'eToro' company aims to give Universal Basic Income (UBI) to registered member of its GoodDollar cryptocurrency project

  • What is GoodDollar?
  • How to use G$
  • GoodDollar referral program

GoodDollar is a non-profit organization on a mission to leverage new blockchain technology to deliver a scalable, sustainable model to deliver basic income.

GoodDollar is founded by Yoni Assia, the co-founder and CEO of eToro. It aims to provide a digital form of Universal Basic Income (UBI) to anyone that signed up worldwide by issuing a stablecoin named G$.

GoodDollar just like many other cryptocurrencies project is built using public blockchains to create and distribute its global basic income system. It operates on the Ethereum main net and Fuse.io, an Ethereum side-chain.

G$ is a crypto asset that adheres to the ERC-20 token standard. If you need more details on that, go through it on white paper.

This project was launched on September 7st 2020 and the organization has released several beta wallets with demo "play tokens" before this date.

How to use G$

According to GoodDollar, it is a currency that goes directly into the hands of people (no banks or other governing middleman mechanisms). It is intended to drive economic activity in a bottom-up way.

G$ usage was test run in a peer-to-peer marketplace context with 500 eToro employees in Israel at the turn of the year. The beta began by allowing eToro employees to log in and claim demo G$; after enough employees acquired enough demo G$, they used their G$ to conduct peer-to-peer commerce and standardize barter, buying and selling homemade birthday cake, vegetables from the garden, used iPhones etc.

GoodDollar referral program

eToro, an Israeli social trading and multi-asset brokerage company, one of the world's leading social trading platforms has announced that its funding rewards for the next one million users of its GoodDollar project following the launch of a new referral program.

Users will receive a bonus of 100G$ for each new invite that is signed up. New users are set to benefit too and receive a welcome bonus of 50G$ once registration is completed.

A lot of companies have been attempting different innovations of blockchain technology to carry out Universal Basic Income with the likes of Zeropoverty, Circles, Myubi, Inksnation and Basic Income Earth Network. All are experimenting with the crypto-centric basic income.

Have you signed up for GoodDollar? What is your take on the project, leave your comment.

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