"ReFi is regenerative finance; an economic system that grows in capacity over time and is resistant to shocks. Regenerative finance can mean regeneration of financial systems, but it can also mean the regeneration of social, material, living, intellectual, experiential, spiritual, and cultural capital as well. ReFi is the key to human flourishing in the 21st century."
Kevin Owocki, Gitcoin Co-Founder
The challenge:
Through my research, I have uncovered the multitude of challenges that our local small businesses face in today's complex environment. They are experiencing significant pressure from various factors, including rising prices, a shortage of skilled labour, changing consumer needs, and reduced economic activity. These challenges have created a perfect storm, threatening the survival and future stability of our local ecosystems.
In order for businesses to not only survive but thrive in this economic climate, it is crucial for them to adopt more sustainable organisational models. The urgent need to adapt the local business ecosystems has become evident, as traditional approaches are no longer sufficient to address the emerging challenges.
My approach:
To tackle this challenge, I have adopted a new lens of regeneration and sustainability that encompasses economic, political, and social aspects. By connecting emerging economic theories such as decentralisation, circular and doughnut economics with the world of blockchain and finance.
At the core of my approach is the focus on transactions and relationships within communities. humanising businesses by connecting with their stories, fears, and aspirations. I believe in actively listening to business owners, understanding their challenges, failures, and visions for the future of their communities.
In an effort to developing an holistic understanding needed to design targeted strategies and solutions that foster sustainability and resilience. I have conducted in-depth interviews and discussions with business owners and local organisations. This has provided valuable insights into the specific challenges faced by businesses in our local ecosystem. Additionally, I have conducted analysis and mapping of the local ecosystem, along with creating a timeline of future events expected to impact the community.
I hope to take you on this journey and share with you the challenges faced by my local community.
My project:
My project aims to develop a robust systematic approach that empowers businesses in our local area to create a regenerative and sustainable ecosystem. By leveraging innovative technologies and fostering collaboration, I hope to enable businesses to adopt environmentally-friendly practices, support each other, and enhance community engagement. Together, we can build a thriving local ecosystems where businesses flourish while prioritising social responsibility and environmental stewardship.
