GoodDollar Wallet launches with $100,000 coronavirus relief package for eToro employees

Thursday 21 May 2020, 8:59 PM AEST - 3 months ago

eToro used GoodDollars UBI wallet to facilitate employees $100,000 donation program as part of the UBI pilot.

GoodDollar, a non-profit initiative working to deliver universal basic income (UBI) through blockchain technologies, launched their wallet for delivering basic income this past week by facilitating $100,000 in coronavirus relief donations for investment platform eToro. eToro used GoodDollars UBI wallet to facilitate their employee coronavirus relief campaign, with over 300 employees using the wallet to donate $100,000 to local Israeli charities to support the vital work being done to fight the coronavirus pandemic. The four charities are Sheba Medical Centre, Kaplan Medical Centre, no2violence, and Leket Israel.

Commenting on the donations, Yoni Assia CEO and Co-founder of eToro, said:

This initiative was not just about doing good for others with a charitable donation, it was about showing the strength of a collective committed to social impact and global welfare.

The coronavirus pandemic reinforces the argument for a universal basic income. Direct cash transfers and relief packages are now part of the everyday political conversation demonstrating the importance that regular minimum income plays in bolstering an entire financial system.

GoodDollars goal is to produce a framework for delivering global, sustainable, and scalable universal basic income through blockchain technology. Universal basic income, otherwise known as UBI, is the idea of providing people with an unconditioned, recurring cash payment – a policy proposal that has grown in global awareness and popularity over the past several months following the economic fallout from the coronavirus pandemic. GoodDollars vision is a world in which everyone has access to basic economic assets, and aims to give away small amounts of basic income to onboard new users into the digital asset space. The solution includes a cryptocurrency, G$, which is distributed as UBI, and a digital UBI wallet, which it recently launched in its collaboration with eToro. A public demo version of the wallet is now available to the public online.

In January 2020, GoodDollar partnered with eT ...

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