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Social credit system
- 1. Social Credits “The currency for doing Good” Asia Pacific DealFlow Ltd 1703 Infinitus Plaza, 188 Des Voeux Rd Central Hong Kong
- 2. Serial Entrepreneur TIE Mentor TEN member Cocoonian Startups E-Finet.com (8317.hk) Fortitude Securities New Media Research Career Thomson Financial SBC Warburg Offshore Banking Family Office mgmt. About Me download Tony Cha’scareer bio
- 3. Good Deeds Charity and Philanthropy Volunteer Work Responsible Consumerism Social Activism
- 4. 1. Social Impact Poverty Environment Community Health
- 5. 2. Inner Values Blessings Karma Niyyha ( Fu Qui 福气)
- 7. Channeling good deeds via Social Enterprises to create value VALUE Inner Recognition Impact DEEDS Activism Volunteer Donations Investments Money $ Other For Profits Non-profits Charities SocialEnterprises
- 8. Social Enterprises –issues • Lack of funding (donation, loan, equity) • Product demand (for products and services) • Public Awareness (campaigns) TECHNOLOGY Gamification E-commerce Loyalty systems FINANCE Alternative Currency Crowdfunding Monetary Economics ISSUES SOLUTIONS Source: Challenges and What’s Next in Building the Impact Investing Industry, Rockefeller Foundation
- 10. Consumer Social Enterprise SC Fund SE Credits A currency for doing good Funder Social Enterprise SC Fund Funding Activist campaigning Activist Voluntary work Social Enterprise SC Fund Consumption SOCIALCREDITS SOCIALCREDITS SOCIALCREDITS 1US$ per SC 1Oc per SC Market price 5c per SC Voluntary – market rates 10 SC per blog 1SC per post 10c per SC
- 11. 1. Crowdfunding Not equity or loan Not rewards based Funding for Social Credits 1 Social Credit = 1$ of investment SOCIAL ENTERPRISES Stimulating funding for social enterprises FUNDERS A way to reach to the mass retail investors via heart to wallet Recognition for doing good
- 12. Entrepreneurs Investors, Activists Social Enterprise Groups Crowdfunding : (system already in place) Entrepreneurs, Investors, Mentors and & Advisors, Service Providers Any type of business, company or organization Private Groups, clubs and associations, local angel groups, VC firms
- 13. 2. Consumer (E-commerce) e-commerce cart An EBAY of Social Enterprise Products RESPONSIBLE CONSUMERS Spend your social credits (air miles, loyalty programs) SOCIAL ENTERPRISES Creates a demand for their goods and services
- 14. 3. Campaigning (social media) • Few will fund, but many people will get involved in other capacity. • BLOGGING • SHARING • VOLUNTARY WORK
- 15. 4. Social Recognition GAMIFICATION of Social Credits Leader BoardsAchievements and Awards Social Credits stores wealth and measures status Hoarding of Credits ?
- 16. A Banking system for Good ? Social Credit Fund Social Enterprises Funders/ Consumers Social Enterprises Funders Consumers Activists Social Enterprises SEF A social credit based economy Social Credits Issue and Redemption Offer SC Trade SC Reward SC
- 17. Social Credit System Social Credits Funding Direct Impact Consumption Goods and Services Demand for Social Credits Awareness Activists Volunteers Evangelists Secondary Stimulus Secondary Stimulus
- 18. Interested – Get involved ! • Rockefeller Foundation Impact Challenge – USD$ 100,000 grant prize business plan – 12 days left • TEAM – Board of Advisors – Team ( entrepreneurs) • Social Enterprise • Investors and Funders
- 19. FUNDING CONSUMER SOCIAL RECOGINITION AWARENESS INVOLVEMENT Thank You ! Asia Pacific DealFlow Ltd Registered address : Suite 1703 Infinitus Plaza 199 Des Voeux Road Central Hong Kong Tel +825 2570 1161 Fax +825 3020 1086 info@apstartup.cm
- 20. References • Equity crowdfunding in Europe http://www.crowdsourcing.org/editorial/a-cloudy-forecast-equity- crowdfunding-in-europe-part-1/20692 • Building a Virtual Economy • http://www.slideshare.net/mattmcallister/building-a-virtual-economy • Social Gold • http://www.slideshare.net/socialgold/social-gold-how-to-launch-your-own-currency
Notas do Editor
- Good afternoonMy name is..Introduce Social Credits…
- A quick introduction to meSerial EntrepreneurFinance and Technology BackgroundI am not from Social EntrepreneurYou are wondering what I am doing here……answer later
- A philosophical question - Why do we do good deeds ?( different good deeds)YOUNGER a former investment banker - good deeds are not natural for me OLDER - good deeds become more natural2 examples of good deeds I have done…..BUT why do I do good deeds ?4 reasons why we pursue good deeds ?
- We ALL wish to make a social impactWe want to solve the big problem in societyHere are 4 big problems…there are many more…Improve our world
- From doing good deeds, We get an intrinsic intangible rewardIt is common in different religions and culturesI call it inner valuesDifferent guise of inner values in different cultures
- We all seek social recognition, Lets face it, people are VAINWhy does Bill Gates his fortune to philanthropyHow does Mohammad Yunnas winning the nobel peace prize forWhy do we have awards at different levels ?It is a legacyIt sets a roll model for us
- IF we takethe social enterprise in all its formsWe channel our good deeds via Social EnterprisesOften the driving force of this is MONEYFrom this , the VALUE are created in its forms…But I ask, is money the right currency to measure our deeds and the value it creates ?I propose a new currency to measure good deeds and values – social credits
- Lets look at the major issues facing social enterprises todayAccording to a major Rockefeller Foundation report – the 3 major issues facing Social Enterprises are :-I propose to solve this with a mixture of TECHNOLOGY and FINANCE solutions1.
- I believe we can built the entire social enterprise eco-system around social credits…Funding, Consumer through to Involvement through Voluntary and Activism Social Credits give RECOGNITION, AWARDS and STIMULUS for people to participate in each of the activities
- Lets take an illustration of how social Credits workFunding, Reward Social credits to funders , Give 1SC per 1 USD invested , Cost of issuing to SE is 10c per SCConsumption - With SC, consumers can buy at discount, without SC, consumers can buy at full price plus SC bonus, leave to market ratesActivist Campaigning - Reward Activists for involvement, Volunteer rate – leave to SE to determine value of work, Blogging 10SC , posting 1SC
- Equity does not work for retail investors – rules and regulationsLoans - difficult to administerRewards – what if the product is not right for you ?Social Credits – alterative rewardsJust like loyalty programs – airmiles or loyalty point schemes
- You probably may ask – why am I doing this ?Answer - I have most of the components in placeSocial Media and Crowdfunding is already in place in my website www.apstartup.comMatter of putting in the ECOMMERCE , SOCIAL CREDITS POINTS SCORING
- We want to Make social credits desirable We use social Gamification techniques ( a whole new area of study)Achievements and AwardsLeads to SC measure of social wealth and statusCOULD lead to hoarding of social credits - increasing the value
- Social Credit Bank issues and redeems social creditsIt issues only to accredited Social Enterprises at USD10c per social CreditIt redeems from Social Enterprises at USD5c per social CreditSocial Credits are used by Social Enterprises to incentive FUNDING, CONSUMPTION and ACTIVISIMSocial Credit Bank offers to redeem social credits at 50c per social creditWe prefer owners to hoard social credits for wealth and prestige