Building a transparent economy for people in need

There are as many as 500,000 people experiencing homelessness in America. Governments allocate funds for shelters and food, but poverty is still a big challenge in many parts of the world. Some consider that these funds lack the right amount of transparency, leading to unfair and insufficient allocated resources for those in need. The long chain of intermediaries and lack of transparency are the main challenges when it comes to distributing funds in general, but especially for homeless shelters and other social services.

Unfortunately, these are questions that most government officials and citizens don’t have an answer to. There is no wonder why substance abuse, mental illness, and violence are so common among homeless people. The available data tells us that 37% are children, 8% are veterans and the remaining 48% are disabled.

Would you reconsider giving out some spare change to a homeless person if you were assured that your money contributes to their well-being? Personally, I would. This is not targeted solely for us, as the working class, but also for governments offering financial aid for people in need. If authorities cannot know for sure where allocated funds end up, how can we know any better?

In this post, we will go over innovative ways and available solutions aimed to distribute assets for people in need, instead of traditional ways of doing so.

Digital Tokens as an alternative in the Social Sector

Tokens have been around for quite some time. They were used in different forms, long before the emergence of blockchain technology. Usually, they can represent any kind of economic value. Some examples of tokens are casino chips, vouchers, gift cards, bonus points within a loyalty program, club access tokens such as a stamp on your hand, club memberships, and so on. They include in-built counterfeiting protocols to prevent people from cheating the system. In some countries, recyclable bottles might be looked at as tokens. To purchase a product that is stored in a recyclable bottle, one would have to pay a certain amount on top of the initial price. Losing the bottle means that you lose your deposit.

Nowadays, tokens have evolved considerably. We mostly find them in digital forms rather than paper vouchers or plastic coins. The most important achievement is related to the underlying technology used by end-users to share and exchange such assets, that of blockchain. Many find it as a breakthrough alternative to transparent and decentralized transactions. To keep on track, let’s get back to how this innovative solution might help people living in poverty and assure a secure and transparent purchase behavior.

  • Philanthropy and international aid

An increasing number of charities and non-profit foundations shifted away from traditional ways of receiving donations to accepting donations directly from donors through bitcoin and other cryptocurrencies. On top of that, a number of foundations created their own ‘charity tokens’ to raise money for various social impact projects. For instance, the Clean Water Coin enables donors to purchase and donate by using cryptocurrencies, without any additional fees and intermediaries involved in the process.

  • Identity and land rights

In a recent study, the United Nations concluded that one in every five people globally lacks a legal identity. For refugees that are always on the run, the rates might be higher. The Humanized Internet is a project that enables vulnerable people to store their identifiers, such as birth certificates or university degrees on a blockchain, taking the form of distributed digital lockboxes. This way, people that have challenges with maintaining physical identification copies can take advantage of their privileges.

Applied cases – Ground-breaking solutions for people in need

Greater Change

A relatively new social innovation project, called Greater Change, provides homeless people with QR code badges. Pedestrians who wish to help can simply donate by scanning that code with their phone camera and make an online payment in a matter of seconds. That donation is transferred into a personal account managed by a caseworker, whose duty is to ensure that donated money is spent on real needs, such as rental savings, food, or a new identification document.

“The problem we’re trying to solve here is that we live in an increasingly cashless society and as well as this when people give they worry about what this money might be spent on,”


Alex McCallion, founder of Greater Change, told the BBC

GiveTrack

GiveTrack positions itself as a revolutionary donation platform. It enables donors to track their donations in real-time, providing transparency and accountability to donors by sharing financial information and live project results. Compared to traditional non-profit systems, this one offers low to no transaction fees, traceability of funds in real-time and cryptographic security. Fraudulent actions are nearly impossible to intervene along the way.

GiveSafe

As we live in a cashless society, helping others in need can be a real challenge. However, it is great to see that people become aware and act accordingly. GiveSafe proves again that it’s possible to help others in a cashless world. This solution enables people to invest directly and with clarity into someone struggling through homelessness. The app sends you a notification when you are passing by a person living in poverty. You have access to their personal stories and critical needs, providing you with a better understanding of their current situation. The payment is processed through the app and donations can only be used at partnered stores to buy what they need to survive or leave the streets.

