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New Financial Projects Gain Momentum in Period of Political Uncertainty

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Less than a week after a new financial blueprint for Europe was proposed, by a 50-strong group led by Thomas Piketty, another pioneering economic system that aims to reduce inequality has been gaining momentum in London.

On Thursday, December 13, the GoodDollar experiment – an ecosystem that explores how decentralised cryptocurrency and blockchain technology may enable models based on universal basic income (UBI) – received widespread praise at The Next Web’s Hard Fork Decentralized conference.

Following GoodDollar’s official launch, by eToro CEO Yoni Assia at November’s Web Summit 2018 in Lisbon, the project has quickly gathered impetus, attracting support from all over the globe.

GoodDollar Official Announcement – Yoni Assia, Web Summit Lisbon, Nov 07 2018

At a time when many leading economists fear a global financial crisis is looming, both Picketty’s bold blueprint for a fairer Europe – which includes significant levies on multinationals, millionaires and carbon emissions to amass funds to improve poverty, climate change, and other challenges – and GoodDollar are innovative alternatives to traditional financial systems.

GoodDollar’s worldwide interest has accelerated since its introduction, at an event in Berlin in mid-November, of an OpenUBI community, formed to encourage collaboration and discussion around UBI and its technological implementation.

At the Hard Fork Decentralized summit, held at Mindspace, in trendy Shoreditch, in the northeast of the capital, and sponsored by eToro – the social trading platform that has invested $1 million in GoodDollar – the project gained more plaudits.

Ira Ryk-Lakhman, a lawyer with Tadmor – Levy & Co. who is completing a Ph.D. at University College London, has joined GoodDollar because she believes “it is the future”– especially for the humanitarian causes that are close to her heart.

She spoke with passion to around 100 attendees at Mindspace. “According to UN data, upwards of 30 percent of funds allocated to humanitarian aid is lost because of corruption,” Ryk-Lakhman said. “This is mind-blowing. Further, over 80 percent of the funds that are allocated for charities do not make it to the final beneficiaries.”

“The solution is staring us in the face. We need to find something that is not susceptible to corruption or bureaucracy. Technology that does not go through the state but reaches the citizens directly. We already know what the future is: blockchain-based solutions, like GoodDollar, are the way forward. This is because blockchain technology is a public record, it is transparent, and it is immutable. As such, it is not susceptible to corruption and bureaucracy.” 

GoodDollar Interview Series – TheNextWeb 2018 – Ira Ryk-Lakhman, Dec 13, 2018

Ryk-Lakhman said that as GoodDollar, a not-for-profit organisation, is focused on improving wealth inequality it is likely to generate great levels of interest and adoption, crucially.

“Hype alone does not suffice to sustain cryptocurrency or blockchain,” she continued. “You have got to have an application: a practical way that we can utilise this technology in real life. What other way is better to get your coin recognised by the wider public than if you show the positive sides of blockchain, and highlight that it is not necessarily affiliated with speculation but rather with innovation, sustainability and charity?

“Using this technology for social impact will drive adoption, which is key to this industry. Blockchain technology allows us to tackle humanitarian crises and to achieve social impact. In 2019 I believe we will see much more application of blockchain technology to that end.”

Talking heads: Dr. Omri Ross, alongside Yoni Assia and Ira Ryk-Lakhman, discusses the technical aspects of GoodDollar

Later, Yoni Assia – who has been thinking and writing about UBI for over a decade– took part in a panel discussion alongside Ryk-Lakhman, and Dr. Omri Ross, an assistant professor in the Computer Science at the University of Copenhagen. The latter co-wrote the GoodDollar position paper, published in conjunction with the Web Summit launch, with Assia, and is positive about its chances of success.

“I’ve been an academic of blockchain for several years, and when Yoni explained GoodDollar to me I could see it was a good idea,” Ross told the audience at Mindspace. “I have been around a few UBI projects and this one is quite advanced [in terms of technical research]. This is a call to the community to help.”

Good turn out: Around 100 people attended the GoodDollar event at Hard Fork Decentralized

Assia revealed that already “around 30 different partners” have joined the OpenUBI community. “We were super-excited to see that we are not the only ones thinking about this,” he said. “There are super-intelligent people around the world that are looking at the same problems and trying to find various solutions.

