It’s July, and GoodDollar has distributed nearly $16,000 in digital basic income

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Support for basic income and adoption of digital currencies is growing

In June alone GoodDollars were claimed 1.2 million times, across 183 countries. That’s 1.2 million reminders of the growing global #UBI movement, especially as cryptocurrency adoption surges in unstable economies like Argentina, El Salvador and India. Did you know that over 40,000 people are coming and claiming GoodDollars every day?

Together, we’re working to support the foundation of a free-er and fair-er global financial system. How? by creating the technological innovations to support it (everything we do is open-source) AND develop real people-friendly products to enable greater adoption.

We are also a few months shy of GoodDollar’s one year anniversary of officially launching the digital wallet and basic income protocol, and naturally, it’s 110% full steam ahead.

So, what’s been going on?

16.2 billion G$ minted and distributed to date 

But wait, where does the money come from?

The GoodDollar protocol uses free market forces and the principles of social investing to create a stream of free digital currency (learn more here). This model uses interest made from the principle to fund basic income and rewards sponsors, similar to social impact bonds or endowments.

Welcome to decentralized social impact 🙂

Staking, V2, and what’s coming next 

The GoodDollar team is in BUILD mode, which will enable anyone to stake. While we race towards new and exciting product developments, here is a teaser…. (we’ll share an official roadmap 2.0 soon!)

  • Opening staking for all. Soon, the GoodDollar protocol will be opened for anyone and everyone to stake and earn rewards for supporting Global UBI. Stay tuned!!
  • A soon-to-be-announced rewards scheme for supporters. Stake for #good, fund global UBI, and receive rewards!
  • GoodDAO governance philosophy and scheme, and how the community can participate. 
  • Revamped UX/UI to encourage participation. We’re simplifying things, a lot.
  • Better documentation on how to financially support GoodDollar.
  • Launching the first GoodDollar app for Android. Very soon, you will be able to receive push notifications, faster transactions synced with your phone contacts, and daily claim reminders. Thank you to all the beta testers for your feedback and help!

In total, 9 million GoodDollars have been claimed

That’s 9 million reminders of why we do what we do, and just how eager and curious people are to experience and own digital assets.

This month, the GoodDollar community hit some pretty important milestones, and big numbers are worth celebrating (obviously):

  • 98,136 total transactions with G$. Who is going to be the 100,000th transaction? Check out the marketplace if you’re looking for some inspiration.
  • 15,906,369 G$ added in circulation during June
  • 8.9 million G$ distributed in June
  • 1.2 million times GoodDollars were claimed in June 

We’re all about transparency, and invite you to follow along via our dashboard here. Then, share your insights and questions with the GoodDollar community on Twitter and Telegram!

Community Spotlight: Namibia

Last month, while our friend Hans Huber von Holzhausen travelled in Namibia, he went to a school and thought it would be a great place to onboard new people to the digital economy. Excitingly, for most people it was their first time accessing crypto.

Why was this possible? The GoodDollar wallet was created to make it simple and easy to access free digital money. Our design principles hinge around building inclusivity and enabling any person to get access to crypto:

  • No app needed. Save your internet data and skip the download, you can access the wallet from any browser. GoodDollar is the easiest, risk free way to open a digital wallet and start getting free crypto.
  • Easy social sign-up. Create a wallet using a Facebook or Google account.
  • One smartphone can register an entire community. How? Members pass face verification to confirm that everyone is a unique and individual human, to maintain the realness of the GoodDollar community.
  • Send and receive crypto, totally risk-free. When we say this is free digital money, we mean it. We even cover the gas fees! Learn more about how we operate on Fuse network.
  • Get real digital money on chain. (Yes, it’s really real.)
  • Learn about digital money by interacting and experimenting with it, with a growing community of 300,000 members around the world 

We love seeing how GoodDollar is actually getting crypto to the people that are least likely to access it. Now that Namibia has been added to the GoodDollar world map, which country do you think will be next?

There’s a New Ambassador in Ghana

There’s a GoodDollar community growing in Ghana, thanks to our new ambassador Faisal. He created a Telegram and community facebook group, too . Plus, he is selling MTN airtime minutes in Ghana via the marketplace. So, get yours here!

Latest Press and Events

  • Announcing Shopping.io and GoodDollar: Combining crypto currency and social impact (via Yahoo! Finance)
  • What are the paths to mass adoption? Panel hosted by Crypto Tel Aviv (watch here). 
  • Looking forward to reconnecting with the Ethereum community in Paris at the EthCC Conference June 20. Tune in to hear Tomer Bariach share how we’re delivering a global digital basic income. Register here.

We fixed a (slight) liquidity problem

Think the daily G$ distribution has seemed a bit low? We did some research, and the simple answer is: there is a lack of liquidity on FuseSwap.

Why? Fuse issued a new stablecoin and moved all the liquidity to their stablecoin. As an automatic result, GoodDollar’s contracts did not roll with the new pairs that Fuse just listed. This created a liquidity problem for us, which the team has now fixed, and now on the next batch we’ll go back to seeing larger batches of UBI distributed daily. 

This is a friendly reminder to claim your G$! 

Simply by claiming G$ everyday, you are minting more digital basic income for the entire global GoodDollar community. Be sure to check out the updates in the GoodDollar wallet, and invite your friends to join, too. Stay tuned for many more updates in the next few months…!

What are the latest product updates?

Your Account

  • Fixed bug with setting the phone number that has been verified and deleted
  • Fixed bug with displaying white screen after logging in
  • Fixed bug when the user wasn’t able to open an account with a Facebook unverified email
  • Improved Invite process – invite code saved to asyncStorage to persist through page refresh

Transactions

  • Fixed bug with displaying the pending payment card as a red card without the option to cancel
  • Added transaction hash and link on the payment cards that redirect to Fuse explorer with details of payment
  • Improved transaction feedback – the reason of transaction is displayed for all types of payments

Other Updates

  • Improved speed and scroll of the feed
  • Fixed scroll view on Export Wallet screen and removed extra scrollbar on Terms And Privacy

Want to get involved? 

  • Create a wallet. It takes 30 seconds, literally.
  • Invite your friends (and get bonus G$s for it)
  • Join the conversations on Telegram and Twitter, and connect with more crypto and social impact enthusiasts like you
  • Donate and create digital basic income for all, forever 🙂

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