With enforced shutdowns driving governments to enact emergency stimulus measures and airdrop funds into citizens’ accounts, Universal Basic Income (UBI), also known as Basic Income has attracted renewed interest. This fact hasn’t escaped the attention of e-trading brokerage eToro, whose launch of corporate social responsibility initiative GoodDollar (G$) aims to bring Basic Income to the mainstream, delivered on the blockchain.
GoodDollar, launched publicly on September 7, and delivers a solution that empowers citizens around the world to claim Basic Income via the G$ coin, a digital currency that any cell phone owner can claim, and convert to local currency.
Basic Income is a long-standing scheme that has recently gained new attention and relevance as governments have begun to give money directly to citizens through financial rescue packages. The Coronavirus Aid, Relief, and Economic Security (CARES) Act, is a departure from past financial stimulus packages for its signature policy of providing each American with a one-time $1,200 cash payment.