Web 3.0 and Green Finance and Sustainability Hackathon Problem Statements

WEB 3.0

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Problem statements

Embed Blockchain

1

How can identity and KYC/AML checks conducted by financial institutions (e.g. during onboarding of new clients) be optimised using blockchain technology for easier onboarding?

2

How can blockchain technology be used to help with building a digital identity and identity management for individuals/entities?

3

How can blockchain technology and tokenisation services be used to modernise market infrastructure to support instantaneous trading, clearing and settlement (including capital markets, wealth / investment)?

4

How can tokenised collateral allow clients to price, trade and exchange collateral without settlement friction?

5

How can blockchain technology be leveraged to track/screen credit card transactions (e.g. for data/analytics, fraud management, AFC checks, etc.)?

6

How can we ensure blockchain technology landscape’s resiliency (including cybersecurity)?

7

How can we build interoperability between existing protocols or between applications within a protocol?

8

How can blockchain technology be used to democratise rewards & loyalty?

9

How can blockchain technology be used to empower payment while lowering the cost and friction (i.e. MDR etc.)?

10

How can blockchain be utilised to address markets where low latency (e.g. FX, equity trading) are required?

11

How can the economic sustainability and technical stability of individual tokens be easily modelled and assessed?

12

How can we ensure tokens are auditable and capture history from source to end user while also increasing traceability in real-time?

13

How can public-listed companies, regulator and accountants use blockchain-powered financial accounting systems to perform vetting, tracking and acceptance of financial statements (e.g. quarterly and annual statements) in order to improve transparency?

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Problem statements

Expand DeFi

14

How can we ensure the same level of accessibility and user experience of DeFi to non-tech savvy users?

15

How do we give non-tech savvy users comfort around the stability and risks of the underlying code?

16

How can we ensure unique real-world assets that are digitally represented and used as collateral are only digitised once (i.e. solve for trust at inception / reduce risk of duplication and multi-staking)?  

17

How can data privacy and fraud issues be addressed to ensure security for users (e.g. reversal of fraudulent transactions, avoidance of identity theft, etc.)?

18

How can the inherent coding/technical risks of DeFi applications (e.g. risk of code vulnerability, loopholes/bugs, etc.) be calculated, accounted for, and minimised?

19

How can we enable the Travel Rule in an efficient and scalable manner across different jurisdictions (FATF Travel Rule Recommendation 16 expects all creators and beneficiaries of digital fund transfers to exchange descriptive information such as name, account number etc.)?

20

How can disputes be managed among parties and users, particularly knowing ledgers are immutable, and as smart contracts may be prone to human error?

21

How can DeFi be used to help accelerate settlement (especially across less liquid asset classes)?

22

How can we bridge the lack of trust of an asset ownership despite having digital records without physical possession (i.e. right to issue, right to sell)?

23

How can custody solutions be improved to ensure digital assets can be easily moved around within the network (e.g. between custody providers)?

24

How can smart contracts and DeFi solve market efficiency shortcomings (i.e. price discovery and accessibility of markets)?

25

How can access to wealth and investment products be democratised through DeFi?

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Problem statements

Expand DeFi

26

How can off-ramp and on-ramp friction be reduced to increase the uptake of DeFi (i.e. off-ramp is when money is taken out of the system)?

27

How can financial Institutions s partake and segregate responsibilities and liabilities in a DAO governance orientated environment?

28

How can we set-up two-tier system of governance in FIs  (i.e. centralised rule setting and decentralised rule setting democratically done by users)?

29

As FIs hold both traditional asset and digital assets, how can FIs utilise such assets interchangeably and seamlessly (e.g. banks utilising their digital assets for collaterals)?

30

How can we efficiently and effectively asses and monitor the overall market capitalisation of digital assets that have undergone tokenisation?

GREEN FINANCE

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Problem statements

Monitor Commitment

 

 

31

How can we assess or identify carbon offsetting efforts through the use of land or land reclamation, and use that information as a factor into investment decisions?

