Crypto Altruism Podcast Episode 113 - TóróNet - Empowering community-driven development in emerging economies with blockchain
In episode 113, we’re excited to welcome Bolaji Akinboro and Arkan Akin, Co-Founder’s of TóróNet, a Layer-1 blockchain with a vision for a world of access where finance and technology serve communities so they can fulfill their aspirations for a better life. We discuss how blockchain can drive financial and social inclusion in emerging economies, how Web3 tools can support smallholder farmers, why blockchain is well suited to address some of the most pressing international development challenges, and much more.
Three Key Takeaways
When it comes to international development efforts, real change happens at the community level, led by last mile communities. As such, it’s important to make sure that new technologies like blockchain are accessible to these communities and have a simple User Experience (UX)/User Interface (UI).
Technology alone won’t solve the world’s most pressing international development challenges, so it’s important to partner with local and international NGOs, governments, and communities when using blockchain technology to implement international development projects.
When onboarding new individuals to Web3, it’s important to lead with the benefits, not the technology. NGOs and community members don’t necessarily care about the tech behind a project, but rather the benefits and impact of the project itself.
Follow Bolaji, Arkan, and TóróNet
Episode Time Stamps
02:20 - What was your “Ah hah” moment that got you excited about cryptocurrency and web3 in the beginning?
05:25 - On your website, you mention how “Our vision is for a world of access where finance and technology serve communities so they can fulfill their aspirations for a better life.” Can you please give listeners a high-level overview of TóróNet and your mission?
10:20 - I understand that you recently partnered with USAID and other partners to use DeFi to empower smallholder farmers through your AgriFi project. Tell me more about this.
14:05 - Crypto has often got a bad rap for its environmental impact. However, over the past couple years, the growth of the regenerative finance (ReFi) movement has proven that Web3 can be a force for building a more sustainable world. I understand that one of the projects on the TóróNet blockchain, Plastoken, aims to incentivize the collection and return on plastic waste. Tell me more about this.
21:20 - On your website, you mention how “TóróNet enables community-driven economies with the infrastructure, frameworks, and toolkits to leapfrog and create their path for development.” What role can blockchain play in supporting the development efforts of emerging economies?
25:45 - I understand that the Toronet blockchain is built on proof-of-stake and proof-of-authority mechanisms – tell me more about the protocols behind TóróNet.
31:30 - One of the biggest challenges in Web3, is creating a seamless UI/UX and onboarding experience. How does TóróNet help builders launch projects on the network? Why should they consider building on TóróNet?
36:25 - What does the future of TóróNet look like? Where do you see things 5-10 years in the future?
41:00 - What’s the best way for listeners to learn more about TóróNet?
41:45 - To wrap things up, if you could name one thing that excites you most about the social impact potential of web3, what would it be and why?
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DISCLAIMER
While we may discuss specific web3 projects or cryptocurrencies on this podcast, please do not take any of this as investment advice, and please make sure to do your own research on potential investment opportunities, or any opportunity. We host a variety of guests on this podcast with the sole purpose of highlighting the social impact use cases of this technology. That being said, Crypto Altruism does not endorse any of these projects, and we recognize that, since this is an emerging sector, some may be operating in regulatory grey areas, and as such, we cannot confirm their legality in the jurisdictions in which they operate, especially as it pertains to decentralized finance protocols. So, before getting involved with any project, it’s important that you do your own research and confirm the legality of the project. More available HERE.
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