Using Oveit to help those in need

Not long ago, we started to think out of the box and identify different applications for our cashless solution. We concluded that our available features could extend far beyond events & venues, with economies and communities as relevant candidates. Therefore, we decided to categorize our software as an ‘Economy as a Service’ solution, with a lot of potential use cases.

Among the different use cases, we consider that Oveit could be a viable solution for helping those living in poverty. How exactly? Well, our technology enables economy owners to onboard external vendors and become part of it. The economy owner, which in this case might be a local authority or other organization has total control over businesses part of the economy. As we talk about people in need, the process of adding money onto digital wallets takes a different turn. The economy owner has the option to top-up digital wallets with a certain amount, replacing the need for the end-user (people in need) to do so.

The digital wallet can take on different forms. Ranging from wristbands to cards or QR codes, economy owners can decide on the most relevant formats based on their needs and environment. Transactions are 100% transparent and the available reports enable owners and vendors to see goods and services purchased. 

Potential use for access control in homeless shelters

Our technology is also used for access control in designated areas. For events & venues, we have a lot of active use cases, where organizers require attendees to purchase a special ticket category to access let’s say a ‘VIP’ area. With Oveit, such information is stored and ready to be claimed with a simple tap of the hand thanks to an NFC wristband, card, or QR code. All entries are recorded in real-time and the available reports provide organizers with exact entry numbers and other attendee information requested in the registration form.

This feature might be a viable solution to keep track of the presence of homeless people in designated shelter facilities. If for instance an individual doesn’t check-in for three nights in a row, authorities can further look into what’s going on.


July 9, 2020 Economy as a Service, Oveit Features, Power to Community, Technology, Uncategorized No comments yet

Small businesses and their impact on Local Communities

Think of your neighborhood or local community for a moment. You come back home after a long day and you pass by your favorite bakery, which is right across the street. Every Tuesday and Friday, you stop at this local bakery to surprise your beloved ones with some delicious sweets. Now, imagine that there is no bakery or other local shop in the proximity of your home. Not fun, right? 

Local businesses create a sense of belonging, providing character and individuality to a community. They enable local farmers, craftsmen, professionals, and other service providers to make a living and give back to their communities. They cover a variety of industries and most important, they enable locals to make a living by pursuing their passions. Unfortunately, their value and contribution are most of the time underestimated.

In this post, we are going to place the focus on small businesses and their positive impact on the overall well-being of local communities. Remember, just because a business is categorized as “small”, it’s not necessarily as small as you think. They are classified as businesses with up to 500 employees.

Establish a unique community identity

A well-established community with a respected identity creates a sense of pride, self-respect, unity, sense of belonging and social responsibility for people, groups, and organizations in it. The visual impression of a community is very important for its prosperity and reputation. Whenever you walk into a large chain, such as Walmart, you have no clue what community you are in. On the other side, when someone walks into a small local business, it creates a more intimate and personal relationship between owners and clients.

Local job opportunities

People that live in small towns are usually limited in terms of finding jobs that don’t require travel and commuting. An increasing number of people leave their hometowns for better opportunities. This action does not have a positive economic and social impact on the well-being of a community.

Fostering local jobs proves to be extremely effective in lowering local unemployment rates in economically distressed communities. A small business that hires locally does not only prove that it cares about the community, but it also keeps business professional and authentic. Local employees are aware of their surroundings and have the right knowledge to make valuable recommendations for tourists and locals as well. Localwise is an innovative platform that enables locals to find a wide range of jobs in the proximity of their homes.

Community health

Besides contributing to the identity of a local community, small business owners can build healthy and long-lasting relationships among locals. They are more likely to know their customers by name, leading to personal relationships that can’t be replaced. It makes them feel part of a strong community that shows great care and involvement in its prosperity.

