FAQ

General & Privacy

Q: What is GoodDollar?
A:

GoodDollar is a non-profit, social innovation initiative that is determined to create a sustainable and scalable framework for generating and distributing universal basic income through leveraging new digital asset technologies. The initial funds were provided by eToro, GoodDollar’s corporate sponsor. GoodDollar vision is based on Yoni Assia’s 2008 pieces Spread The Wealth – The “Good Dollar” and Good Dollar – The Visible Hand.

Q: What are G$ digital coins?
A:

G$ digital coins are the cryptocurrency that powers the GoodDollar economy. In the GoodDollar economy, Claimers claim G$ digital coins, and Supporters receive interest in G$ coins for their committed capital. See more about how G$ are minted here: embed link to G$ Economic model vid

Q: I am having issues with my GoodDollar app - where can I get support?
A:

For help and common questions using GoodDollar, please access our Support portal for user guides and frequently asked wallet questions.

 

If you require additional assistance, support requests can be emailed to [email protected]

Q: What blockchain is GoodDollar built on?
A:

The GoodDollar protocol and G$ token currently scheduled to be launched on the Ethereum blockchain and conform to the ERC-20 standard. For increased speed and lower transaction fees between people, it is operated on an Ethereum side chain, called Fuse.

Q: When is the GoodDollar live launch?
A:

The live beta-launch of GoodDollar is scheduled to take place in the fall of 2020. The beta launch will include the launch of the GoodDollar protocol and currency.  While we’re working hard on the beta version, we urge you to send us feedback on our demo release wallet experience.

Q: How does GoodDollar confirm my identity?
A:

GoodDollor aims to deliver a framework for Universal Basic Income. Universal meaning, equal. Each person is entitled by default. To reduce the likelihood of bots, double accounts, abuse and spam, we believe it is critical to confirm that each user on the GoodDollar network is a live and unique human being.

 

We work with a 3rd-party partner (ZoOm 3D FaceMap) (“FaceTec”), to conduct a face-map scan of each user’s face. This data is only used to verify that the user is not creating multiple profiles or other fraudulent activity which is designed to allow them access to additional tokens. The biometric data is anonymized and is encrypted. This database is controlled by GoodDollar. During the demo phase will be using an Test API developed by FaceTec which will process and store the information.If you want to learn more about FaceTec privacy policy please visit:  https://dev.zoomlogin.com/policies/privacy_sdk.html

If you want to learn more about biometric liveness tests please visit: https://liveness.com/

 

GoodDollar requires a consent from the user for storage or usage of the data. The user is able to request deletion of the data collected by written request.

Q: What about my private information?
A:

We believe that it is important to protect your data privacy. Your personal data is collected, processed and stored lawfully and transparently by us, and meets international standards, including GDPR.

 

The GoodDollar app is a blockchain wallet that is secured by your private key, of which only you have access to. In case of account recovery, you will be provided with a secure access code that ensures you can recover your account while your private key remains secure. 

 

GoodDollar operates on the Fuse blockchain, which transparently presents all transactions in a way that is trackable and fully auditable.

 

The topic of how we balance identity and privacy is at the top of of our minds – here is a note from our Technical lead that expands on how we think about it. 

 You can access our complete Privacy Policy here.

Q: How is value for GoodDollar coins created?
A:

Great question! We explain how value is generated for GoodDollar G$ coins in this video. 

 

If you are participating in the GoodDollar demo, you must note that demo G$ coins collected as part of the demo have no monetary value and cannot be exchanged for fiat currencies, cryptocurrencies, and / or goods and services. 

The purpose of GoodDollar demo is to increase market awareness and quality assurance. You shall not attach any value to G$ demo coins and you are prohibited from using G$ demo coins for any purposes other than to access and use the GoodDollar’s demo-test software.  Our Demo Agreement provides more information.

Q: Who can sign up for GoodDollar?
A:

If you are a real, unique person who lives in the countries where we operate, you can sign up and participate in the GoodDollar demo. For complete terms of use and included countries, please check the terms in our Demo Agreement.

Q: Can I use cryptocurrencies in my country?
A:

Due to the regulatory uncertainty in the US market we advise that all US persons read carefully the following announcement:

 

NO U.S. PERSONS MAY USE THE SERVICES OR SUBSCRIBE TO THE SERVICES AND THE DEMO-TEST VERSION. By using the Services, you represent that you are not a U.S. Person (as defined in Regulation S promulgated under the U.S. Securities Act of 1933, as amended), and you are not using the Services for the account or benefit of a U.S. Person.

Please refer to the current to your legal counsel for updated information about your country’s legal status. You may also find information online for example in this Wikipedia page  (although this page refers to the legal status of Bitcoin specifically, Bitcoin can be used as an aggregate for the policy status for all cryptocurrencies in a particular country). 

Our full Demo Agreement can be found here.

Demo

Q: Where can I get support for the GoodDollar demo?
A:

For more information on how to get started with the GoodDollar demo and troubleshoot common questions, check out our Support site.

Q: What is the GoodDollar demo and how long does it last?
A:

The GoodDollar demo period will last from April 2020 until the beta-launch of GoodDollar, slated to occur in Fall 2020. Participating in the GoodDollar demo is the best way to secure your spot to receive GoodDollars for the beta-launch. All tokens minted on the Demo version are likely to be burnt as we gear up to launch the beta. Please be aware of that. Our Demo is for feedback purposes only.

Q: How should I interact with the GoodDollar demo?
A:

The purpose of the GoodDollar demo is to get user feedback and increase awareness. Users that help us accomplish these goals will secure a spot in our beta-launch.

 

There are two ways you can engage:

  1. Invite 3 of your friends to register for the GoodDollar demo. Once all 3 friends have registered, your spot in the beta-launch will be secured. 
  2. Claim Demo G$ Coins every day for 14 days, and tell us about your experience.
Q: What happens to the demo G$ coins that I collect during the demo?
A:

The purpose of GoodDollar demo is to increase market awareness and quality assurance. Demo G$ coins collected have no monetary value and cannot be exchanged for any other fiat currencies, cryptocurrencies. Do read our Demo Agreement which provides more information.

Q: How do I confirm that I secure my spot for the beta launch?
A:

You can secure your spot for the GoodDollar beta launch two ways: (1) by claiming demo G$ 14 days in a row; and (2) through inviting 3 friends to join the GoodDollar demo. 

 

(2) After you have successfully invited 3 friends below, you will be notified that your spot is secured!