Impact Score Calculation
How is impact score calculated?
Data Sources
Our Impact Score is shaped by two primary data sources: resource contributions and impact results, the latter being strengthened through incorporating Impact-Weighted Accounts. Resource contributions include the time and money invested in impact projects. The value of time is calculated considering the nature of the work, the individual’s experience level, and location, with additional recognition for pro bono or discounted rate efforts. Financial contributions, such as donations and responsible investments, are also pivotal. These transactions are facilitated and recorded through Socious’ native app, with all data securely stored on-chain.
To measure impact results, we are adopting Impact-Weighted Accounts methodology us to accurately quantify the tangible impact of resource contributions. This includes achievements such as providing access to education, access to health services, reducing CO2 emissions, and more. By employing this dual-data-source approach, we can minimize risks, maximize opportunities, and achieve significant, long-lasting change.
How can an individual earn impact points?
Impact points are earned by contributing your resources, specifically time and money, to social causes.
Regarding time contribution, there are several ways to contribute:
Use Socious to contribute your time to social causes by securing an impactful job, including volunteer positions.
Contribute your time to social causes outside of the Socious platform, obtain work certificates as verifiable credentials, and have them recognized on Socious.
Participate in dispute resolution, content moderation, and organization verification as a contributor on Socious.
Refer friends or organizations to Socious.
When it comes to monetary contributions, you have several options:
Donation
Impact Lending
Impact Investing
Ethical/Sustainable Consumption
Calculation
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