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Today, Gitcoin is proud to announce a year-long collaboration with Shell Global Solutions International BV to support the development of open-source climate solutions. Gitcoin believes in blockchain’s potential to address global coordination problems, and the energy transition is an enormous challenge that can only be tackled through a collaborative effort.
Public goods in the form of open-source software for climate solutions are a key factor in enabling this collaboration. Blockchain, with its potential to solve intricate coordination issues, is particularly suited to the energy industry, providing innovative ways to incentivize the adoption of renewable energy sources, as well as transparency and verifiability for carbon markets.
The collaboration will include a donation to the Gitcoin matching fund for the next four Climate Solutions rounds in the Gitcoin Grants Program, and a hackathon in Q4 of this year, focused on blockchain-related energy use cases. The Gitcoin Grants Program is a quarterly initiative that uses Quadratic Funding to distribute resources in a way aligned with community needs as determined by communities themselves. You can learn more about Gitcoin and Quadratic Funding here.
“We’re excited to announce this collaboration with Shell as another key example of the real-life potential to scale transparent funding allocation via blockchain technology for real-world solutions.” - Azeem Khan, Gitcoin Head of Impact.
Shell is committed to contributing towards sustainable development in its business processes and decision making. Working with Gitcoin is another step in the organization’s aim to provide more sustainable and cleaner energy solutions in a responsible manner – in a way that balances short- and long-term interests, and that integrates economic, environmental, and social considerations.
“Working with Gitcoin is a great way to discover and support cutting edge projects from all around the world and to leverage innovative funding mechanisms to harness the wisdom of the crowd." Said representative Vikram Seth, Blockchain & Web3 Manager.
Gitcoin creates solutions that empower communities to fund, build and protect what matters.Through the Gitcoin Grants Program, over $50m has been distributed to early stage builders championing projects across DeFi, Climate, Open Source and beyond. Gitcoin’s core products include Gitcoin Grants Stack, an end-to-end grants solution, Allo Protocol, an open-source funding protocol, and Gitcoin Passport, a decentralized identity management tool.