The IOV Foundation is achieving a sustainability milestone by launching AGUA, an innovative tool that enhances transparency and traceability. Developed with global blockchain experts, including our team, AGUA is now operational and playing a key role in boosting trust across social and environmental initiatives.
Projects and Collaborations
In 2023, the IOV Foundation funded AGUA’s first pilot (https://www.unicefventurefund.org/story/agua-revolutionizing-global-collaboration-funding-transparency-growth-graduate-atix-labs). We are now collaborating with Globant to progress to the second use case and are completing the testing phase in a participatory carbon project. Our goal is to fulfill commitments to local communities, ensuring full participation in our action registration process for maximum transparency.
Agustin Pandolfini, Head of Community Relationships, emphasizes, “Taking a proactive role in AGUA’s new case is crucial for us. We actively manage the loading and verification processes, enhancing traceability and transparency. This proximity to project implementers helps us understand the significant value AGUA adds to their daily operations, aiming to improve life quality comprehensively.”
Blockchain and Transparency
AGUA offers organizations a transparent and verifiable system to demonstrate proper fund usage. It helps define projects with specific milestones and activities, each associated with a budget, acceptance criteria, and a designated auditor. After we define a project and its stakeholders, we publish it on a public blockchain, ensuring an audited record is available.
Blockchain’s decentralized nature ensures data distribution across the network, making retroactive data alteration or manipulation nearly impossible. This level of transparency allows stakeholders, auditors, and the community to independently verify project progress and financial dealings without relying on the original platform. Moreover, decentralized data storage not only secures information but also enhances access and long-term accountability.
A Commitment to Sustainable Innovation
“Aligning with Earth Day, our commitment to pioneering agnostic, decentralized, and open-source solutions makes us proud to partner with organizations that echo our vision and dedication to a reliable, sustainable digital future,” says Sabrina Diaz Rato, Director of the IOV Foundation.
For more information about AGUA and the work of the IOV Foundation, please contact us at [email protected].