32

How can we extend ESG and green signals coverage in small cap companies through the volunteering and gathering of information on businesses or products and structuring data inputs while still including information that proves transparency?

33

How can we overcome the lack of readily available data (e.g. clients’ carbon emissions, geographical location of assets) to facilitate capital providers’ climate risk assessment and portfolio target setting?

34

How can market participants leverage market benchmarks such as sustainability indices or risk ranking, to keep companies on track with their environmental commitments?

35

How can we bridge the gap and enable decision makers to access real-time environmental data from asset owners in order to enable effective tracking of environmental impact, progress towards achieving ESG targets and advance policy development areas such as green financing?

36

How can green projects and impacts be verified and traced (e.g. through emerging tech such as blockchain) to promote a more homogenous pricing of carbon credits?

37

How can we enable suppliers across the entire value chain to post declarations and input data easily in a cost- effective manner to ensure end-to-end transparency and traceability? Can the same solution be used to independently verify claims from suppliers to ensure accuracy and reliability?

38

How can we better measure environmental risks on the properties that are underwritten by insurers to better inform pricing and claims practices?

39

How can we use technology to offer a solution that can help provide data based on commercial clients’ payments and collections to assess how green their supply chain is (i.e. usage of ESG ratings of various companies that trade with the commercial client)?

40

How can companies use technology like IoT sensors to enable timely tracking of carbon footprint across the supply chain & measure progress towards emission targets?

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Problem statements

Monitor Commitment

 

41

How can companies gain a reliable and cost-efficient data source outlining emissions from supply chain through the use of technologies?

42

How can we create a standardised tool for companies to set their own SDG-related or other ESG impact targets and follow-up on their progress, where those targets and progress measures may also be accessed by asset managers or private equity funds interested in investing in those companies?

43

How can we design an open-source data platform that allows investors and lenders to gain access to relevant social and environmental information from corporate reporters (listed and unlisted) and other data sources (e.g. Bloomberg)?

 44

How can we track the progress of companies against their stated climate transition pathways in a trusted manner on an ongoing basis to assess how they are performing in relation to their commitment?

45

How can we use data-driven analysis to incorporate quantitative information in appraising green issuance when external records are generally qualitative in nature?

46

How can we make it easier for companies to know which disclosure reporting is required for each jurisdiction and how they could generate these disclosure reports?

47

How can we build a solution that can help conduct negative screens near real-time to monitor accumulation of sensitive exposures such as coal and tobacco for corporates, insurers and reinsurers?

48

How can we build solutions in the Green Real Estate space to indicate that the use of Green Financing, debt and working capital within the project is green?

49

How can we overcome the lack of readily available data on borrowers’ ESG-risk profile, in order to ascertain if they are green and sustainable?

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Problem statements

Measure Impact

50

How can we develop a rating tool or platform that uses credible methodologies that considers all types of ESG activities for corporates, insurers and reinsurers?

51

How can we leverage technology to create energy consumption benchmarks to rate companies on a green scale based on their size and type of business?

52

How can we simplify the costs involved in monitoring, collecting, and publishing ESG data?

53

How can we build a solution that standardises sustainability reports across regions and industries to enable investors to benchmark Small to Medium Enterprises (SMEs)?

54

How can we consolidate an ESG portfolio score for Wealth Management clients, to enable them to better understand their investment decisions and for relationship managers to suggest greener alternatives?

55

How can we effectively attribute and analyse returns and volatility of investments driven by ESG or climate and environmental decisions that have been integrated into traditional investment processes (i.e. comparison of specific dimensions between ESG/ SDG and traditional investment factors across funds when ESG/ SDG inputs are not standardised across providers)?

56

   How can we develop a tool to help individuals track and reduce their overall carbon footprint through their daily commute, consumption, and communication in a consolidated fashion?

57

How can we leverage technology to localise ESG performance benchmarking since sustainability policies and ESG scoring conducted mostly at a global level?