Connect with us

Trade

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

Published

on

“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 why every year at this precise time the leading charity publishes the latest data showing the gulf between the globe’s haves and have nots.

A Man’s World? But Nothing Without Women

The Oxfam report shows that the world’s 22 richest men have more wealth than all the women in Africa. Furthermore, women and girls are putting in 12.5 billion hours of unpaid care work every day — tending to children and the elderly, for instance — which amounts to a contribution to the global economy of at least $10.8 trillion a year (more than three times the size of the global tech industry).

“When 22 men have more wealth than all the women in Africa combined, it’s clear that our economy is just plain sexist,” says Danny Sriskandarajah, Oxfam GB Chief Executive.

“One way that our upside-down economic system deepens inequality is by chronically undervaluing care work — usually done by women, who are often left little time to get an education, earn a decent living or have a say in how our societies are run and are therefore trapped in poverty.

“If world leaders meeting this week are serious about reducing poverty and inequality, they urgently need to invest in care and other public services that make life easier for those with care responsibilities, and tackle discrimination holding back women and girls.”

“Bloomberg [has] just shown how 500 people last year got over a $1 trillion richer. While estimates of overall wealth and the wealth share of the bottom 50 percent fluctuate from one year to the next, the overall picture of incredible levels of wealth inequality remains shockingly high.”

We are family: Three children in the Philippines stay close for warmth and security (Oxfam)

Shock Factor

Much in the same way climate change should have been on the agenda years ago — long before Greenland’s glaciers began to melt and ahead of Australia’s ongoing and unprecedented wildfires, which have claimed the lives of approximately 500 million animals — it is time for the world to wake up to financial imbalance, and take action now.

GoodDollar is a not-for-profit foundation whose driving ambition is to reduce global wealth inequality through a combination of universal basic income (UBI) principles and blockchain. Aside from the headline number of 162 billionaires owning as much as half of the world, a raft of other calculations from the new Oxfam report justified our mission and strengthened our resolve and determination to strive for financial change.

Consider the following:

  • The 162 richest people on the planet boast the same wealth as the poorest 50 percent — 3.85 billion — in the world.
  • Half the global population earns less than $5.5 a day ($120 a month).
  • 500 people last year got over a $1 trillion richer.
  • Getting the richest 1 percent to pay just 0.5 percent extra tax on their wealth over the next 10 years could raise enough money to create 117 million jobs, including 79 million in education, health and social care, which would help close the current care gap.

The stage is set: help us at GoodDollar to reduce global wealth inequality, before it is too late.

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.

Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

Published

on

Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

Continue Reading

Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

Published

on

Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

Continue Reading

Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

Published

on

Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

Continue Reading

Press Release