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The Whole Earth Foundation was established with a vision to improve the aging infrastructure of the world with its advanced tools and ecosystem. The solution to the problem is the partnership between the general citizens and service providers, who will collect data geographically to work on the project and will reward them with Whole Earth Coin (WEC) tokens.
The aging infrastructure problem is a universal issue around the world. Societies around the globe are facing challenges of deterioration and inefficient management. In developed countries like the U.S., it is estimated that at least $2 trillion will need to be spent on infrastructure over the next five years.
There is no doubt that technology has led to significant developments, yet there are certain limitations like aging infrastructure and service providers governing these infrastructure assets have not always adequately maintained or renewed the facilities they manage. According to The World Economic Forum, this phenomenon stems from factors such as “corruption to overbearing bureaucracy to under-skilled labor forces,” and infrastructure remains one of the “least digitally transformed in the entire global economy.”
Despite the availability of tools, change has been slow in the real world. Hence, comes to the rescue is the Whole Earth Foundation, established as a non-profit organization.
The Whole Earth Foundation aims to restructure the infrastructure sector and democratize infrastructure management. The foundation seeks to accomplish this by making information about the status of the infrastructure more accessible and visible to the general public.
Citizens and service providers go hand-in-hand
Bringing citizens and service providers on a unified platform is the core of what the Foundation is trying to achieve. To address the problems of imbalance in access to information between service providers and citizens and lack of available incentive among parties to challenge the status quo, the Whole Earth Foundation connects the citizens and service providers through an ecosystem of applications powered by the environmental database.
They plan to equip the citizens with information about their infrastructure so that they can be informed and effectively voice their needs to the service providers. Service providers can then more efficiently use resources and better manage their infrastructure by communicating with their citizens.
Digital Asset Approach
To engage the citizens to achieve, the Foundation has developed a novel incentive mechanism that aims to help the citizens earn rewards for their efforts in collecting information on their surrounding environment. The approach will help to grow the database containing detailed information about the infrastructure, and an ecosystem designed to facilitate communication and collaboration and earn tokens for the citizens’ contribution. Are you confused? How will this happen?
Well, the company has a structured plan for this as well. What one earns will fluctuate on how much one has contributed to help improve the infrastructure. Participants will earn a blockchain-based token WEC for the provision of high-quality data, enabling a free and open marketplace that gives access to the creation and exchange of important data.
Well, it is essential for the citizens to collect the data of the infrastructure, which is the core of the foundation. The foundation is helping to provide a unified source of information about the infrastructure and environment, whereas online these information are separated and not integrated together. In the partnership with Nippon Chutetsukan, the Foundation creates mobile games that allow general citizens to collect data on environmental infrastructures, such as leaking water pipes and manholes.
There is extensive information about the environment and infrastructure that is available online. Over time, this database will exceed and become more advanced via information contributed by the general citizens of the ecosystem.
Hence, they will be rewarded in terms of digital assets. Thanks to blockchain technology, the citizens who participated will be entitled to get the digital token called Whole Earth Coin (WEC). For every data collected and contributed, the foundation will reward them with WEC.
WEC Tokens
All who wish to join the foundation, collaborate with the project, or utilize the collective data, will have to pay a subscription fee to retain the partnership with the foundation. These funds will further be used to purchase WECs to pay for project development costs.
WEC tokens can be utilized within the ecosystem as the projects develop and foundation plans to form a strategic alliance with the organizations.
Future service providers and partnering organizations that wish to collaborate on projects with the Foundation, or utilize the foundations’ network and tools can buy WECs as a subscription fee for maintaining a partnership.
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