There is enough money in the world to sustainably pay for a global basic income for all

If you share our belief that everyone should have access to basic economic (digital) assets, this month seemed to confirm once and for all there is more than enough wealth out there to pay for it. Take as a small anecdote this week’s NFT craze…

NFTs meet basic income

A few weeks ago we saw a historic mash-up of NFT speculation meets basic income. Jack Dorsey auctioned off his first tweet as an NFT for $3 million, with the proceeds going to GiveDirectly, the world’s leading non-profit in advancing universal basic income pilots.

So, why should we care? This milestone signifies that there is so much MONEY and untapped value out there, that there is NO EXCUSE why we can pay for a basic income for everyone.

Even within the niche market of digital assets, between the crypto boom of 2020 and the exploding NFT craze, there is already enough new wealth in crypto to fund a digital income to support hundreds of millions of people a year.

We need to think bigger about how we use money to generate value, for all.

For example, how could the $3 million donated by Jack Dorsey advance a basic income that touches more people? The donation model is limited by design, the $3 million donated to Give Directly will reach potentially thousands of people, but ultimately, those funds will one day finish.

Instead, we need to innovate on how we use principle funds to generate more sustainable impact. This is where financial innovation on blockchain comes in! The same $3 million could be “staked” in the GoodDollar protocol and support over 5 million people with $30 a month over the next 10 years. $3 billion staked would support 3 billion people with $30 a month. There is already $40 billion staked in DeFi.

There are no more excuses. So, what are we waiting for?

Let’s start doing the math

In fact, in the month of March alone, GoodDollar delivered $6,000 USD in free digital income to its members, based on a $58,000 stake.

We’re on a mission to distribute real value to real people all around the world. In March alone, 22 million G$ were distributed. That’s an estimated value of $200 USD per day. If we zoom out, an estimated $16,000 USD has already been distributed to date. And we’re only getting started… so now we ask each other, how to scale up?

Top insights during March

There’s a new country on the GoodDollar map. In Vietnam there are now 14,000 new GoodDollar wallets opened. That’s 25% of all new wallets created globally in the last month.  So naturally, we’re looking to meet the Vietnamese GoodDollar community!

Plus, we improved our sign-up funnel success rate by 20%, and sign-ups have increased by 33% during the month of March. Let’s keep the momentum going!

Update on beta launch: We are weeks away from releasing the Android App for testing and we need your help! More than 200 members have already signed up for the beta test… and there’s still time for the rest of you. Want to get involved?  Fill out this form with just a few more details to get started. Look out for more GoodDollar announcements in your email and social channels, we’re planning to officially begin beta testing the first week of April 🙂

New product features added. Plus, a new Gitcoin bounty!

Export the GoodDollar wallet with your Fuse ID.  You now have all the info you need in order to export your GoodDollar wallet to Metamask, from one place.

Add a payment category when sending GoodDollars. Now you can now specify what the transaction is for (i.e. digital services, social media engagement, donation, and more). Plus, add a personal message!  With this new feature, you allow us to understand more about the transactions happening within the GoodDollar community, and help us adjust the wallet to better provide for the community’s needs.

Product updates and fixes.

• Personalized invite links – just add your invitee’s name! And you can now see all your accepted invites in one place.
• Improved face verification process – implemented the new Facetech SDK.
• Improved feed click sensitivity – for a better experience on the GoodDollar homepage

See more details and the full list GoodDollar product and protocol updates via the Github community.

New Gitcoin bounty alert! You asked to pay with GoodDollars, and we have full confidence that the GoodDollar community can deliver it! Together with Gitcoin we’ve published a new bounty to build a Payment API for GoodDollar and win $1,200 in prizes. Ready to get started?

We are partnering with the Fuse team to run a new liquidity provider campaign. Are you looking for ways to use all of those GoodDollars you have been accumulating in your wallet? Are you interested in using your GoodDollars to support the protocol’s growth? Are you interested in exploring decentralized finance, but have been scared off by the gas fees of mainnet? We’ve got you!

This month we will announce our first liquidity provider campaign in partnership with Fuse.io, with over 25,000 FUSE available as rewards for those that participate. Check out this video to get an overview on how to bridge assets from Ethereum to Fuse network, add liquidity and receive liquidity provider (LP) token rewards. Interested in joining? Sign up for the newsletter to be the first to get these updates!

GoodDollar in the news

This month on the Blockhash channel, Anna Stone and Brandon Zemp discuss GoodDollar and how it’s creating the first form of Digital Basic Income. As inequality takes new shape in the global economy AND in crypto and digital assets… how does decentralized finance (“de-fi”) provide the infrastructure for us to design new money flows? Tune in to learn more about how GoodDollar is leveraging the infrastructure of de-fi to sustainably deliver a digital income to nearly 200,000 people across the globe.

On March 16th, eToro – GoodDollar’s flagship sponsor with shared founder Yoni Assia – announced it will be going public later this year. Kudos! We are proud to be on the shared mission of educating and empowering more people, globally, to learn about new assets and global markets.

GoodDollar Community

Subscribe to the Good$ News Podcast run by super-user Micah Dewey to stay updated with awesome community content. His social channels are a great way to learn about what other GoodDollar members are developing and contributing to the ecosystem. From NFTs to weekly recaps, you don’t want to miss out.

Count me in. How do I get involved?

Calling all future Ambassadors. Want to get more involved in the GoodDollar community building alternative economies around the world with G$? Stay up to date with all the latest news and happenings by filling out the (easy) application form here. You’ll get a link to join the Ambassador Telegram Group and connect with more GoodDollar makers and shakers.

GoodDollar is talking on Clubhouse! Follow Anna, Jess, Tal and Travis for totally new content and join our discussions about how we’re building a blockchain app and working to make crypto more inclusive for everyone. See you there 😎

Join the GoodDollar app beta test (!) It’s fun and it’s important for building the first GoodDollar Android app.

Subscribe to the newsletter to be the first to know how we and others are using blockchain to advance a new economy that empowers everyone.

Get to know the GoodDollar community

• Create a wallet. It takes 30 seconds, literally.
• Invite your friends (and get bonus G$s for it). Access your personal referral link and share it directly from your wallet.
• Subscribe to the newsletter to receive the top weekly headlines circulating our own Slack channels and global news feeds. Stay up to date on the future of currency, blockchain, decentralized finance and basic income. Plus, 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 🙂