Territories in Development
Decentralized funding platform using blockchain to promote sustainable progress and inclusiveness in developing countries.
Territories in Development (TiD) is a platform that aims to promote sustainable progress and global inclusiveness in developing countries by decentralizing decision-making processes and funding allocation. It addresses the issue of centralization in project selection and funding, which can lead to a divergence in interests and reduce the potential for long-term positive impact on local communities. TiD uses an observatory as its communication medium and a crowd-lending platform as its funding medium to promote the spread of ownership and remove centralization over the control of specific territories and projects. TiD values the existing human and ecological resources of developing countries and turns charity into an investment, thus enhancing local cultures for a more culturally diverse and inclusive world. The platform uses blockchain technology to enhance transparency in funding allocation, automate ownership exchange with smart contracts, and democratize access to NGO funding, private equity, and venture capital investments.
In developing countries, decision-making, project selection, and funding allocation for initiatives are highly centralized, which prioritizes bureaucratic processes over actual action. This can lead to a conflict of interests between project proponents and local communities, reducing the potential for long-term positive impact. Although governmental, intergovernmental, financial, and corporate institutions offer their own funding and initiatives, non-profit and non-governmental organizations (NGOs) also provide foreign financing to make a positive impact on various social groups and environments. However, these organizations are hindered by traditional structures of governance, decision-making, and fundraising, which dilute their ability to support projects effectively. Furthermore, the funding of NPOs and NGOs is increasingly coming from governmental entities.