Good Dollar: The Digital Universal Basic Income

GoodDollar is a blockchain-based social impact project that aims to provide a decentralized basic income system through the distribution of free cryptocurrency. 

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The project is supported by a team of blockchain experts, economists, and social impact advocates, who are working together to bring the concept of decentralized basic income to life. Users can earn a daily income in the form of a stable cryptocurrency called GoodDollar, which can be used to make purchases, donate to charity, or exchanged for other cryptocurrencies. The project operates on a decentralized autonomous organization (DAO) model, using smart contracts to automate the distribution of funds and ensure transparency and fairness. GoodDollar is a global project that aims to provide economic opportunities and reduce inequality to individuals and communities around the world, regardless of their location or nationality.

If you believe in economic inclusion and the distribution of prosperity for all, then I invite you to sign up for GoodDollar and start collecting your daily digital UBI. Use my invite link and receive an extra 50 G$ bonus:  CLICK HERE

Good Dollar: The Digital Universal Basic Income

The concept of Universal Basic Income (UBI) has been around for centuries, but it was not until recently that the idea gained popularity worldwide. The Good Dollar project, launched in September 2020 as a corporate social responsibility (CSR) initiative by eToro, has taken a unique approach to UBI by introducing a digital currency called G$. In this article, we will explore the Good Dollar project and its potential impact.

What is Universal Basic Income?

UBI is a concept that aims to provide consistent basic income to every individual, regardless of their work status. The income is generated through government taxes, and its distribution is based on the principle of social equality. Several countries around the world have experimented with UBI, but the idea has not yet been widely implemented.

Good Dollar - A Digital UBI

Good Dollar is an NGO that aims to provide digital UBI to communities worldwide. The project has introduced a decentralized cryptocurrency called G$ on the Ethereum blockchain and Fuse.io sidechain. G$ is not yet listed on any legitimate exchanges, so its price cannot be tracked from a credible source. However, according to the Good Dollar website, there are currently 223,000 people in the community, and 66M G$ tokens have been claimed by mid-July 2021.

How Does Good Dollar Work?

Users can earn G$ by creating a Good Dollar wallet, signing up via their emails or social media accounts, and earning 50 tokens (about a cent as of July 2021) as a starting point. Users are required to create a video selfie showing their faces and identifying themselves to sign up. The wallet enables users to collect G$ by clicking a "claim" button each day on the website, which provides a number of coins based on the "Reserve Ratio."

The Reserve Ratio is a number that reflects the ratio between crypto-assets locked in the GoodReserve (i.e., the staked coins) versus the G$ out in circulation. The reserve ratio is expected to decline over time, minting more G$ coins relative to the crypto assets in the reserve.

There are two types of Good Dollar users: Supporters and Claimers. Supporters are people who fund the G$ supply by staking their capital, and they continue to receive interest provided by the G$ platform. Claimers are people who receive G$ coins. After supporters' interest is paid out, the remaining balance of G$ coins minted from interest is distributed equally on a daily basis as basic income to claimers. The payment is divided evenly between the number of claimers that issue a claim on a given day.

Does Good Dollar Have Legitimate Use Cases?

Currently, G$ is not accepted as a payment method by major businesses. However, people have used G$ tokens for buying and selling homemade birthday cakes, vegetables from personal gardens, used iPhones, tutoring, or babysitting services, among other things, in a study on 500 eToro employees in Israel. Today, users can buy and sell goods or services on the Good Dollar marketplace.

Will Good Dollar Make You Rich?

No, and that is not the aim of the project. The Good Dollar project aims to provide digital UBI to global communities, and its mission is not to generate wealth for its users.

If you believe in economic inclusion and the distribution of prosperity for all, then I invite you to sign up for GoodDollar and start collecting your daily digital UBI. Use my invite link and receive an extra 50 G$ bonus:  CLICK HERE

Adding Fuse Network to Metamask

you can add the full parameters:

Additional: https://rpc.fuse.io

ChainId: 122 

Explorer: https://explorer.fuse.io

Symbol: Fuse

Fuseswap

Fuseswap is an exchange platform that allows users to exchange GoodDollar G$ tokens to Fuse tokens or any other token with a G$ liquidity pool. Fuseswap is built on the Fuse Network, which is an Ethereum sidechain that provides fast transactions and known gas costs within an Ethereum EVM solidity compliant infrastructure. This makes it ideal for commercial and non-commercial mobile payment solutions. With gas costs often less than $0.00001 and capped at a maximum of $0.01, it's cost-effective to swap low-value tokens or do low-value micro transactions. Moreover, any Ethereum mainnet token can be bridged to fusenet, and swapped with Fuseswap, eliminating the need to pay high mainnet gas costs. GoodDollar, a global UBI scheme that allows anyone to claim G$ tokens each day, runs on the Fuse Network. The platform is perfect for exchanging G$ tokens to other tokens like FUSE, ETH, WBTC, USDC, DAI, among others. The great thing about GoodDollar is that each wallet has a small amount of Fuse tokens to pay for G$ transactions, making it possible to use Fuseswap without having to first get Fuse tokens to pay gas costs. It's easy to set up and start using Fuseswap by following a few simple steps, including installing the Metamask browser extension, adding the Fuse Network to Metamask, and importing the GoodDollar Wallet Private Key (PK) into Metamask. This partnership between Fuse and GoodDollar is a great combination, giving full DeFi crypto opportunities and experiences to everyone, with no upfront costs required and completely accessible through a mobile phone.

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