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Not-For-Profit GoodDollar Secures Funding For 2020 As UBI Project Celebrates First Birthday

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GoodDollar, the non-profit organisation aiming to reduce global wealth inequality through blockchain technology and universal basic income (UBI) principles, celebrates its first birthday this November.

The concept is that all members on the platform claim cryptocurrency – GoodDollars (G$) – every day, helping to build greater financial stability and empower the poor, lifting them out of poverty. Once launched, GoodDollar hopes to create new trade, new marketplaces, new entrepreneurs, new jobs, new economic growth, and new business for everyone.

Yoni Assia, Chief Executive of multi-asset investment platform eToro, officially launched GoodDollar at Web Summit 2018. This year, Mr Assia pressed the case for a decentralised payment and donation network that distributes its value to all users equally through built-in UBI. Read more here

Boosted by the initial $1 million funding from eToro, the GoodDollar team is on course to launch a beta version of its wallet application in early 2020, following successful testing on its alpha prototype earlier in the year.

The alpha version of the app was launched in June, in conjunction with the GoodDollar Community website – part of which is GoodDollar Forum, a microsite for developers in the ecosystem.

More recently GoodDollar officially became a not-for-profit company limited by guarantee (LBG) in the United Kingdom, and the team is “working hard to establish ourselves in the eurozone, to facilitate further funding to the project”, according to Executive Director Tal Oron. 

He continues: “I’m pleased to report GoodDollar has secured additional financing for year two, helped by eToro pledging an extra $1.5m. Additionally, we have applied for a Blockchain for Impact grant from the EU Horizon 2020.”

GoodDollar has already attracted much interest in the traditional UBI community, and far beyond. In April, at UBI-Nordic 2019, GoodDollar became the first blockchain-based project to present at an international Basic Income Earth Network (BIEN) event. Dr Sarath Davala, Vice Chairman of BIEN, was encouraged. “Several people told me that they appreciated the new things they learnt, and understood GoodDollar’s vision,” he said. “It is extremely important that these two worlds [traditional UBI and blockchain UBI] meet in a humble way, so as to see what there is to learn from each other.”

Last November, just a fortnight after the Web Summit introduction, GoodDollar played a central role in establishing the OpenUBI ecosystem, which encourages collaboration and discussion around UBI and its technological implementation. The community’s Telegram profile boasts around 350 members.

Also of note, GoodDollar hosted Hackinequality – thought to be the world’s first hackathon for reducing global wealth inequality using decentralised technology – in mid-March, at eToro’s Tel Aviv offices. Ron Adam, the Israeli ambassador in Rwanda, attended the event and commented on Twitter: “Excited to be present at the first @TheGoodDollar hackathon in TLV where young Israelis compete on the most #Innovative solution to narrow the gap between poor and rich of the world using #blockchain and creating #Socialimpact to achieve the #SDGs. Ready for #Rwanda!”

Representatives of GoodDollar have been spreading the word and promoting blockchain for good at various high-profile technology conferences around the globe. For example, Legal Lead Ziv Keinan spoke at an event related to the United Nations Science and Technology and Innovation Forum (UN STI), marking the start of the influential New York Blockchain Week 2019. He said: “Unlike artificial intelligence, which can be a dangerous tool for totalitarian regimes, with blockchain we can create systems that are distributed and not controlled by a single entity, who can use and manipulate them. This UN committee should focus on this technology and see how we can use it to do good.”

And in September, Mr Assia presented the GoodDollar at the OECD Blockchain Policy Forum in Paris. He argued that because of the development of cryptocurrencies and blockchain technology in the last decade, there is “a new opportunity” to rebalance wealth distribution.

As it enters its second year, GoodDollar looks set to build on its impressive first 12 months. “We’re super-excited about 2020,” adds Mr Oron, “lining up partnerships to help reach the billions that need a better, cheaper, more accessible payment method, which by extension will support more people coming out of poverty.”

