GoodDollar, a social impact project delivering a digital universal basic income (UBI) at scale, has received great demand since it was launched on September 8.
In just a bit more than eight weeks, over 40,000 people from 180 countries all over the world have signed up and started to claim and use the G$ digital currency.
Yoni Assia, CEO and co-founder from eToro and GoodDollar, said:
"Never before have we seen millennials displaying such interest in new digital assets, and the pandemic has only accelerated this trend. We see a new influx of people who are hungry to participate in the markets, and adopt new financial innovations. GoodDollar expands financial literacy and access to markets, while providing a digital basic income to fuel its own digital economy."
More than 20,000 users now use GoodDollar regularly by logging into their digital wallets and claiming G$ every day. To date, more than 14 million G$s have been distributed among users, who are actively using the tokens concept and have boosted its integration into existing marketplaces and platforms, which has created a thriving economy denominated in G$.
The project has its own Facebook marketplace, which has 13,000 users and is managed by the community, whose members use G$ to buy and sell online services. On average, users carry out around 300 daily transactions in order to buy and sell professional digital services such as marketing, graphic and web design, among others.
The project plans to increase the number of G$ that are distributed to users everyday in order to grow the network, while some improvements will also be made to the marketplace to facilitate more robust commerce in G$.
G$ enables more economic activity and promotes entrepreneurship amongst people who spend their fiat earnings completely on basic needs. Even though the project is at an early stage in its lifecycle, GoodDollar is demonstrating that a digital basic income can work at scale, while effecting positive change on a global level.