GoodDollar Digital UBI Boosts 40K+ People from 180 Countries
December 2, 2020 –– GoodDollar, the social impact project delivering a digital universal basic income (UBI) at scale, has reported strong demand since launching on September 8. In little more than eight weeks, more than 40,000 people from 180 countries have signed up and begun claiming and using the G$ digital currency.
“Never before have we seen millennials displaying such interest in new digital assets, and the pandemic has only accelerated this trend. We see a new influx of people who are hungry to participate in the markets, and adopt new financial innovations. GoodDollar expands financial literacy and access to markets, while providing a digital basic income to fuel its own digital economy,” said Yoni Assia, CEO & Co-founder from eToro and GoodDollar.
More than half of these individuals have become regular users of GoodDollar, logging into their digital wallet and claiming G$ every day. To date, over 14 million G$s have been distributed to users, who have embraced the GoodDollar concept and accelerated its integration into existing marketplaces and platforms, creating a thriving economy denominated in G$.
Over 13,000 users have joined GoodDollar’s community-initiated and managed Facebook marketplace, using G$ to buy and sell online services, and with users spinning off local marketplaces have been established in more than 40 countries. On average, upwards of 300 transactions a day are being recorded between users who are buying and selling professional digital services such as marketing, graphic, and web design. Other services being offered through GoodDollar marketplaces include language tuition, yoga and meditation lessons, and social causes such as using G$ to plant trees. Looking forward, GoodDollar plans to focus on increasing the number of G$ distributed to users every day, growing the network, and marketplace improvements that facilitate more robust commerce in G$.
The robust demand for G$ and for the digital income concept GoodDollar has implemented demonstrates that real people are hungry to adopt complementary currencies and have deep understanding of circular economies, ideas whose time has arrived. With the bulk of the early adopters hailing from developing countries and low income households, G$ is being utilized to enable more economic activity and promote entrepreneurship amongst those whose fiat earnings are spent fully on basic needs. Although at an early stage in its lifecycle, all signs point towards GoodDollar demonstrating that a digital basic income can work at scale, while effecting positive change on a global level.
GoodDollar.org is a social project to generate, finance, and distribute global basic income via the GoodDollar token (G$). Its goal is to provide a baseline standard of living and reduce wealth inequality through the creation of a universal basic income. The project was founded by Yoni Assia, the Co-founder and CEO of eToro, the global investment platform with over 14 million registered users. eToro has financed the GoodDollar project as part of its corporate social responsibility initiatives.