GoodDollar: Changing The Balance – For Good

Do you have the skills to help the GoodDollar project? We need builders, scientists and experts in identity, privacy, and financial governance, as well as philanthropists and ambassadors. Contact us at hello@gooddollar.org, via our social media channels (Twitter, Telegram, or Facebook), check out our community website, join the OpenUBI movement, or visit our GitHub page. Our YouTube channel is worth exploring, too.

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Bitcoin of 2020: On the Rise, Better Established, and Much More Stable

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Why Bitcoin is Continuing to Climb, from More Solid Ground Than Ever

Last night saw Bitcoin once again soaring up the market, with a 6% increase over the course of three hours. This continues a fantastic start to the year for the world’s largest decentralized currency, which is up 30% since January 1st, and pulling along with it several other primary cryptocurrencies, including Ether, Litecoin, Ripple, and Dash.

A Significant Moment for Bitcoin

January 2020 is certainly proving highly significant for Bitcoin. The sharp increases and painful falls of the past pale into comparison with now, as the current increase seems to come from a far better-established position with much more stability. Furthermore, the activity around Bitcoin is expanding in exchanges, banks, and other financial institutions, together with its legitimacy and relevancy.

World Economic Forum 

Last week, at the World Economic Forum annual summit at Davos, Switzerland, Bitcoin, cryptocurrencies, and blockchain technology were honored guests. Many of the billionaires, bankers and treasury ministers who gathered in Davos are still fairly skeptical about the decentralized economy, but despite this, they also realize that they cannot stop it.

The World Descends into Chaos, And Bitcoin is on the Rise

It seems that the more agitated the world agenda, the more Bitcoin’s popularity grows, and strengthens its status as a hedge against the traditional markets. The continuous climb of the stock…

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World’s Richest 22 Men Are Worth The Same As All 325 Million Women In Africa — New Oxfam Report Reveals

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“Wealth inequality remains shockingly high.” This is the sobering conclusion of Oxfam’s latest report, published on the eve of the World Economic Forum Annual Meeting 2020.

The 162 richest people on the planet boast the same wealth as the poorest 50 percent — 3.85 billion — in the world.

From Tuesday, January 21, close to 3,000 delegates — including 53 heads of state — from 117 countries, will participate in the WEF summit in Davos-Klosters, Switzerland. According to the website blurb, the WEF Annual Meeting is “the foremost creative force for engaging the world’s top leaders in collaborative activities to shape global, regional and industry agendas at the beginning of each year”.

This year’s topic, for the great and the good of the business world and politics, is “stakeholders for a cohesive and sustainable world”. While the hellish fires raging in Australia fan the flames for climate change, the perverse irony that most of the 774 public speakers will have been flown into the summit will not be lost on the people who are truly concerned about the heating of the world.

Similarly, that many of the wealthiest people in the world will gather to no doubt use the WEF platform to further boost their richest, through additional business deals and contacts, while vowing to help those less fortunate is alarming to Oxfam. Hence…

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Cryptocurrency Prices Rally Towards Double-Digit Gains in 2020

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The cryptocurrency market has started 2020 with a huge bang, expanding by an impressive 23% within the first two weeks of the year. The overall market capitalization of the cryptocurrency market – a measure of the size of the market – has grown from $192 billion at the start of the year, to well over $240 billion by the middle of January.

Leading the pack is Bitcoin (BTC), which constitutes more than 65% of the overall market size. Going from just under $7,200 at the end of 2019 to a high of $8,800, Bitcoin recorded double-digit gains within two weeks. January 14 saw a spike of more than 11% in Bitcoin’s price, fuelling speculation that the two-year-long cryptocurrency recession could finally be over.

Bitcoin Price Chart

Among the many factors that contributed to Bitcoin’s price increase was the geopolitical upheaval emanating from increasing tensions between the USA and Iran, which led to a flight of safety capital by investors, to safe-haven assets such as gold. Already established as a manifestation of digital gold, it seems hardly coincidental that the prices of both gold and Bitcoin went up.

Another catalyst for the increase was the official launch of the CME Bitcoin options on January 13. The…

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