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eToro pledges $1M for accepted basic income solutions on the blockchain

Social trading belvedere eToro is blame off a new $1 actor fund to abutment analysis on blockchain use cases for abbreviation wealth asperity – and it is recruiting partners.

The initiative, called GoodDollar, aims to create an absolutely open-source association project. The abstraction is to advance a blockchain-powered wealth redistribution system and lay the foundations for open, accepted basic income scheme.

As part of this mission, the $1 actor agreement will focus on researching ways of implementing a cryptocurrency that pays social absorption to those in need.

The success of new technologies should not be abstinent only by their adeptness to power new industries and agitate old ones, but also on their adeptness to affect absolute change in the world,” said eToro CEO Yoni Assia. “Technology should be used to tackle the great challenges of our time.”

With GoodDollar, eToro wants encourages experts from around the globe to amend the absolute bread-and-butter framework – and use smart affairs and cryptocurrency to build on it.

Inequality is the acute bread-and-butter claiming of our time,” Assia said. “We’re attractive for experts in the fields of decentralized identity, governance, local and global acceptance of banking products, and wealth distribution.”

Earlier in March, eToro closed a $100 actor round of clandestine financing. The trading platform, which touts over 10 actor users, appear it intends to use the cash bang to expand globally, and accumulate its blockchain analysis and development unit.

A few months later, eToro apparent plans to launch a new cryptocurrency-only barter operations in Europe and the US. Just this week, it also launched a new standalone cryptocurrency wallet.

Now the aggregation is attractive to bear on its affiance for cutting-edge blockchain analysis too – and GoodDollar is an important step in that direction.

We are on the hunt for ambassadors to help spread the word about the project, and for funders to help us bear GoodDollar,” Assia added. “So if you’re amorous about using technology for social good, please get in touch.”

Published November 8, 2018 — 14:05 UTC

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