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

The Impact Score is derived from the data layer explained above. The various activities and data points will be converted into Impact Points/Dollars, using our algorithm that offers multipliers based on the actual real world impact of each activity in question. For each user, the total amount of impact dollars that has been accrued will then be subjected to a number of additional adjustments, based on the users conduct, and then balanced to give an even distribution of scores across the ecosystem. In recognition of conventional credit systems, the final value will be adjusted to fit a scale ranging from 300 - 850, with higher ratings indicating a higher level of impact. These scores will then be displayed on the platform and made available through a number of channels to third parties such as ethical product vendors and lenders. The data will also be leveraged to gain insight into the community and to offer custom data products to our clients. Please see the details of the impact score calculation method here.