They can form casual relationships, such as merchant’s associations or mentoring. They inspire locals and educate them on best business practices. Small businesses within communities tend to adopt and implement worksite health promotion programs (WHHPs). Worksite wellness programs introduce preventive strategies that improve employee health, such as public events and volunteering. Another unique characteristic of small businesses within communities is that most of the time, owners know each other and promote their products or services through word of mouth and referrals. They care about the well-being of the entire community and of the small businesses part of it.

Less infrastructure and low maintenance

As expected, small businesses require less work and maintenance compared to your standard large corporation. Since they are mostly small and don’t have complicated infrastructure requirements, their environmental footprint is almost nonexistent. Most locally owned businesses operate in remodeled and repurposed older downtown buildings. This leads to less public services and infrastructure required.

Small businesses create a greater community impact than many realize. They have the potential to form long-lasting relationships among community members, create local job opportunities, improve the overall well-being and community health while building a strong local identity. Remember, the most efficient way to promote your business within a community is to become involved in your town while being responsive to the vibe of your community.

July 3, 2020 Economy as a Service, Power to Community, Uncategorized No comments yet

How can blockchain technology improve the travel and tourism industry?

According to robust data, the travel and tourism industry is the second-fastest-growing sector in the world, after manufacturing. The World Travel and Tourism Council (WTTC) concluded that in 2018, travel and tourism increased by 3.9%, more than the global GDP growth of 3.2%. As we speak, the Coronavirus outbreak generates a degree of uncertainty related to how and when the travel and tourism sector will get back to normal. However, we consider that destinations around the world begin to accept this delicate situation with a number of precautionary measures in place. Besides recommended measures coming from local authorities, such as social distancing and proper hygiene, we believe that travel and tourism organizations have the proper resources to integrate innovative technologies, such as blockchain and cryptocurrencies.

If used accordingly, blockchain and cryptocurrencies can contribute to the comfort and safety of a traveler’s journey. It can provide a new experience in terms of booking travel tickets and hotel rooms, removing intermediaries out of the way. For the purpose of this article, we’re going to explore different applications of blockchain technology in the travel and tourism industry.

First, what is blockchain technology exactly?

Even if it might sound confusing at first, it is actually pretty straight-forward to understand the basics of it. It can be looked at as a list of public records, also known as public ledger, with transactions between parties listed or stored in a transparent manner. Individual entries are encrypted and grouped into blocks that form a chain, therefore leading to the blockchain terminology.

The main characteristic and differentiator of the blockchain technology is that data is decentralized, meaning that it becomes available throughout the different nodes or computers part of the network. Copies of the compiled information are available on individual devices that are part of the network. In other words, the information stored is shared across a peer-to-peer (P2P) network. It is completely transparent, and it cannot be altered without the permission of the entire network and without modifying all subsequent blocks.

Applications of blockchain in Travel and Tourism

Recently, blockchain has gained a lot of interest in the travel and tourism industry. An increasing number of major companies have incorporated this technology in their list of offerings. Below, there are different ways in which blockchain technology might be used in the travel and tourism sector.

  • Lower transaction costs

The implication of intermediaries has inevitably been one key issue in the travel and tourism sector. These third parties involved in the booking process of hotels, airlines and other travel service suppliers result in additional fees for the end-user (tourist or traveler). TripAdvisor is an example of a third party that charges additional fees for their available services.

With the employment of blockchain technology, the long chain of intermediaries that results in delays and financial losses can be simplified. It is an ideal way to close the “gaps” made by different payment providers. At the moment, travel agents wait on average 60 days to earn their commission after a client checks out, because of the many parties involved in the payment cycle. Commission reconciliation can be a real hustle among travel agents. Travelport, a B2C travel service provider decided to adopt IBM’s Hyperledger Fabric to assure commissions paid to travel agencies. The main purpose of this partnership is to decrease the number of third parties involved in the payment cycle, by relying on blockchain in the process of a booking.

  • Trucking luggage

I bet that some of you that are reading this post have experienced issues with claiming a luggage, especially when dealing with international destinations. It’s definitely not a good start for a holiday or business trip. A traveler’s baggage is subject to several automated and manual processes, before being picked up at the final destination. This luggage itinerary is stored in a non-standardized form by the parties involved and these parties include airlines personnel, transportation companies, airports, and local authorities.

