Residents of Manila will start receiving ETH as bounty for participating in the cleanup of heavily polluted beaches in the Philippines.
Residents of Manila who participate in cleaning up heavily polluted beaches in the Philippines will soon start receiving Ethereum (ETH) as payment for their service. The payment will be done through an ETH-based decentralized application (dApp), according to a tweet made by Joseph Lupin, Co-founder of Ethereum and CEO of ConsenSys.
The Philippines – A Great Place for Crypto Startups
Bounty has been pointed out as a good application of blockchain technology, allowing participants to be compensated transparently with the use of a blockchain public ledger.
ConsenSys Impact, a branch of the New York-based ConsenSys has introduced a non-profit initiative called “Bounties for the Oceans.” It asks people everywhere to submit verifiable proof of their direct plastic cleanup contributions.
The Philippines recently reopened Boracay after the island suffered from heavy pollution. The Philippines is seen as an ideal country for a nonprofit blockchain-based initiative, given that the island nation has accepted cryptocurrencies like Bitcoin as legal tender and the central bank has also officially recognized Bitcoin as a remittance method.
The use of Bitcoin and other cryptocurrencies like Ethereum in the Philippines is on the rise, partly due to local platforms such as Coins.ph. Over the years, Coins.ph has provided important liquidity to local users through partnerships with top commercial banks and remittance outlets. It has also made it possible for cryptocurrency users to deposit and withdraw digital assets from tens of thousands of physical locations.
Coins.ph is the biggest cryptocurrency platform in Southeast Asia and has over 5 million active users.
A large number of companies, including Consensys, are working with cryptocurrency ventures in the Philippines to help the local market sustain its growth rate.
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