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12/09/2023 18:15

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RNS Number : 2076M  Global Blockchain Business Council   12 September 2023

UN World Food Programme Innovation Accelerator and Global Blockchain Business
Council Launch Initiative to Combat Global Hunger Using Blockchain Technology

Initiative Is Joined by Major Market Participants Like Accenture, Bayer, and
Oliver Wyman; Sets Goal of $1B in Funding

NEW YORK, NY / ACCESSWIRE / September 12, 2023 / The United Nations (UN)
World Food Programme (WFP) Innovation Accelerator and Global Blockchain
Business Council (GBBC) have signed a Memorandum of Understanding (MOU) as
founding partners for their joint initiative, Food for Crisis. This initiative
is supported by key organizations, including: Accenture, Bayer, Filecoin
Foundation, Fleming Petenko Law, Netlight, Oliver Wyman, and Steptoe &
Johnson LLP. Conceived at GBBC's Blockchain Central alongside the United
Nations General Assembly (UNGA) in September 2022, Food for Crisis aims to
raise, track, and trace donor funds, utilizing Web3 technologies to drive
innovation addressing the worsening global hunger crisis. Leveraging the power
of blockchain technology to improve the delivery of humanitarian support, Food
for Crisis will support a more sustainable future through innovation.

Related Image
(https://cdn.newswire.com/files/x/28/ab/db24e65fd7a13b4ca28439c50956.png)

Food for Crisis 9.12

UN World Food Programme Innovation Accelerator, GBBC Launch Initiative to
Combat Global Hunger Using Blockchain Technology

Communities across the world have been devastated by the global food crisis
due to the combined effects of ongoing conflicts, economic shocks, and climate
extremes, contributing to disruptions in supply chains and soaring fertilizer
prices. According to the 2023 State of Food Security (SOFI) report
(https://pr.report/QFrt8yHq) , as many as 783 million people did not know
where their next meal would come from. A record number of over 345 million
people across 79 countries are facing acute food insecurity. This is an
increase of almost 200 million since early 2020 (pre-COVID-19 levels).

Food for Crisis aims to increase awareness of the global food crisis and raise
funds to urgently mobilize resources to end hunger at scale. A pilot fund of
USD 100 million in donations (in fiat, crypto, or donations in-kind) is the
initial goal, with a moonshot target of USD 1 billion. Funds will be
distributed to the humanitarian sector for emergency relief operations and the
development of innovative and sustainable solutions to help disrupt global
hunger.

The WFP Innovation Accelerator and GBBC Giving, GBBC's c3 charitable arm, are
working together with the supporting organizations within Food for Crisis to
develop a blockchain-based solution to provide an additional level of trust
and transparency regarding funds donated for humanitarian aid. The technology
will continue to be developed, with a pilot planned for 2024, in countries
facing severe food insecurity in need of intensive support amid limited
funding.

Bernhard Kowatsch, Head of WFP Innovation Accelerator, says, "345 million
people are acutely hungry, on the brink of starvation. I believe that
innovative solutions, like Food for Crisis, can attract more donors by raising
awareness about hunger, ensuring efficiency and transparent results while
empowering individuals with choices. WFP already uses blockchain to enhance
collaboration, efficiency, and transparency on cash transfers, digitize
smallholder farmer transactions, and provide insurance to farmers. The Food
for Crisis initiative seeks to harness this technology for both immediate
emergency relief and sustainable innovative solutions."

Sandra Ro, CEO, GBBC, says, "It is a great honor and privilege for GBBC to
partner with Nobel Peace Prize winner WFP on Food for Crisis. We believe
technology tools including blockchain and digital assets can be utilized to
serve the most vulnerable people and accelerate solutions to some of
humanity's most pressing and large-scale problems: acute hunger and
malnutrition. We can achieve SDG 2, Zero Hunger, together."

For more information and to learn how to get involved,
visit gbbcouncil.org/initiatives/giving (https://pr.report/KbiJSvAR) .

###

About the World Food Programme (WFP) Innovation Accelerator
(https://pr.report/9AyD6gKl)

About Global Blockchain Business Council (GBBC) (https://pr.report/9JxQ1HyD)

Contact Information

Summer Singh

Director Communications and Policy, Americas, GBBC
summer.singh@gbbcouncil.org (mailto:summer.singh@gbbcouncil.org)

(202) 500-7513

SOURCE: Global Blockchain Business Council (GBBC)

 

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