January Update: How GoodDollar built crypto UBI all 2020

GoodDollarHQ

Introducing GoodDollar.org

The vision is simple.

There is enough wealth out there to give every human being alive access to basic economic assets. How? Through using blockchain technology to regularly distribute new digital currency to every person alive, using the principles of universal basic income (UBI). Why? Because global wealth inequality is the defining challenge of our time, and if we want to improve financial inclusion, we need to make it easier for people to learn about and experience digital money.

Enter GoodDollar – a non-profit that is sponsored by eToro as part of its Corporate Social Responsibility initiatives. Now, using new financial innovations, GoodDollar creates a sustainable money flow that enables any human alive to receive and support a small, daily digital income in G$ coin.

Let’s put this vision into perspective.

The world’s top 2,153 billionaires have more wealth than the poorest 4.6 billion people in the world. And during the global pandemic of 2020, the combined increase in wealth of the world’s 10 richest men rose by $540 billion, which would be enough to pay for vaccines for everyone, according to Oxfam. What if that wealth could be used to create more opportunity for everyone, in a financially sustainable way? What if each and every one of us could use our wealth to create more opportunity for all?

GoodDollar leverages blockchain technology to make this vision a reality. Though we are just getting started, the initial signs are promising. To support GoodDollar’s initial launch, eToro locked “on chain” $56,000 to kickstart the GoodDollar Basic Income Network. Over the past 4 months, these funds have sustainably created nearly $5,000 worth of digital income that is now in the hands of the 50,000 users from more than 180 countries.

This is the start of something really, really good.

#GoodData this Month 

You can check out more statistics from your GoodDollar wallet, and through our dashboard.

A GoodStory to share

Yonatan Benami is a chef, restaurateur, technology enthusiast and the lead fundraiser and volunteer coordinator for Pesia’s Kitchen, a food-bank that every day serves up at least 1,000 healthy, free, meals to the hungry in Tel Aviv, Israel. A big believer in cryptocurrencies and digital assets, Yonatan is always dreaming up new ideas for how to integrate new innovations to the work he does with Pesia. 

Pesia's Kitchen is feeding hungry families in Israel thanks to G$ donations sent to his GoodDollar wallet.
Pesia’s Kitchen is feeding hungry families in Israel thanks to G$ donations sent to his GoodDollar wallet.

Enter GoodDollar. A GoodDollar user since its launch in September 2020, Yonatan opened a wallet with the intention of donating all his GoodDollars to Pesia, and began to claim every day. Last week, after claiming 1,407 G$ coins, Yonatan had an idea – what if he could inspire others to do good with their GoodDollars? What if he could find an “angel” who would match his GoodDollar donation in fiat currency? Figuring he had nothing to lose, Yonatan posted his philanthropic campaign on a few local and global GoodDollar community groups.  

So, what happened? First, Yonatan found his philanthropic angel (our very own Yoni Assia) who immediately sent to Pesia Kitchen’s the 1,407 shekels to match Yonatan’s 1,407 G$ commitment (1 G$ is not equal to 1 NIS). But what happened next was arguably even more excited! Inspired by Yonatan’s good deeds, a few other GoodDollar community members decided they too wanted to raise GoodDollars to donate to Pesia’s Kitchen! After 48 hours of fundraising, Pesia’s kitchen received over 200,000 G$s from GoodDollar users all over the world. 

So how do you plan to use your GoodDollars to add more #good into the world? We can’t wait to see what the community comes up with next! 

Good developments

Sustainable Giving.

This month keeps getting better. Our sustainable giving model is now live, which enables real people like you to contribute to sustainably create income – forever – that is distributed directly into the hands of real people around the world. Plus, it’s all fully traceable and trackable through the blockchain. You can read more about it here.

Ambassador Program.

We are nothing without the support of our super talented, driven and innovative community.  One guy in Portugal is saving the planet and planting trees in exchange for G$s. And this DevOps engineer from France is co-building the very smart contract we just launched, completely voluntarily. To attract more super users and reward their amazing contributions, we proudly launched our Ambassador program. It’s a cool way for us to incentivize our community to help us build and scale the GoodDollar brand and mission all over the world. We’ve received over 200 applications since the announcement, and invite you to check it out for yourself!

In the Press

We’re serious about scaling up the world’s first digital income economy. The launch of our sustainable giving model extends beyond individuals with a big heart and crypto, and enables other blockchain investors to fuel the movement, too. We announced our first partnership with SolidBlock, marking an exciting new milestone in advancing how traditional assets, such as real estate, can be used for social impact.

Let’s Talk About Basic Income

Anna Stone, GoodDollar’s Commercial and Partnership Lead, had a live discussion (how events go in 2021, right?) about why we’re building basic income on the blockchain. It was hosted by a Swiss-based basic income research group and a blockchain think tank, and you can watch it here.

Good things are coming. So, what’s next?

GoodDollar Referral Network

What keeps us up at night? Dreaming up schemes on how to get as many millions of people to join the GoodDollar economy as possible. The simple act of pressing the claim button on our web app is literally what drives the basic income protocol (watch this video to learn more about how it works). So what better way to bring growth than reward our users for bringing their friends and family! Launching in February, now users can invite friends and family and get additional rewards for growing GoodDollar. The best part? They can really feel good for playing a part in driving the snowball effect of crypto mass adoption, while growing the social impact of GoodDollar’s network for all its users. It’s a double, triple, and quadruple win, for everyone.

Tune in this month

Yoni Assia is back on Real Vision February 10th, talking all things GoodDollar and eToro.

Digital Currency Summit is happening February 23-25th in Paris (technically, we’ll be in our living room). Anna Stone will be a guest speaker.

Be a good friend. How can you get involved?

  • Create a wallet. It takes 30 seconds, literally. 
  • Subscribe to the newsletter. Every week we send out the top headlines circulating our own Slack channel and global news feeds about the future of currency, blockchain, decentralized finance and basic income. It makes for really great dinner table conversations.
  • Be a part of the conversation and join our Telegram, Twitter and Facebook channels. Drop us a like, share our articles, and start some interesting discussions. 
  • Donate and create digital basic income for all, forever 🙂

Back to Blog