A Week Of #GoodNews

Cointelegraph names GoodDollar as one of the top organisations accelerating real-world adoption of crypto in 2020

One of the world’s most well-respected cryptocurrency publications, Cointelegraph, has named the not-for-profit GoodDollar foundation on a shortlist of pioneering organisations that have helped accelerate the progress and adoption of real-world crypto and blockchain. We are proud to feature alongside PayPal, Uniswap, JP Morgan, and others. And we are pleased that our efforts to use blockchain and cryptocurrency to reduce global wealth inequality by offering a digital basic income for anyone and everyone are being noticed. The CoinTelegraph article says: “The idea of a universal basic income already had broad support, including from former US presidential candidate Andrew Yang. However, the coronavirus pandemic has precipitated further backing for the idea given so many people continue to be affected by the economic fallout. Therefore, GoodDollar is an intriguing experiment in generating a sustainable source of funding for a UBI.” Most exciting of all? Having only launched our basic income wallet and protocol in September, we are just getting started.

Top One-Percenters Urged To Help Close Wealth Inequality Gap By Ex-Goldman Sachs Executive

Marty Chavez, former Chief Financial Officer of leading global investment bank Goldman Sachs, has urged his fellow high-earners to help narrow the growing wealth inequality gap, reports the New York Post. He fears that unless something is done in this regard people will take to the streets and riot. “You don’t want the inequality to become so extreme that it leads to a revolution,” Chavez says. “You ought to be prepared to pay to decrease that probability of that happening.” At GoodDollar we are all about reducing wealth inequality and applaud his public comments. But, as Shakespeare wrote, actions speak louder than words. We’re all ears.

Internet Wealth Must Be More Evenly Distributed

The Harvard Business Review argues that, much like Chavez’s comments, the top one-percenters can do more to distribute their wealth – the only difference being on this occasion it’s about the inequality of the internet, and lamenting the greed of platform owners. The piece, titled The Creator Economy Needs a Middle Class, suggests that a lack of spread – in terms of both content and finances – is a lose-lose situation in the medium to long term. “The current creator landscape more closely resembles an economy in which wealth is concentrated at the top,” says the article. “On Patreon, only 2 per cent of creators made the [US] federal minimum wage of $1,160 per month in 2017. On Spotify, artists need 3.5 million streams per year to achieve the annual earnings for a full-time minimum-wage worker of $15,080, a fact that drives most musicians to supplement their earnings with touring and merchandise.” The message, which we at GoodDollar agree with, is to make the world stronger we need less greed and more sharing.

Six Good Reasons Why Blockchain Technology Will Shape The Future

All of the GoodDollar team believes in the potential of blockchain – the immutable, transparent database technology that underpins bitcoin, and hundreds of other cryptocurrencies. VENTS magazine has listed six reasons why more people, and businesses outside the crypto space, should embrace blockchain technology. Our basic income wallet and protocol is built using blockchain, and we are firmly in the blockchain-for-good camp. But this list, which focuses on the financial benefits, offers more reasons to use the technology.

Country Coins That Reduces Inequality – The Next Nobel Prize?

Fortune shares a “far-out crypto idea” from Brian Brooks, America’s top banking regulator, that is designed to “help close the wealth gap between the developing and developed world”. The US Acting Comptroller of the Currency’s concept is a “country coin” to promote education and economic growth worldwide – country coins are exchanged for completing online courses. Essentially it’s a trust fund set up by the state. “This is a way of increasing equity and increasing growth without raising taxes and without pitting the rich against the poor,” Brooks says. “I’m telling you this should be the next Nobel Prize. It’s a big idea.” We are all for social inclusion, sharing the wealth, boosting education and reducing global wealth inequality.

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