eToro launches a corporate social responsibility initiative GoodDollar

eToro
  • eToro launches social responsibility initiative GoodDollar 
  • The initiative is based on blockchain technology
  • GoodDollar aims to help people out of the banks’ system

eToro launches a corporate social responsibility initiative dubbed, GoodDollar (G$). Launched in early September, G$ functions to bring freedom to people on a global scale.

What is GoodDollar?

The idea behind this initiative is to make it easier for citizens to receive a universal basic income (UBI). The intention behind this idea is to create this means of universal payment, but in a manner that cannot be altered or controlled by the government. Blockchain technology and the public blockchain network work together to make this concept a potential reality.

eToro provides a solution that may help citizens globally to receive a UBI through G$. Essentially, this would be a digital currency available to everyone with the only requirement being – to have a smartphone. With this access, people can easily claim UBI payments through G$ and change it for a national or any other currency. Amidst the fallout of the global Covid-19 pandemic, this solution is expected to be welcomed with open arms.  

UBI would revolutionize our everyday lives 

The idea of a UBI has lately caught attention and began to have its importance recognised. Many governments decided to give cash directly to their citizens. This is essentially a financial rescue package needed in this frustrating situation caused by the coronavirus outbreak. There’s no reason to struggle. And to help you get started, AskTraders has developed a useful guide on how you can buy bitcoin from eToro.

The pandemic prompted both the US and other countries to utilize blockchain as a means of providing financial support to citizens. The problem is that the majority of governments don’t have effective mechanisms in place to deliver a UBI. On the other hand, eToro’s G$ might just be able to provide it. 

Despite being introduced at the beginning of September, G$ has attracted the attention of many influential people and countries. At this moment, more than fourteen countries saw their citizens become the users of G$.  G$ coin creation and transactions are automatically visible to all users, and additional usage of side-chains helps by lowering the costs of transactions.

Gorica Gligorijevic

Gorica Gligorijevic

Gorica is a Serbian journalist with more than a decade of experience in print, web, TV, radio journalism, and the publishing industry. Past several years dedicated to web journalism and cryptocurrencies trading and investing.

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