eToro pledges $1 million for blockchain-based Universal Basic Income studies

09 Nov, 2018
by David Robb
eToro pledges $1 million for blockchain-based Universal Basic Income studies

Leading online trading platform eToro has recently pledged $1 million towards a new social project aimed at tackling wealth inequality. The GoodDollar initiative will be exploring UBI and other redistribution systems, and eToro's pledge may go towards the development of a new crypto.

As reported by CoinTelegraph, eToro's contribution to the GoodDollar initiative should see the launch of a new "non-speculative" cryptocurrency, with the aim of paying social interest to those who "have less".

eToro CEO Yoni Assia has claimed that crypto should be increasingly focused on these kinds of issues. In a promotional talk for GoodDollar at this week's Web Summit event in Lisbon, he stated that the "success of new technologies should not be measured only by their ability to power new industries and disrupt old ones, but also on their ability to affect positive change in the world."

eToro is now looking for other organizations to partner with it on this pioneering new initiative.

Read more: eToro lands £5 million advertising deal with UK Premier League clubs

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