key. Your keys prove your ownership of your digital money and allow you to make transactions.