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GoodDollar wallet launched a $100,000 Covid-19 relief package for the eToro employees since it used the UBI wallet before as a part of the pilot. In today’s altcoin news, we take a closer look at this package.

The GoodDollar wallet is a non-profit initiative that works to deliver a universal basic income with the help of blockchain technology and with the wallet they hope to deliver basic income by facilitating $100,000 in coronavirus relief donations for the employees of the investment platform Etoro. The platform used the UBI wallet of GoodDollar to facilitate their employee relief campaign with more than 300 employees using the wallet to donate $100,000 to local Israeli charities and to support the work that was done to fight the pandemic. The four charities are Sheba Medica Centre, no2violenece, Leket Israel, and Kaplan Medical Centre. The CEO of eToro Yoni Assia said:

 “This initiative was not just about doing good for others with a charitable donation, it was about showing the strength of a collective committed to social impact and global welfare. The coronavirus pandemic reinforces the argument for a universal basic income. Direct cash transfers and relief packages are now part of the everyday political conversation demonstrating the importance that regular minimum income plays in bolstering an entire financial system.”

The goal is to produce a framework for delivering global and sustainable universal basic income with the help of blockchain technology. The universal basic income is the idea to provide people with an unconditioned cash payment or a policy proposal that has grown in global awareness and popularity over the past few months due to the coronavirus pandemic.

The vision of GoodDollar is to provide access to basic economic assets and to give away small amounts of basic income to onboard new users into the digital asset space. The solution includes the cryptocurrency G$ which is distributed as UBI. GoodDollar partnered with eToro back in January to launch a test of the payments system. The goal is to stimulate trade in GoodDollar coins between people in a closed marketplace. Over the five-month closed beta, hundreds of employees conducted thousands of dollars worth of commerce. Yoni Assia added:

“GoodDollar is all about leveraging innovation and network effects to inspire more people to do good for one another. This is the perfect book-end of one chapter, as we strive towards greater impact and giving every person the opportunity to do good for others, in our public release.’’