impactMarket (old) PACT Price

What is impactMarket (old) (PACT)?

impactMarket (old), often referred to as PACT, is a decentralized platform focused on providing universal basic income (UBI) solutions through blockchain technology. Launched in early 2021, impactMarket aims to combat poverty by enabling direct financial assistance to underserved communities globally. The platform leverages the transparency and security of blockchain to ensure that funds are distributed efficiently and effectively to those in need. As of 2024, impactMarket has facilitated the distribution of over $5 million in UBI to various communities across multiple countries.

Who are the Founders of impactMarket (old)?

The founding team of impactMarket includes several prominent figures in the blockchain and social impact sectors. Key founders include:

• Luiz S. D. Lima - A blockchain enthusiast with a background in social entrepreneurship.
• Felipe C. de Lima - An expert in decentralized finance (DeFi) and community-driven projects.
• Marcelo D. Silva - A tech entrepreneur with experience in scaling digital solutions for social good.

Together, they have combined their expertise to create a platform that not only supports financial inclusion but also promotes sustainable development initiatives.

How does impactMarket (old) Work?

impactMarket operates on a decentralized model, utilizing blockchain technology to facilitate the distribution of funds. Here’s how it works:

1. Community Selection: Local communities are selected based on need and potential for impact. These communities are often linked with local NGOs and social enterprises.
2. Funding Pool: impactMarket creates a funding pool by collecting donations from individuals and organizations interested in supporting UBI initiatives.
3. Tokenization: The platform issues its native token, PACT, which is used within the ecosystem for transactions and rewards. Users can earn PACT by participating in the platform's activities.
4. Distribution Mechanism: Funds are distributed directly to beneficiaries through their digital wallets, ensuring low transaction fees and immediate access to funds.
5. Impact Tracking: The platform employs smart contracts to track the impact of disbursed funds, allowing for transparency and accountability.

Top Use Cases of impactMarket (old)

impactMarket has several notable use cases that demonstrate its effectiveness in addressing poverty and enhancing community well-being:

• Universal Basic Income: Direct cash transfers to individuals in need, providing them with a stable source of income to cover basic needs.
• Emergency Aid: Rapid response funding during natural disasters or economic crises to support affected communities.
• Social Enterprise Support: Funding for local businesses that create jobs and stimulate economic growth within communities.
• Educational Initiatives: Financial support for educational programs that empower individuals through skill development and training.
• Health and Wellness Programs: Funding for community health initiatives, ensuring access to essential medical services and resources.

How to Keep your impactMarket (old) Safe?

Ensuring the safety of your impactMarket holdings involves several best practices:

• Secure Wallets: Always store your PACT tokens in a secure wallet that you control. Consider using hardware wallets for added security.
• Enable Two-Factor Authentication: Use two-factor authentication (2FA) on your accounts to add an extra layer of protection.
• Be Cautious with Links: Avoid clicking on suspicious links or emails that may lead to phishing attempts.
• Regular Updates: Keep your software and wallets updated to protect against vulnerabilities.
• Community Engagement: Stay engaged with the impactMarket community for updates on security practices and potential risks.

By following these guidelines, users can enhance the security of their assets on the impactMarket platform.