THE VIRTUAL COMMONWEALTH 1.0:
A STEP-BY-STEP GUIDE
The VCW platform allows members to offset their unsustainable purchases through a series of externalities taxes – that money is then used to crowdfund sustainable companies in which VCW Members become equity partners.
STEP ONE
Members create a VCW account by using a payment method (debit or credit card).
Member purchases are imported into the VCW platform using PLAID, an industry-standard software application used by a number of major platforms, including Venmo and Robinhood.
Member transaction are then categorized using proprietary technology that uses 30+ data sources to rate 18k+ Brands on their sustainability and social equity profiles.
VCW Members can also choose to manually rate their purchases for additional offsets.
STEP TWO
STEP THREE
Once VCW Member transactions are rated, the VCW applies the appropriate offset (self-tax).
There are currently five transaction categories:
Food/Beverage
Transportation/Utilities
Apparel
Personal/Home Care
Furniture and Electronics
An offset incurred in any category corresponds to an investment in the same category.
In this example, there is a 35 cent tax generated by the purchase of conventionally-grown coffee in a single-use cup.
When the member releases the offset for investment, it goes into the Food/Beverage fund category for sustainable businesses. In this case, to Misfits Market, which sells organic produce with minor aesthetic flaws that would typically be thrown out and wasted at a grocery store.
