The Big Issue is embracing blockchain, as it partners in new initiative
A new blockchain platform, in which The Big Issue is partnering, is arriving with a view of pushing ‘impact investing’…
The Big Issue magazine already does an enormous amount of work to help get homeless people off the streets, through its long-running magazine. But over the years, it’s also embraced plenty of other ideas to try and bolster its work.
The latest? It’s teamed up with a trio of companies – Columbia Threadneedle, AllianceBernstein and Aberdeen Standard Investments (ASI) – to form The Big Exchange. This is a brand new blockchain-powered platform, with the aim being to promote what’s described as ‘impact investing’.
The Big Exchange fund already has some $1.3m in its coffers thanks to investment from its founding companies. It’s now looking to attract further investors, and the money will go into environmental and social impact funds.
Financial services are set to be made available to the public too, with the price of entry in the long term aiming to drop to the same cost as a copy of the magazine (£2.50). It’ll be higher in the first instance though.
Campbell Fleming, the global head of the ASI, said that “change in the way the UK invests is long overdue. Low cost, well-managed impact funds can help people do better with their savings, while doing good for society and the planet without sacrificing financial returns. That is why we are launching The Big Exchange”.
Funds will be used to support sustainable development goals, as well as educational work. The new platform is currently in its testing phase, with an aim of a public launch early in 2019.