“We have opened a group [http://t.me/OpenUBI] and, because GoodDollar is a not-for-profit organisation and there is no competition, we are trying to collaborate. We are now collaborating with around OpenUBI with about 30 different partners.”

Finally, Assia stressed the importance of GoodDollar not being centrally controlled. “We want to build something that will change the world and be as decentralised as bitcoin,” he said. “If it is decentralised then it is potentially unstoppable.

Giving people free money is very powerful. If this works, and we are able to create a system that actually transforms network effect into value, I believe all the rest will fall into place. I think it is a case of if you build the main thing, then everything around it will be built, eventually.”

He added: “We are inviting people to participate – whether it is early adopters, academics, builders, and those who want to help us establish GoodDollar through philanthropy.”

Join GoodDollar. The project needs builders, scientists, and experts in identity, privacy, and financial governance, as well as philanthropists and ambassadors. Email GoodDollar at hello@gooddollar.org, contact us via our social media channels (Twitter and Telegram) or join the OpenUBI movement.

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Cryptocurrency Exchange Analysis: eToroX Exchange Review June 2019

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eToroX is a crypto exchange that is a subsidiary of eToro social trading platform. eToroX has been granted a distributed ledger technology (DLT) licence from the Gibraltar Financial Services Commission (GFSC). eToroX represents a bridge between the traditional investing and the new digital world.

  1. Supported currencies

eToroX offers 17digital assets: 5 cryptocurrencies and 10 Tokenized Assets. eToroX is in the midst of creating numerous variations of tokenized and digital assets. Seems like eToroX added the most popular cryptocurrencies to the current listings on its platform. The same strategy has also been used by other exchanges, in their early stages. eToroX’s current range of trading pairs and tokenized assets is surprisingly sizable, considering it was only released recently.

  1. eToroX exchange Fees & Limits

Trading fees refer to the actual cost of carrying out a trade (buying/selling) on eToroX exchange. The fees associated with a cryptocurrency exchange play an important role for users in evaluating the cost of trading relative to other exchanges in the market. Exchange fees currently are:

Withdrawal…

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eToro sponsors Moto2 team American Racing KTM

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– Announcement is the latest stage in eToro’s sports sponsorship programme, following landmark deal with 7 Premier League clubs in 2018/19

eToro, the global multi-asset investment platform, today announced its latest sponsorship deal, signing on as a partner with Moto2 team, American Racing KTM. eToro will become an Official Sponsor to the team and its two promising young riders, Iker Lecuona (@ikerlecuona_27) and Joe Roberts (@joerobertsracer) for the rest of the 2019 season.

Moto2 is part of the internationally renowned MotoGP World Championship, with races held in nearly 20 locations across the world each year. Races are attended by around 100,000 spectators each round, with an online fan base of up to 100 million viewers per event. As a team sponsor, eToro will gain further exposure for its brand through an extensive range of marketing opportunities, including bike and team clothing branding, hospitality and digital rights.

Yoni Assia, CEO and Co-founder of eToro, said: “Moto2 is just like us. Fast, exciting and full of young talent on the way up. It’s a great opportunity to contribute to the development of this team, and particularly its two young stars, Iker and Joe. MotoGP has an incredibly passionate, devoted fan base which is part of the reason this partnership appealed to us so much. We’re going to enjoy working with everyone and supporting them across the season.”

Eitan Butbul, Principal Owner…

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Blockchain Leaders Must Collab-orate For Humanity’s Sake – And Provide Real-World Solutions For The Four Billion People In The Developing World

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By Ziv Keinan, Legal Lead, GoodDollar

Given the developing world has a population of around four billion – and counting – there is an enormous opportunity to use blockchain technology for the betterment of humanity. We should embrace this chance to be a force for good, to fight poverty and provide financial inclusion to as many people in the world. However, to achieve meaningful success for the largest possible number of people, tech solutions must solve real-world challenges, be inexpensive for the user, and – most crucially – be deployable at speed and at scale.

This was the hard-hitting conclusion of the Global Solutions Summit, which took place at the United Nations headquarters in New York City on May 13, a day before the United Nations Science and Technology and Innovation Forum (UN STI), on the first day of New York Blockchain Week 2019. I was one of approximately 500 delegates, and welcomed GSS Chairman Alfred Watkins’ straight talking.

The United Nations building in New York

The developing world is going to be the engine of humanity in the coming years, and many young people are ready and willing…

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