Frequently Asked Questions

General
What is impact?
We define impact as the positive contribution made by people towards the environment and/or society.
If impact events occur in the past, how far back can they go?
The age of the impact varies on a case by case basis depending upon the type of impact. Proof of Impact works diligently with impact creators to deliver the impact data as real-time as possible.
How is sole attribution defined?
Sole attribution means that one program funder is linked to one unique unit of impact. You will receive your impact via your dashboard, displaying the specific impact attributed to you, along with the unique data points showing the impact occurred.
Funding
What does it mean to fund impact with Proof of Impact?
As a funder of impact, you are buying data demonstrating that the impact you purchased was achieved, and that you are receiving sole attribution for each unique unit of impact purchased.
How does the impact creator use my funds?
Your funding provides working capital for the impact creator to do more good. This may include continuing to use their current operating model to deliver more impact events, assessing how they can build efficiencies into their approach, or testing new innovations to enhance their sustainability.
Why pay impact creators for impact that was already achieved?
We believe that we can create a more transparent, data-driven funding model that incentivizes impact creators to innovate and continue serving the world’s most critical needs.
Is there a fee when working with Proof of Impact?
All transactions facilitated by Proof of Impact are subject to a 10% service charge.
Where do my funds go?
Your funding goes directly to the impact creator. As the experts on the ground, we believe impact creators have the best understanding how to use the funds, in the most efficient way, to continue delivering impact.
If the impact I funded has already occured, who originally funded it?
The impact creators funded the impact using their own working capital. An impact creator can have a variety of funding sources (e.g., loans, grants, donations, investors) that jump start their efforts and make up their working capital.
How does Proof of Impact determine the price of impact?
We price impact based on a variety of inputs, including the cost of implementation, the ability of the impact creator to collect data, the difficulty of verifying the data, the demand for the impact, and the value of the impact. We then set a price that we believe will result in the highest amount of impact achieved and we adjust based on feedback from both impact creators and funders.
Verification
How do I know that the impact I’ve paid for is unique to me?
We track unique units of impact to unique users. In addition, each of our impact creators sign commitments and agree that they have not in the past and will not in the future sell the impact value of their impact events to any other funder. Finally, when you purchase a unit of impact, it is recorded on an immutable public ledger - meaning that no one other than you can take ownership for the impact you’ve purchased.
How does Proof of Impact verify that the impact occurred?
We believe impact is self-evident through data. After conducting a vetting and onboarding process with impact creators, we conduct a design process alongside them, and run every impact event through our rigorous verification process. This can include basic quality assurance checks to ensure reasonable data completeness and reliability (e.g., logic tests, cross-sectional data comparison, longitudinal data comparison) and cross-checks against external online sources (e.g., via web scraping), or more advanced verification that relies on technology and IOT devices to confirm the occurrence of an impact event.
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