Good Dollar – A new UBI project – My thoughts


GoodDollar has now been up and running 30 days. More than 40 000 wallets has been created ! So I think they have got a good start. But what is it and how to get money? I will try to explain.

What is an UBI?

An UBI (Universial Basic Income) is a free income that everyone can get – without work or invest money. Just go and get it like free money. This one can be claimed once a day.

What problem will it solve?

The international poverty line – currently $1.90 a day – is the threshold that determines whether someone is living in poverty. One in 10 people lived on less than $1.90 a day in 2015, according to the World Bank, but the coronavirus pandemic is likely to push 150 million more into a poverty trap by 2021./Good Dollar

UBI is, what they say, a way to make the world more fare. A lot of millions has not afford to pay food and the most rich own almost everything…That is not fare.


One problem with UBI is the verifying process. Some people love free money so much that they will make multiple account. And you can not really stop them… To be verified you need to take pictures of your face (No ID-card or passport needed) but , well I see that some people will try to fool the system here too.

What will I get?
Every 24 Hours you can go to your wallet and CLAIM your daily reward. The amount is depending of how many is claiming and (as I understand) the value of crypto in the system (read more below)

Real or fake money – REAL

Here is one BIG difference from many others UBI. I have been in other UBIs where they give out tokens everyday – but with no special value. The value will be in the holders hand (market price).
But this time it is more real.
GoodDollar is build of two ”groups” of members.

You and me – and people all over the world. People that want UBI.


People and organizations that want to support this UBI-project.Those people put crypto in to a block-chain interest generating service. The rates is what will be used to make the value for the UBI. With many supporters it will be more UBI to be spread by the claimers.
You have 100USD and put it in the de-fi protocol and get 5% rate. You will get 50% in GoodDollar and half goes to the communiy.

The mechanism increases the number of coins issued relative to the number of crypto assets locked in the reserve.

My thoughts

My first thought is ”why should I join?”. I am not a poor person so why should a take a part of this? Well – I do it anyway and see how it will go. If it goes well I think I need to contribute to the community later.
My second thouhgt is ”how much is a coin value?” . Well – it is a crypto so the market will desire. I will be back in this question when I have found someone sold/bought or used it.

More info:
Article about 30 days of GoodDollar

I have already join UBI as

Do you use UBI? What do you think about the concept?