IMPORTANT DEVELOPMENT - We are now an official ISV Partner of Blackbaud, working with them to bring Stellar's technology to their client base of 42,000, read more here https://blog.task.io/blackbaud-blockchain-stellar.
Thousands of organisations today have social missions where they need to get payments to people in the field, verify the work that's being done and report back to stakeholders. Task connects organisations with remote teams, tracks activity on the Stellar blockchain, processes payments between users and allows the exchange of tokens for locally relevant rewards.
The Smart Agro team also provide awards to top performing farmers. And all this data is recorded in real-time helping Smart Agro prove to the market the impact of the work they do!
Launching initiatives on Task takes minutes, with custom configuration of any activity to be tracked, easy setup of Stellar payments against activities, and Invitation of team members to join your mission. As activities are completed, there’s options for users to send each other awards in the timeline (a bit like Reddit), and Peer to Peer payments are easy.
By combining activity tracking, payments and award systems, Task uses Stellar to create economic communities.
Steve and Matt are experienced founders who passionately believe in leveraging technology to support organisations that seek positive social change. We also have great investor and advisory teams including track records in the blockchain and sustainability space:
Our clients such as EndPandemics, Freeland, ACTAsia, International Cat Care, Smart Agro and Project Rangeet address social issues such as human and wildlife trafficking reduction, provision of remote education in emerging economies and regenerative farming practises which we believe align with the ethos of the Stellar brand.
This grant will help us grow Task allowing thousands of organisations to gain access to software that accelerates their missions. 2021 is the year we start to scale our proven product in the market, and we’d love for the Stellar Development Foundation to be a part of this journey.
Task is a mobile application with a Stellar wallet embedded providing the ability to track team and community activities with flexible ramp on/off integrations. Let’s dig in to what Task enables organisations and users to do.
Connecting people through economic communities is central to what Task does. Payments can be made when an activity is completed, they can be standard user to user payments, or they can be sent as an “Award” with a message.
We believe tokens can bring communities together - whether a stablecoin, a traded coin, or a private branded token with non-financial value, these exchanges between users create a place of reward and connectivity.
Getting paid when an activity is completed has far reaching ramifications - it allows funds and grants to “drip feed” investment into projects, delivering micro-payments as work is done. Task allows optional verification of activity before payment is released to protect funds.
All the activity gathered using the Task mobile app uses a one way hashing algorithm to represent this data in the Stellar transaction memo field. It means that data gathered via Task cannot be tampered with, and it increases the data veracity of the organisations using Task to gather and prove their impact.
Let’s look at a use case . Our customer ACTAsia tracks vet activity across China, providing pain-free operations to animals. We can see:
We use the blockchain to not only provide payments, but also to build out the data story with critical proof points to see that the organisations and communities creating real impact are the ones who shine the most.
We also support the provision of donations to projects - and for donors we use the Blockchain ledger tracking to provide ongoing proof of how their funds are being used. They are able to login to the Desktop version of Task and get a transaction history of how their donation money was utilised.
Awards were mentioned earlier - but it's worth adding that these subjective Stellar payments against the activities tracked means Task can provide decision mechanisms, letting the community vote with their tokens.
As Stellar's makes it possible “to create, send, and trade digital representations of all forms of money”, Task takes these digital representations and gets it into the hands of the end users, the people who really need the money.
We localise the ramp on/off with Stellar partners - that means if you’re a farmer working in East Africa, you can join initiatives via Task that allow you to earn the TZS asset from ClickPesa using the Task mobile app, and get funds earned to your local bank fast.
Task allows any organisation leveraging Stellar to distribute their tokens using a proof of work or voting model. It means they can ask the end user to do something useful that connects with their brand, and in exchange the end user receives tokens. It facilitates Airdrops but with an improved and more focussed form of marketing, communicating more effectively the brands reasons for using Stellar.
Task provides both custodial and non-custodial wallets to end users - and with the ability to swap tokens for rewards and/or ramp on/off with other tokens and fiat, means users become part of Stellar's community in a non-technical manner.
The non-technical focus extends to user to user payments, where it’s easy to send tokens to any other user in the Task ecosystem without needing to know about public or private keys. It just works.
Task aims to replicate this with every Stellar asset provider with these types of ramp on/off services, creating communities that experience Stellars vision of a “decentralized system that’s great for trading any kind of money in a transparent and efficient way”.
The following is the current development status of how Task uses Stellar, future roadmap details are provided later on. In summary, Task uses Stellar to:
During 2019 we used seed funds to build the Task platform before onboarding a number of pilot clients to test the technology and better understand the issues we address as well as which industry verticals we are most likely to have success.
We now have over 11 paying customers, including new clients who are referrals from our existing client base, showing proof we are addressing pain points. Existing clients are in the non profit and education sectors.
We have a solid sales pipeline - the majority of prospects are in the non profit and education sectors though we also have a number of for profit prospects who have the same requirements in terms of tracking and reporting on social impact activities - these include Xero, HH Global, and Standard Chartered.
We have already completed integration with Klipfolio as a analytics partner, and are in the process of integrating with Blackbaud, the global market leader powering social good. Future growth will come from partner networks including Referral partners who have relationships in the customer verticals we are selling into and also Strategic & Technical partners who use Task to service their own clients - these include some of the big four, specifically KPMG and Deloitte.
We believe Task will be growing into the Fintech space in 2021, and our current customers show a pattern of connecting communities with localized payments and reward systems for social impact outcomes. Some current customer examples:
Task provides the Stellar Community Fund with an exciting opportunity to support an organisation that propels Stellar's technology into the hands of large organisations and end users. The hard work of initial product development and securing first paying customers has been done, and product market fit has been established.
We have a strong team, we've built the fundamentals of a great business, and we hope you join us on our journey of scaling Task in 2021.
* The amounts shown are budget requests and not (yet) granted to the projects. During the Community Vote phase, voters can indicate whether the project deserves the amount it's asking for (budget request). The total pool of XLM available for SCF#11 is 8M XLM. SDF will allocate the XLM equivalent of the specified USD budget of the submissions with the most votes in descending order of rank until the earlier of (i) the XLM Pool is fully distributed (ii) there is not sufficient XLM remaining in the XLM pool to fully fund the next ranked submission or (iii) there are no remaining eligible submissions. The USD valuation of the budget request in XLM will be calculated using the CF Stellar Lumens-Dollar Settlement Price on December 5, 2022 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR). Learn more in the SCF Handbook.
*The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on July 5th as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
**The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on December 16, 2021 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
*The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on September 27, 2021 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
* The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on the date of transfer as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)