Blockchain, with its online-record keeping system stored on a peer-to-peer network can be a game changer and step up the way in which airlines tackle the problems of lost luggage. This way, both customers and airlines can track a luggage in all stages of its transfer process, offering full transparency to the process. Therefore, if a bag is mistakenly left behind, airlines can easily access its entire journey and identify the exact point where it went missing and the reason for that.

Back in 2017, Air New Zealand partnered up with Winding Tree, a decentralized Swiss travel start-up. The main purpose of this collaboration was to explore applications of blockchain technology in the airline’s business. Their mission was to improve  security and efficiency of services, such as baggage tracking and ticket booking.

  • Traveller’s identification

As blockchain does not store information on a central database, the customer identification process can save up a considerable amount of time by using this technology. It can even replace passports and become an industry standard for storing such personal information.

The World Economic Forum along the governments of Canada and the Netherlands launched a pilot program for paperless journeys between the two countries. This new project, entitled Known Traveller Digital Identity (KTDI), is the only solution to use digital identity for international trips, giving the traveler’s full control over how their own data is used. Personal data that is usually stored on a passport’s chip is replaced by encrypted data stored in a traveler’s digital wallet and it becomes available on mobile devices. Compared to old-fashioned ID systems that are operated by centralized authorities, KTDI is based on blockchain technology.

  • Secure and traceable transactions with Cryptocurrencies

An increasing number of companies in the travel and tourism sector begin to realize that accepting cryptocurrencies as a payment alternative creates a seamless purchase behavior. The major benefit that cryptocurrencies brings with it is that it eliminates traditional payment methods that rely on third-party payment apps. This way, transactions can occur between two entities directly involved. Payments based on blockchain technology will also decrease the time needed for completion of payments, resulting in faster transaction speed and more sales.

Another benefit is that cryptocurrencies replace the need of exchanging money into the local currency. It eliminates currency exchange commissions and users can take advantage of the same value no matter where they are. Forget about spending part of your allocated budget on bank commissions.

Given the various benefits of accepting crypto payments in travel and tourism, there are still some gaps that need to be addressed. It is not enough for a single entity to accept cryptocurrencies. For example, a travel agency that accepts crypto payments will still have to exchange those to Fiat money to contract services from providers that do not accept digital currencies. It is a matter of time until other parties involved will realize the benefits it brings with it.

Final thoughts

There is no doubt that blockchain technology has enough features and resources to revolutionize the travel and tourism industry. However, this innovative technology is still in the early stages of its life. To take advantage of its unique features, such as personal identification, governments and other authorities should have a good understanding of the benefits that it brings to the table. Anyway, many organizations from the travel and tourism industry begin to find out its applicability and that’s obviously a good sign for those involved in it.

June 30, 2020 Future, General, Technology, Uncategorized No comments yet

How to organize safe events during a global pandemic?

Being an event planner during a global pandemic might be the worst nightmare that you can ever think of. However, these are things that we have little control over and require us to adapt accordingly. As we get used with living under imposed government restrictions, we can see several precautionary measures being removed from our daily lives.

Unfortunately, this new virus is directly related to mass gatherings, which are at the forefront of hosting events. Among the first precautionary measures imposed by governments was to restrict and put on pause the world of live events. During these challenging times, members of the meetings industry create complicated scenarios and endless debates on what it takes to organize events in such a global pandemic.

Therefore, this article is going to focus on different measures that can help our beloved world of live events to get back to normal during these unprecedented times. It is important to keep in mind that precautionary measures are extremely important, and we will only succeed by following strict guidelines. As we speak, an increasing number of events are either cancelled or postponed. Those that are postponed will soon have to take place and event organizers should be prepared to host them accordingly.

Pre-event safety measures

  • Implement attendance policies and restrictions

Stay up to date and determine which countries may experience an upward trend in terms of Coronavirus cases. The John Hopkins live-tracker is a great tool that keeps you updated in real time. Try to impose restrictions and limit potential attendees that visited in the past 60 days countries with a high-risk of infection.

