RighfulShare, an independent initiative by a former South African Member of Parliament, has launched an unconditional universal basic income transfer with UBI protocol, GoodDollar, in South Africa.
A South African 🇿🇦 Universal Basic Income (UBI) pilot leveraging digital currencies launches in partnership with @RightfulShare and @gooddollarorg pic.twitter.com/5DmvTFsYQ8
— BitKE (@BitcoinKE) February 13, 2023
The first initial transfer recipient was sent directly to Delano, a local agriculture entrepreneur from the small town of Groblershoop in the Northern Cape province of South Africa, a region where the formal unemployment rate is around 50%, with many young adults trying to find creative solutions like small businesses and entrepreneurship to earn a living.
The GoodDollar protocol is a community-driven, distributed framework designed to generate, fund, and distribute global basic income via the GoodDollar token (G$). G$ is an ERC-20 digital asset built on the Ethereum blockchain that operates within the emerging ecosystem of decentralized and open finance. GoodDollar leverages new protocols and smart contracts across the ecosystem to deliver its basic income economy.
According to RightfulShare, this is a pioneering step for fairer income access bringing both resources and Web3 solutions to a small town in the country.
With the introduction of an unconditional universal basic income (UBI), RighfulShare aims to show that changing the current socio-economic system that disadvantages those without funds is possible by supporting individuals to meet their basic needs and expand their opportunities.
Alongside the basic income transfer, beneficiaries will also have access to mentoring and learning opportunities. These will range from business development to Web3 education, to introduce and expand the opportunities participants can access.
The project is also being replicated in the metaverse, with the entire town of Groblershoop being built so those across the world can gain context. Those who contribute will be issued a social yield to document their investment on chain, the project says.
Taking Groblershoop to the metaverse. D-Day🚀🚀🚀#rightfulshare pic.twitter.com/jvynZVegM6
— Karen Jooste (@RightfulShare) January 31, 2023
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