In this challenge, ADB aims to find ways to use NFTs to address development problems applicable in Asian countries.
Non-fungible tokens (NFTs) are unique digital identifiers that cannot be copied, substituted, or subdivided, that are recorded in a blockchain, and that are used to certify authenticity and ownership (as of a specific digital asset and specific rights relating to it) of items such as photos, videos, audio, and other types of digital files.
Recently, NFTs have attracted attention for the first tweet tweeted being sold for just under $3 million, a video by the artist Beeple being sold for $6.6 million, and the Nyan Cat meme selling for nearly $600,000.
Transactions recorded on blockchains are reliable because the information cannot be changed. Smart contracts can be used in place of lawyers and escrow accounts to automatically ensure that money and assets are exchanged and the agreement is being honored.
Clearly, NFTs create opportunities for new business models that didn’t exist before around selling and owning digital items but what are the opportunities for development? Could NFTs solve the issues of land ownership and other inequality issues? Can they be used for climate action projects? Could they be used to provide food security?
ADB wants to hear your proposals on how can NFTs be used to advance ADB’s Strategy 2030 Operational Priorities in Asian countries.
ADB’S STRATEGY 2030:
OPERATIONAL PRIORITIES
Strategy 2030 sets seven operational priorities, each having its own operational plan. The operational plans contribute to ADB’s vision to achieve prosperity, inclusion, resilience, and sustainability, and are closely aligned with Strategy 2030 principles and approaches. This challenge is looking for solutions that target one of the following principles:
Addressing remaining poverty and reducing inequalities
Supports the Sustainable Development Goal agenda to tackle poverty and inequality and leave no one behind.
Strategic Operational Priorities
Human capital and social protection enhanced for all
Quality jobs generated
Access to opportunities increased for the most vulnerable
Tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability
Thirteen of the seventeen Sustainable Development Goals are relevant to or will be impacted by actions on climate change, climate and disaster resilience, and the environment.
Strategic Operational Priorities
Mitigation of climate change increased
Climate and disaster resilience built
Environmental sustainability enhanced
Promoting rural development and food security
Although significant progress has been made in meeting food security, in Asia and the Pacific, hunger and malnutrition persist.
Strategic Operational Priorities
Rural development
Agricultural value chains
Food security
Accelerating progress in gender equality
Support for gender equality and women’s empowerment is also central to the 2030 Agenda for Sustainable Development.
Strategic Operational Priorities
Women’s economic empowerment increased
Gender equality in human development enhanced
Gender equality in decision-making and leadership enhanced
Women’s time poverty and drudgery reduced
Women’s resilience to external shocks strengthened
Making cities more livable
Cities in Asia and the Pacific have unprecedented opportunities to transform the well-being of their citizens and to catalyze economic development through increased urbanization by 2030.
Strategic Operational Priorities
Improve access, quality and reliability of services in urban areas
Strengthen urban planning and financial sustainability of cities
Improve urban environment, climate-resilience and disaster management of cities
Strengthening governance and institutional capacity
Governance and institutional reforms are needed to sustain development momentum in the region and to ensure that the benefits of growth are equitably and widely shared.
Strategic Operational Priorities
Strengthened public management and financial stability
Enhanced governance and institutional capacity for service delivery
Strengthened country systems and standards
Fostering regional cooperation and integration
Operations are expected to enhance connectivity and competitiveness, promote regional public goods, strengthen cooperation in the finance sector, and strengthen subregional initiatives.
Strategic Operational Priorities
Greater and higher quality connectivity between economies
Global and regional trade and investment opportunities expanded
Regional public goods increased and diversified.
Awards:-
USD 10,000 or more seed funding in the selected ADB’s developing member countries.
Deadline:- 08-10-2021