  • Filter participants based on country of origin

It might be a good idea to require international attendees to bring their passports for an additional layer of safety. Those participants that visited a high-risk country in the past 60 days should not be allowed to enter the event premises. However, make sure to consult local travel restrictions and guidelines before taking such decision.

  • Provide flexible cancellation policies given the current situation

If for some reason you decide to postpone or cancel your event, show that you care and enable participants to use tickets for future editions or apply refunds if there will be no future editions anytime soon.

  • Consider hosting a Hybrid event

In our previous posts, we’ve talked about the benefits of hosting hybrid events. Given the current situation that we all deal with, that of a global pandemic, hybrid events might be the answer to deliver events to a broad audience. This way, those failing the screening process can attend the event virtually from all over the world. Streams.live is a streaming solution designed to accommodate the needs of a hybrid event and it can keep your audience engaged with little to no effort.

  • Public health tracking through data collection waivers

Follow global privacy regulations and collect necessary information from your participants. If any incidents occur during your event, public officials should at least have a name and a contact number from those attending. In the given context of a global pandemic, this information is required to conduct epidemiological investigations. With Oveit, relevant data can be collected through registration forms (GDPR compliant) and attendees are required to fill those details before they receive their electronic tickets.

The form setup. You can choose from text, dropdown lists, email, dates and file uploads
  • Keep attendees updated with special event rules

Make sure that participants are well-informed and aware of any uncommon precautionary measures implemented. It can take the form of a newsletter and most organizers send these updates two-weeks in advance, one-week prior, three-days prior, one day prior and a small recap during the event day.

Impose day of event precautionary measures

  • Temperature screenings at the event venue

As you already know, one common Coronavirus symptom is high body temperature. Therefore, before entering the event premises, staff members should screen attendees with thermal scanners to decrease the risk of infection. Those with temperatures higher than 37.8C must be escorted to an isolation room for additional investigations.

  • Designated isolation holding room

Together with health agencies, event organizers might have to prepare an isolation holding room for suspected cases. This room should follow strict disinfection procedures and medical staff must be present.

  • Regular deep cleaning throughout the venue

Contract an experienced cleaning team that gets the job done. Make sure that high-touch areas, such as door knobs, stairs handrails, chairs, registration areas and bathrooms are cleaned more often. Appropriate disinfectant substance should be used for deep cleaning.

  • Display health notices at the venue

Place health notices throughout the venue, especially in areas where attendees tend to crowd. These should include social distancing reminders, frequent hygiene practices, and other relevant precautionary measures.

  • Safety measures for Food & Beverage providers

Communicate with food vendors well in advance and educate them on best practices on how food should be served during your event. For example, instead of open buffets, advise them to serve individually wrapped food. If your F&B providers insist on using open buffets, make sure that they use splash and sneeze guards or other relevant food safety measures.

  • Hand sanitization devices around communal areas

Forcing people to use bathrooms for hand hygiene is not a good option since it compromises social distancing rules. Instead, a good backup plan is to place hand sanitizer dispensers in key areas, especially nearby meal, and beverage stations.

Follow-up after the event

  • Post-event surveys

Use these surveys to analyse your event’s success, but also to find out if any of those who attended are feeling unwell to avoid the spread of the virus.

  • Prepare attendee data if necessary

If public officials need the attendee data to conduct an epidemiological investigation, make sure that you have it handy and ready to go. Time is extremely important in such investigations.

In summary

Remember, these are general guidelines and before applying any of them make sure to double check with local authorities. We hope that events will get back to normal as soon as possible, but before that, better be safe than sorry.

At Oveit, our mission is to help event organizers accomplish their goals, even during challenging times. We try to find innovative ways in which our technology can be used in force majeure situations. Hopefully, these guidelines will help you get back and running.

Stay safe!

June 24, 2020 Access management, Event management, Event professionals, Event spotlight, Event tech, Events, Oveit Features, Technology, Uncategorized No comments yet

How to make event venues safe with Cashless Payments?

