Name of Project: Sea Shanties
Proposal Wallet Address
The Shanties project is a continuation of the work we started with Ocean over two years ago now, and that is to surface data insights for sustainability. Our startup Peniel Impact has a mandate, and that is to accelerate the acceleration of data insights for sustainability. Our work covers all the Sustainable Development Goals (SDG’s) by the United Nations while also cutting across all the corporate function within the respective enterprises.
With this project, we hope to accelerate the translation of Oceans technology to our curated list of communities and partners to increase the volume and quality of ESG datasets.
Peniel Impact started project Shanties to accelerate the sustainability datasets in the Ocean marketplace both in volume and quality.
Thanks to the 2019 Data Economy Challenge, the Ocean marketplace saw its debut into sustainability datasets contributed by various community members, mostly commons datasets were published.
The subsequent accelerator has been COVID-19, noted in improved sharing of healthcare data by orders of magnitude. This acceleration is evident in the vaccine development process, which has seen a 10-15 year process reduced to 10 months.
ESG investing is becoming mainstream, thanks to commitments by global asset managers like BlackRock. With that noted, we see the Ocean Protocol technology playing a critical role in accelerating data sharing in the industry.
Worth noting is that Ocean itself is no stranger to the industry, having worked alongside reputable companies like the XPRIZE Foundation and AI for Good Global Summit just last year. The collaboration with XPRIZE saw the creation of a Data Collaborative Marketplace tasked with the acceleration of data sharing for COVID-19, and numerous other initiatives, including Oceans, own COVID-19’s response projects. All of this activity reflects Ocean’s position within this nascent and niche market, which is nothing short of positive in our view.
Problem & Opportunity
The latest survey by BlackRock titled: Sustainability goes mainstream - 2020 Global Sustainable Investing notes the following trends;
The two social themes emerging on investor interests are ( Good Health & Wellbeing, Sustainable Cities & Communities).
That investors are looking at doubling their Sustainability AUM.
And that data is key to their success.
From the insights noted above, it is clear that sustainability enterprises partnering for the above goals can accelerate social impact with the adequate data, insights, and tools.
Peniel Impact exists at the intersection of sustainability and technology, with the objective being, to accelerate the already accelerating data insights in the sustainability markets. The Shanties project is a foundation and a critical component supporting that purpose and seeks to glue Ocean and Peniel Impact towards sustainability data insights.
At Peniel, we acknowledge our strides towards market positioning and improved understanding of our client’s challenges. We have clarity on how Shanties helps build a strong link between ourselves and Ocean as our technical partner for sustainability data marketplace.
The Shanties Project will work across the following translation segments, and that is;
Awareness & Training
Curation & Advisory
Storage and Compute
- Brief Overview
Shanties as a project will grow beyond the current trends as noted above from the BlackRock survey to incorporate all SDGs. However, the mentioned trends will help us improve our focus in light of our limited resources.
Just a quick refresher on SGDs, the goals cover the following themes: Shelter, Space, Health, Energy, Water, Security, Environment, Food, Disaster, Government, Learning, Prosperity.
We have noted the following technologies as our primary sources of the datasets: Cloud Computing, Biotechnology, Blockchain, Remote Sensing, Data Science, Unmanned Arial Vehicles, XR, Additive Manufacturing and Robotics.
At Peniel Impact we support sustainability industry with data translation service, and we cover the following corporate functions: Finance, Legal, Operations, Sales, Marketing, R&D, Governance, Human Capital Management, Strategy, Management Reporting, Impact Measurement & Reporting, SCM & Logistics, Customer Experience, Data Science & Compute.
- Sustainability Program for 2021
With our Sustainability Program for 2021 completing the review process, we are happy to share the following areas which we hope to cover. This program was made possible by our strategic partners to whom we are exceptionally grateful.
