Extending the Web3 promise of transparency and immutability to the entire impact accounting process.
While many well-intentioned project developers are turning to Web3 technology, such as blockchain, to increase public transparency of their monitoring, reporting and verification processes, their use thereof often covers their activities and processes only partially. In many cases critical data events, such as data cleaning, aggregation and transformation, still occur off-chain – i.e., on platforms and via media (such as spreadsheets) not easily accessible to and verifiable by the public. Handling these events off-chain is generally not due to a lack of intent to do otherwise, but because the technology required to handle them on-chain is not yet available, or is too expensive, or does not fit a project’s context-specific monitoring setup, or requires expert technical skills. This means that “pre-chain” data manipulation remains as one of the oldest and easiest avenues of fraud for dishonest actors.
Enter Jellyfish. Our services address the data transfers, transformations and aggregation that happen between source and reporting. We bring those events into the Web3 realm, making them transparent, reproducible and publicly verifiable. By building on the Hedera network and employing its ecosystem tools Jellyfish is able to provide these critical data lineage services to impact accounting projects, tailored to their specific monitoring setups and accounting methodologies, yet at low, pay-as-you-go costs.