On April 25, 2024, Asoblockchain, the Blockchain Association of Costa Rica, in collaboration with ReFi, hosted the Cripto Cantina event at Sendero in Barrio Escalante, with a focus on Hypercerts.

ReFi Costa Rica introduced the community to “Hypercerts,” a groundbreaking tool designed to track, reward, and scale environmental and social impact. Attendees were encouraged to learn about the creation of Hypercerts, their role in retroactively funding public goods, and how they can be utilized to maximize the positive effects of such initiatives.

Hypercerts represent a new protocol aimed at funding and rewarding positive impacts through public claims on discrete pieces of work and the impacts that stem from these efforts. Projects are able to generate Hypercerts to acknowledge contributors, while funders obtain portions of these certificates and the associated rights. This allows for a dynamic funding mechanism where the impact evaluators enhance the value of projects and their funding by assessing and rating the quality of Hypercerts. The system promotes interoperability by maintaining a single, open, decentralized database for impact claims and funding.

Benefits of Hypercerts include continuous income and incentivized impact, allowing for recurring revenue streams for impactful projects and enabling funders to scale contributions based on achieved impacts. Additionally, retrospective funding mitigates risks by ensuring investments align with concrete outcomes, preventing inefficiencies like funding partially completed projects.

Stay connected and keep an eye out for our future events, as we continue to explore and engage in the dynamic world of technology!