He called on the "open call to the world to" re-examine the existing economic framework, "co-founder and CEO eToro Ioni Assia today announced the launch of GoodDollar, a non-speculative crypto project that is blocked, which is geared toward global distribution on the principles of universal of the basic revenue. The launch has the support and blessing of eToro, with a million dollars of trading platform financing to get started.
Use Blockchain to distribute universal basic revenue
Universal Basic Income (UBI) is a concept that has been explored for a number of years by block enthusiasts and technologists as the division between technologists and non-technological workers deepens. The phenomenon of artificial intelligence is acutely worried about displaced workers. Several UBI experiments have been conducted or in progress, with different results. The UBI concept is simple: everyone in a given group is given a guaranteed subsidy without bounds. People are still free to work or achieve entrepreneurial goals.
In the case of GoodDollar, according to a press release from eToro:
"The experiment will explore the application of a crypto-index that pays social interest to those who have less and are continuously distributed to any verified participant for free, creating a global, open, universal basic income (UBI)."
The concept of social interest is explained in a little more in the example. It is defined as "the monetary mechanism of inflation that is designed to benefit the poor by allocating most of the newly received currencies".
Ioni Assia has long been an advocate of action in a way that positively affects the disparities of wealth. First he described a good dollar almost ten years ago in the blog.
"When all the money is transparent, we believe that the invisible hand will become visible and philanthropy could actually direct the economy to create a higher value. […]
"The most important essential value is the individuals, because we believe that human life has a value, which means that individuals need to get better interest rates than any other entity, and thus a better world for all individuals. As for other entities, value should be derived from their Added value to the world in a democratic way Academic institutions, for example, need to have higher internal value than corporations and need to get a higher interest rate. Culture and education have added more value to the world than can / should be performed as direct payments.
"Assuming that in the end all money is transparent and that all of its assets in the system, a person who only has $ 100 should get a higher interest rate, because he needs more support to maintain his basic living needs, while a person with $ 1M on the deposit should receive a lower interest rate, because he can invest more value to the world. "
The design of the GoodDollar system is such that simply a wealth of wealth does not create anything to create more wealth, and the use of those for the benefit of those who are considered necessary for such an investment will benefit both sides. (We suggest that the reader check the blog posts on this topic for deeper understanding.)
GoodDollars will be available to everyone who is subject to social verification, and each person will then be assigned a value on a block-basis so that the algorithm will allocate a portion of the share.
Interview: Ioni Assia at GoodDollar
We asked a few questions from Ascii and collected the following answers, which were easily processed for clarity.
CCN: Is there a particular incentive for blocking companies to deal with issues like inequality of wealth?
Assia: While inequality of wealth is the expected outcome of free markets, good actors should be concerned about helping those at the extreme end of poverty. Due to the decentralized nature of the blockac, blockchain can help build wealth in the economies that have plagued corruption and instability, since bad actors can not manipulate value and records. In 2017, only 1% of the world's population own more than 50% of wealth, and a large number of individual members of 1% had the opportunity to accumulate wealth thanks to the environments in which the rule of law determines how things are conducted. In the world of digital assets, 0,7% of cryptographic notes retained as much as 87% of total battles in delivery. However, it is very possible that 0.7% live in very unstable environments and in that way manage to protect and build their wealth. Expanding the adoption and use of crypto in underdeveloped countries, war zones or other areas where people can not protect and build their wealth, can therefore help those in extreme extreme poverty to close some gaps with a richer population in developed countries and help the poor in developed countries to have a more sophisticated mechanism to deal with the upcoming technological unemployment, where jobs will be replaced by robotics. Voluntary universal basic block-based revenues can help those with fewer money to stop the fight cycle to meet their most basic needs and give them the opportunity to achieve their purpose.
CCN: How important is the liquidity in the GoodDollar ecosystem?
Assia: Liquidity is certainly important in the GoodDollar ecosystem. Universal basic income is valuable only if cryptocoupling is liquid with actual purchasing power. GoodDollar aims to create non-speculative cryptocurrencies that will not be unstable in value and will be a coin and freely distributed to each person, based on the verification of social identity on a blockbase.
CCN: What are the ways that users of everyday crypts can help?
Assia: When cryptocentricity is initiated, individuals will be encouraged to maintain their property, receiving interest based on the wealth of individuals. Until then, we are asking the crypto user to continue to take advantage of this revolutionary technology from everyday users.
CCN: Is an investment of one million dollars the last of eToro's investments in the project?
Assia: The eToro investment in the GoodDollar experiment will help further development, deep research, economic modeling, product design, community expansion and partnership building with relevant technology companies, foundations / non-governmental organizations and more. We currently do not have any further investment plans, but we are passionate about this project and we will support this experiment with the resources we have at our disposal.
CCN: What are the results expected?
Assia: We are still in the process of finalizing GoodDollar's mechanics and we are actively seeking experts in the crypto and economics to provide appropriate incentives for the GoodDollar framework. When the details are strengthened, the circle can be returned for further discussion.
Images from Finekt / IouTube
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