At a time when new technology is transforming the world, humanity is also facing historic poverty. The combination of climate change, conflicts, COVID-19 and inflation caused the number of hungry people to more than double since 2019, and now, 345 million people are marching toward starvation. Oliver Wyman is a founding supporter of an organization that seeks to eliminate unprecedented hunger by using unprecedented technology.
The World Food Programme’s Innovation Accelerator is partnering with Global Blockchain Business Council Giving, a nonprofit association under the world’s largest industry association for blockchain technology and digital assets, in a joint initiative called Food for Crisis. The idea is to raise $1 billion to end hunger by using technology that allows a new level of transparency on how the funds are used, addressing a trust gap that inhibits donations today.
At Oliver Wyman, we believe in driving impact through the work we do. I am looking forward to building on the momentum for the initiative to bring forth solutions that address the urgent issues we face and also lead to long-term healthy futures for allChaitra Chandrasekhar, Partner, Oliver Wyman
As a founding supporter, Oliver Wyman is aiding in the creation and organization of Food for Crisis and gathering a coalition of key supporters. The organization aims to raise $100 million (in fiat, crypto, on in-kind donations) for a World Food Programme pilot fund by the end of 2024, with a moonshot target of $1 billion if the pilot succeeds.
As much as we at GBBC like to convene folks to talk about different topics, we realize we have to put things into action. We literally said to ourselves, ‘The food crisis is getting worse. What can we do? What is actually achievable, and who do we need?’ And then ideas started percolatingSandra Ro, Chief Executive Officer, Global Blockchain Business Council Giving
When we discussed the opportunity initially at the UN General Assembly, it struck me that Oliver Wyman could make a huge difference by helping to accelerate the program and get this important humanitarian initiative off the groundMichael Wagner, Partner, Oliver Wyman
Half of the money will go immediately to aid regions most in crisis, supporting an estimated 7.2 million people who face starvation, and half will be used to develop the solutions to increase trust and visibility. Data will show how much of an individual’s donation impacts someone who needs food, and how much went to administration, logistics and other operational functions. By showing donors how their money is used, the technology is expected to develop trust that can ultimately closing the funding gap the World Food Programme is facing to deliver aid to those in need.
Oliver Wyman is also bringing together thought leaders, universities, and local start-ups to help develop the solutions to hunger, creating a multiplier effect of economic development and innovation that can save lives and create a sustainable future.
Working on Food for Crisis has been incredible because of the enthusiasm we have seen from individuals across numerous leading organizations about getting personally involved with this effort. Being able to bring together so many experts who are passionate about leveraging the power of Web3 technologies to tackle the global hunger crisis was an exciting experience and inspires hope for the endless possibilities of using technology for the good of humankindNicole Walker, Associate, Oliver Wyman