Empowa - first RealFi affordable housing pilot project supported by Cardano Community
With the funding of the Empowa proposal through the Cardano Catalyst initiative, Cardano and Empowa will lay the foundation to tackle the trillion dollar finance gap and viable decentralised market for affordable and environmentally friendly housing in Africa. Empowa will build in line with international IFC green certification standards, EDGE. This may well be the start of a whole new era in blockchain and crypto, showing the full potential of the blockchain and the RealFi movement to build a better future in Africa through decentralised finance.
“Many assume that the backlog of over 50 million homes is caused by poverty, but it is not. It is because of structural issues that can be significantly improved or removed by new thinking and new technology.” Glen Jordan, co-founder Empowa (empowa.io)
Cardano is the third-largest cryptocurrency by market value and prides itself on being community-driven and focused on enabling real-world impact; RealFi. Furthermore, Cardano has a strong focus on Africa, driven by its tremendous potential for growth, its young population and as an emerging continent. Cardano established the Catalyst Project to fund and support innovation on Cardano. The projects selected are voted for by the Cardano community, and the Empowa RealFi project was selected for funding due to the real-world potential for such innovation.
The funding awarded to the Empowa Platform will enable a proof of concept to build three starter homes in line with international green building standards EDGE. This will enable putting the certification standards in a blockchain construction for the Platform, while at the same time testing its viability in Mozambique at all three stages for IFC green building certification; certified, advanced and zero carbon. About | EDGE Buildings. When asked why Empowa turned to the blockchain for a building project, Glen pointed out that the traditional approach just does not work — proven by the backlog of over 50 million homes in Africa. In a young continent, with a growing and urbanising population, demand and opportunity are constantly growing. A new approach is needed to capitalise on this potential, which can be a win for African communities (People), the environment (Planet), and investors (Profit) through the Empowa Property Portfolio Platform..
Impact investing had long been the domain of governments, banks and philanthropists. But Empowa is showing that the future is in the blockchain, NFTs and ISPOs. When asked what this meant for Empowa and the Cardano community more broadly’, Empowa co-founder Glen Jordan responded: “Many view those in the crypto community as being solely focused on profit, but this decision by the community to finance a project that has the expressed intention to do well by doing good, shows that investors in the space are taking a more holistic approach, with a win in all Ps”.
Join our Journey, visit empowa.io/token to read about our plans to expand the project through an ISPO.