eToro expands GoodDollar initiative to 1 million basic income recipients

  • The GoodDollar initiative expands with support from eToro to deliver rewards to 1 million basic income recipients.
  • The users receive free funds every day in G$ and $100G for each referred user.

Conceived as a social impact project, GoodDollar.org has announced the expansion of its initiative to generate and distribute universal basic income with the G$ token. With the support of eToro, GoodDollar will deliver rewards to 50,000 basic income recipients.

Rewards will be distributed daily to all users of the initiative via the GoodDollar protocol which differs from other projects in that it delivers free funds daily to all of its users. In addition, GoodDollar has a “user-friendly” wallet. This is to achieve another of the project’s objectives which is to allow anyone to use cryptocurrencies.

In addition to daily distributions, the GoodDollar protocol will give away 100G$ to all users who bring invitees to join the project. They themselves will receive 50G$ as a welcome gift. The GoodDollar team stated in a press release:

The referral scheme will expand the GoodDollar user network and thereforestrengthen the utility of G$ to be used for global peer-to-peer commerce and varied communityusage.

GoodDollar has seen a growth of over 17,000 users recently and its adoption has grown to become a medium of exchange in established marketplaces in 40 countries. There, “a growing community of entrepreneurs”, according to the release, offer digital services and others with the G$ token.

The project was created by the founder and CEO of eToro, Yoni Assia. Via a press release shared with CNF, Assia stated the following about the initiative:

GoodDollar’s rapid success in reaching thousands of users across the globe shows that realpeople are eager to enter the digital assets market, and are hungry to participate in socialprojects designed to make the world a better place. We are confident that our sponsorship ofGoodDollar tokens for new users will support the onboarding of 1 million users to GoodDollar,as part of our larger mission to give more people the ability to experience and use digitalcurrencies.

Assia added that eToro’s support of the initiative is a sign of the new model that enables corporations to contribute to society and added:

Our support for GoodDollar presents a new model for how corporate entities such as eToro canuse their resources to do social good, through supporting efforts that educate and preparepeople for how to use digital currencies in a digital world.

About Author

Reynaldo Marquez has closely followed the growth of Bitcoin and blockchain technology since 2016. He has since worked as a columnist on crypto coins covering advances, falls and rises in the market, bifurcations and developments. He believes that crypto coins and blockchain technology will have a great positive impact on people's lives.

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