GBBC Giving, a nonprofit organization under the aegis of the GBBC, is dedicated to galvanizing support amongst the blockchain and digital asset community to empower underserved communities globally to mitigate the widening digital divide and democratize access to opportunity, regardless of gender, age, geography, disability, or socioeconomic status.
The Los Angeles Blockchain Lab, LLC and LA Blockchain Center (LA Blockchain Lab and Center) have joined forces under GBBC’s corporate umbrella with Center becoming ‘GBBC Giving,’ the parent entity of LA Blockchain Lab.
Food for Crisis, a Web3 Initiative
First conceived at GBBC’s Blockchain Central alongside the United Nations General Assembly (UNGA) in September 2022, Food for Crisis aims to raise, track, and trace donor funds, utilizing Web3 technologies to drive innovation addressing the worsening global hunger crisis. By leveraging the power of blockchain technology to improve the delivery of humanitarian support, Food for Crisis will support a more sustainable future through innovation.
Communities across the world have been devastated by the global food crisis due to the combined effects of ongoing conflicts, economic shocks, climate extremes, contributing to the disruption of supply chains and soaring fertilizer prices. According to the new 2023 State of Food Security (SOFI) report, as many as 783 million people did not know where their next meal would come from. A record number of more than 345 million people across 79 countries are also facing acute food insecurity. This is an increase of almost 200 million since early 2020 (pre-COVID-19 levels).
Food for Crisis aims to increase awareness of the global food crisis and raise funds to urgently mobilize resources to end hunger at scale. A pilot fund of USD 100 million in donations (in fiat, crypto, or donations in-kind) is the initial goal, with a moonshot target of USD 1 billion. Funds will be distributed to the humanitarian sector for emergency relief operations and the development of innovative and sustainable solutions to help disrupt global hunger.
The WFP Innovation Accelerator and GBBC Giving, GBBC’s c3 charitable arm, are working together with the supporting organizations within Food for Crisis to develop a blockchain-based solution to provide an additional level of trust and transparency regarding funds donated for humanitarian aid. The technology will continue to be developed, with a pilot planned for 2024, in countries currently facing severe food insecurity in need of intensive support amid limited funding.