Combining Cryptocurrency and Social Responsibility

Much of the discourse surrounding cryptocurrency centers on utility, functionality, capitalization, and technology. Yet fundamentally, this angle misses one of the essential elements of any network’s success: the people.

Blockchain projects endeavor to decentralize and democratize services. While this ambition indirectly promotes social good, this has never been the outright focus despite the industry’s stance towards improving inclusivity.

Slowly, this reality is changing, as more projects take a birds’-eye view of the industry and its footprint, whether environmentally or socially. GoodDollar is among the organizations leading the social good charge by injecting cryptocurrency into the conversation in a sustainable format.

As a universal basic income (UBI) project, GoodDollar’s aspirations are two-fold: providing users with educational opportunities to engage with crypto, and empowering individuals through its crypto-based income distribution framework. By facilitating interaction with cryptos at an elementary level, GoodDollar hopes to improve financial literacy and to teach people how to engage with cryptocurrency. UBI means giving every adult a set amount of money on a regular basis.

Conceived by eToro CEO Yoni Assia as part of the organization’s corporate social responsibility (CSR) aims, GoodDollar has readily demonstrated blockchain’s power to drive meaningful change in a non-profit format. With its proven model, GoodDollar’s appeal is growing broader. It now features support from crypto enthusiasts and entrepreneurs alongside corporate partners that will also accept GoodDollar as a form of payment. (See Bitcoin Stock Comparison on TipRanks)

Corporate Support For UBI Climbs

The latest brand to join the lineup of corporations joining the G$ initiative is Shopping.io. This ecommerce bridge helps consumers spend cryptocurrencies across major global online retail hubs, including Amazon, eBay, and Walmart. Shopping.io has donated $50,000 to GoodDollar, all of which will be minted in G$ to support GoodDollar’s UBI recipients.

In turn, G$ can be spent at Shopping.io to make purchases of basic household essentials and emergency supplies at the ecommerce sites mentioned above. This is helping forge a synergistic relationship between the two organizations, especially as Shopping.io gains exposure within the eToro and GoodDollar communities while improving the fungibility of G$ in tandem.

Besides for the social good the ecommerce onboarding and fulfillment brand promotes through its contribution, it broadens crypto’s appeal by applying its use case for millions of consumers across the globe. Arbel Arif, Shopping.io’s CEO and founder, concludes, “We loved what GoodDollar was doing and wanted to help in any way we could, so we decided on this impact-driven model, which I believe will bring a lot of benefit to both sides.”

As blockchain adds value across industries, sustainability and social good are two areas where the technology’s impact can truly be felt by billions of people across the globe that have the most to gain from a more level economic playing field.

Disclosure: Reuben Jackson held no position in any of the stocks mentioned in this article at the time of publication.

Disclaimer: The information contained herein is for informational purposes only. Nothing in this article should be taken as a solicitation to purchase or sell securities.


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