- Enterprise Function Program
For the next five years, our program emphasises the volume and quality of sustainability datasets covering the corporate functions as noted below, as we continue to search for strategic partners in this regard. We follow the precedence from the foundation already laid out for us through the dexFreight project.
- Market positioning
As we have already noted above, our market positioning exercise is well underway, and to-date we are genuinely grateful for our strategic partners. They have helped us achieve that goal. We continue to engage with various other community leaders to enrich data diversity, and we hope to also receive feedback from the Ocean team.
Please visit our atrium for projects details: https://framevr.io/peniel
- Stakeholder Engagement
Since inception, we have dedicated a considerable amount of resources engaging our stakeholders every step of the way. We are fortunate that a majority of the stakeholders have a global perspective and reach, which has enabled us a much broader industry perspective. We view this exercise as critical to our success, and we hope to continue investing as such for the success of the Shanties project.
- Legal Implications
At Shanties, we have high respect for data privacy and the legal framework around data, including GDPR. We continue to learn about data privacy risks and how to build adequate internal controls to address them. Some internal controls measures will require us to spend money, and we have to be ready when that time comes.
R&D work is an ongoing process and informs our product development and market positioning strategies. To maintain a lead in the sustainability data Shanties Project will eventually require additional resources in Data Science.
As part of our governance strategy for the project, we hope to report to the Ocean Core team at least administratively quarterly, as a measure of progress towards our program. However, due to the project’s nature and the potential technical challenges anticipated, we should expect more frequent functional reporting.
- Human Capital Management
We plan to hire another Analytics Translators as the project ramps up, the details of which shall be available closer to the time.
- Impact Measurement & Reporting
At Peniel Impact, we have always maintained that we should be measured by how much we have accelerated data insights within the sustainability markets. The same goes for the Shanties Project. We shall therefore rely on existing tools like the IRIS+ and the SASB matrix. Our impact measurement reporting will form part of the quarterly administrative processes, highlighting new datasets listings and their quality.
- Customer Experience
Our interest in customer experience echoes our vision, to create a “Vulcan” for sustainability data insights. The Shanties Project Team is tireless in their pursuit of understanding what delights our customers and stakeholders. To live by that promise daily, we have to pay attention to how our clients experience our brands. Shanties seek to increase the investments made in how our clients ultimately experience the project and the brands driving it, as we strive to put our clients at the centre of the project.
- Data Storage & Compute
Once Shanties has acquired access to the data, either through purchase, an exchange or compute-to-data, then storage and compute is the next step. Some of the project funds will go a long way in ensuring we keep the promises we make to our clients, which is to deliver data insights. Shanties will therefore provide an additional baseline to supplement our storage and computing credits.
- Ocean Technical Support
Shanties will require technical re-enforcement a lot more frequent initially, and that is a fact. The funding shall, therefore, also help us cover some of these ad-hoc technical expenses.
The Shanties Project will work across the following translation segments, and that is;
- Awareness & Training
The project acknowledges the various ongoing initiatives carried out under the Ocean Ambassador role and seek to build on that work under the awareness phase. Awareness on the importance of data insights is also part of the exercise. Our training and awareness activities will also collaborate with the Ocean Academy. The purpose of this exercise is predominantly for the creation of market forces.
Output: online stakeholder engagement and training through the following mediums: webinars, sponsorships, newsletters, conferences, e-learning
- Market Creation
Market creation happens when; supply meets demand, value exchanges, and barriers removed. Once the data supply is enhanced, and there is a demand for data insights, we should point to a functional market.
Output: industry-specific use-cases, demonstrations of completed projects.
- Data Storage, Cleaning and Compute
Output: secured storage, proprietary data, high-quality data, data visualisations, computation.
- Curation & Advisory
A functioning market will be evident in the curated data and uptake in translation services, including subsequent growth of the industry.
Output: analytics translation services, a benchmarking platform, an increase in the number of translators using the Ocean platform.
Financial Reporting for Data Economy Challenge 2019 Rewards