There is no doubt that the world of events and hospitality has been seriously hit by COVID-19 and the imposed lockdowns. Major festivals around the globe got postponed or canceled. Across Europe and not only, governments begin to realize that imposed restrictions are indeed an efficient way to limit the spread of the virus, but they also realize that such restrictions can only harm economies in the long term. So, should event organizers implement cashless payments as a precautionary measure to limit the spread of the virus?

As economies get back and running after weeks of lockdown, many of us face unprecedented situations in terms of conducting business and daily activities. Even before this pandemic, it was obvious that the use of cashless payments solutions around the world is on the rise. But guess what? In a post-COVID-19 world, cashless payments might be more important than ever.

It is predicted that a new type of customer will emerge from this pandemic. We already saw an increase in demand for cashless payments solutions over the last years, but the differentiator lies in how providers deliver those expectations and how it separates them from other competitors.

Facts about COVID-19 and Cash handling

Government officials have strongly advised us to avoid cash handling during the coronavirus outbreak. It is well-known that cash is notoriously covered in germs, but what is the reality when it comes to COVID-19 and cash? According to many experts, the chances of being infected after handling cash is still low compared to other ways of spreading the infection. According to a recent post published by Reuters, the U.S. Federal Reserve started quarantining physical dollars coming from Asia, before allowing it to recirculate in the U.S. market. It was treated as a precautionary measure against spreading the virus among U.S. citizens. Although there is no hard evidence saying that handling cash increases the risk of infection, many retailers decided to advise their clients to use cashless alternatives.

At Oveit, we’ve decided to upgrade our closed-loop payment solution and add two additional features, very relevant in the given context. These two are related to real-time footfall tracking capabilities and an App which enables attendees to act as their own cashiers.

End user App (Wallet) for Cashless Payments

Without an end-user App, attendees would still have to visit a physical top-up point to add money to their digital wallets. After many years of experience and feedback coming from our partners, we concluded that building an end-user App (wallet) can bring more value in return, for both event organizers and participants. The purpose of this App is to create a seamless top up process for the end-user (attendees), allowing them to use their own smartphones for comfort and security purposes.

For the event organizer, this alternative decreases the number of cashiers required on-site and therefore reduces the event costs. Attendees are empowered to act as their own cashiers with the entire process being automated. Moreover, by activating the ‘Auto top-up’ feature, participants can assure that their digital balance will never fall under a pre-defined amount.

Also, the withdrawal process is simplified. Traditionally, the process required attendees to visit physical top-up points and receive cash in exchange. The top-up was done by either card or cash payment, but the only option to withdraw the remaining amount was by receiving cash back. The end-user App (wallet) removes this step and enables participants to withdraw the remaining balance on their own or even use it at another event. 

Footfall Tracking

Recently, we’ve received a request from one of our clients. He wanted to know if it’s possible to track in real time the number of attendees in specific areas of the venue. 

With the current social distancing rules in place, we believe that being able to track footfall in real-time can contribute to a safe and responsible event. This way, you can benefit from a modern alternative to control the number of attendees inside a venue. How does it work?

1.       Attendees arrive at the event with their electronic tickets ready to be scanned

2.       A designated staff member hands in NFC wristbands/cards/badges for every participant

3.       By using the Oveit Pay App on an Android device, a staff member simply scans the QR code on the ticket and pairs it with a wristband/card/badge

4.       Before passing the entry point, participants are required to tap their NFC tags on an NFC enabled reader

5.       The same process applies for check out. Participants tap their NFC tags on NFC enabled readers placed at all exit points

Final Thoughts

Among event professionals, we’ve seen continuous debates on whether the event industry will change in the future and how it will change. As retailers get back and running, B2C and B2B interactions look different, with several precautionary measures in place. It’s the aftermath of a global pandemic and it’s our responsibility to act accordingly.

As we are eager to see events coming back to normal, we strongly believe that Oveit can contribute to a safe and responsible way of hosting large gatherings. Of course, other parties must get involved to achieve that, but in terms of safe payment practices and access control, we got you covered!

June 17, 2020 Access management, Economy as a Service, Event management, Event professionals, Event tech, Festivals, Oveit Features, Technology, Uncategorized No comments yet