The goal of impak Finance is clear: to encourage consumers to rethink their relationship with money in order to repair the economy and the planet. The impact economy is gaining in popularity, as the figures show. It is estimated that this sector of the economy will reach $1 trillion by 2020. An increasing number of people, especially millennials, are seeking to take charge of their impact by consuming responsibly. They are aware of the effects of their money on their community and the planet.
The impak Coin (MPK) isn’t a cryptocurrency like any other. First and foremost, it is an investment in the impact economy. It is a project that brings together those who want to change capitalism from within to make it sustainable. Its issuance was authorized by Canadian regulatory authorities well before other countries decided to regulate the framework for ICOs. The MPK has therefore been structured as a "Stable Coin" and will only be exchanged on the impak platform. An independent governance body will adjust the price of the MPK according to economic activity in the impak ecosystem. In order to do things with transparency and rigour for our investors, the impak team undertook a dialogue from the outset with the Autorité des marchés financiers (AMF) of Quebec.
impak Finance demonstrated in 2017 that there was a community of people ready to adopt the MPK. During the 2017 ICO, which was carried out in accordance with the rules, 1.5 M$ CAD was raised, from 2300 people in 89 countries. A great success although, unlike other ICOs at the time, impak Finance's ICO required its participants to meet strict conditions regarding identity verification (KYC) and investment convenience, which considerably reduced the number of participants.
The MPK will serve as a reward point within our ecosystem: the impak Finance marketplace dedicated to impact businesses. Each purchase made at an impact business will generate a reward of up to 5% for the consumer. MPKs will circulate as a currency within this ecosystem in the same way a traditional currency would. As reward programs have proven their worth, impak will offer one that is entirely dedicated to the impact economy.
Thus, through its characteristics as a cryptocurrency dedicated to impact and as a reward point for purchases from impact businesses, the MPK raises awareness of the true power of money. More than 67% of the contributors to the 2017 ICO had never purchased cryptocurrency before. The urgency to act and our ethical and transparent approach were sufficient to encourage them to overcome their fears about traditional cryptocurrencies.
The MPK isn’t an investment like any other. Through the purchase of the MPK, impak Finance mobilizes its community to reconsider its relationship to money and take charge of its impact.