Global studies have shown that stakeholder buy-in is the number one success factor in marine conservation, but too often coastal communities lack incentives to support conservation initiatives. Ocean Eye is a fintech solution for the tourism sector that facilitates micro payments by marine tourists towards coastal communities based on wildlife sightings. In other words, Ocean Eye is a data collection and financial transfer platform that collects wildlife sighting data and transfers ecosystem service payments. The animal sighting reports are directly linked to small payments from tourists that go to coastal communities and incentivize the protection of endangered and vulnerable species. The mechanism creates incentives for communities to reduce harm to nature and become conservation allies.
CFA Incubator Webinar: Ocean Eye