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A reward of 100G $ will be given to registered users for new referrals and 50G $ for new users as a ‘welcome bonus’. Etoro, one of the world’s leading social trading platforms, has announced that it is funding rewards for the next million users of its Gooddollar project, following the launch of a brand new referral program.

Stablecoin G $ aims to become a digital universal basic income

Gooddollar is a digital coin and wallet founded in September 2020 by Yoni Assia, the co-founder and CEO of Etoro. It provides a digital form of universal basic income (UBI) to citizens around the world by issuing a stablecoin called G $. To date, Gooddollar has supported more than 50,000 users with its digital UBI, with this new referral program set to grow even further.

Under the terms of the referral program, Gooddollar users receive a 100 G $ bonus for each new invitee who signs up. New users will also take advantage of it and receive a 50 G $ Welcome Bonus once registration is complete. Etoro has yet to announce whether these referral bonuses will be limited to a certain amount.

Announcing Etoro’s sponsorship of this new program, Yoni Assia commented:

Real people are hungry to participate in social projects designed to make the world a better place. We are confident that our sponsorship of Gooddollar tokens for new users will support the onboarding of 1 million users to Gooddollar as part of our greater mission to empower more people to experience and use digital currency.

Our support for Gooddollar presents a new model for how business entities like Etoro can use their resources to do good socially, by supporting efforts that educate and prepare people to use digital currencies in a digital world.

Etoro emphasizes that its reserve-backed crypto asset is currently owned by ‘over 50,000 users’ and explains that the Gooddollar network will be expanded by this new referral scheme, which will “ enhance the utility of G $ for global peer-to-peer commerce and varied community use. ‘

According to Etoro, Gooddollar is being adopted by a growing number of social entrepreneurs who are using G $ to fund social projects, including a soup kitchen in Israel and promoting tree planting in Spain.

One of the advantages of digital currencies such as G $ is that they can be distributed to users directly through their cell phones, bypassing governments right away. This is an advantage for countries facing hyperinflation. Venezuela is one of those countries, with one recent report in The Rio Times called it “one of the fastest cryptocurrency adopters in the world.”

To date, more than 99 million G $ has been claimed by users of the platform. Etoro’s Gooddollar isn’t the only crypto project trying to create a digital form of UBI. Projects such as Circles, Myubi, Basic Income Earth Network and Zeropoverty are also experimenting with the cryptocentric basic income concept.

Do you support a universal basic income? Let us know your thoughts on Gooddollar in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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