Shanzhai City (“SZC”) announced today the launch of Impact Oxygen Exchange (“iO-X”), the world’s first community impact exchange network driven by real-world impact data from grassroots communities built on the blockchain and AI. It will be first piloted and launched in Guizhou, Anhui and Yunnan in China, then Southeast Asia. In its first application, iO-X aims at serving annual transactions of RMB 3.7 billion of local food, products and services in rural China. iO-X is a joint venture partnership between SZC’s unique last-mile data strategies developed for rural and remote communities and MiQS Technologies (MiQS)’s high performance exchange technologies, it targets to acquire up to 20 million users in 2 years and 100 million in 5 years from developing regions worldwide.
In this first application, iO-X allows rural households or cooperatives to trade local products on the blockchain. All product sourcing, production, logistics, pricing and user data will be published in the fully-transparent environment to allow trackability, fair-trading and inclusive local development. iO-X, powered by MiQS’s flagship product – XWings, can power numerous local impact exchanges at the same time to serve high-volume P2P level transactions.
Following China, iO-X will be launched in communities in Vietnam, Laos, Myanmar, the Philippines, Papua New Guinea, with observers from The World Bank, Asian Development Bank, and International Monetary Fund (IMF).
In celebration of the first application of iO-X in Guizhou Province, a 4-day event starting today, “The Rural Product Innovation and Folk-Art Revival Forum” was organized with direct support by Maogong Township Government in Liping County, Guizhou Province. Dr. Tat Lam, co-founder and the CEO of Shanzhai City, was invited to officiate the launch.
“Building iO-x, the community impact exchange, is a remarkable achievement for Shanzhai City and more importantly the first real step towards revolutionizing the global blockchain data infrastructure for sustainable development,” said Dr. Tat Lam.
“Thanks for MiQS’s lightening-fast and institutional-ready exchange backend, iO-X makes blockchain technologies available for grassroots communities to facilitate their everyday life businesses and reinforce local trust economy. With the highly-adaptive nature of our poverty-market-focused user engagement solutions, we are ready to deploy the system across communities for the untapped yet highly desired impact investing markets, which are known as high-impact and high-return. This blockchain solution is well positioned to become the badly needed solution to vitalize economically underdeveloped regions as well as the driving engine for real long-tail business on the blockchain.”
iO-X’s first use case is developed for “GOODS FOR PEOPLE” (“GFP”), initiated by Design Venture Forward (DVF), an agricultural business and cooperative collaboration platform for rural communities in China to publish best practice data of authentic farming on blockchain to enhance fair trade and local economic growth.
Unique features of iO-X, the community impact exchange:
– high transparency and traceability blockchain technologies for people with limited data literacy to use
– consumers and impact investors will have access to the information throughout the farmers’ profile, food production, distribution process and impact data on blockchain, ensuring food safety and fair trade
– local farmers and suppliers can upload personal, community, food production, outcome measurement and impact validation data through SZC’s DApps (impact oracle marketplace) to manage social development collectively
– by incentivizing self-reporting data by the local communities, management and impact measurement cost will be 4 times less than the services by mainstream market stakeholders