Conclusion

“Basic income is not a utopia; it's a practical business plan for the next step of the human journey.” Jeremy Rifkin, Economist

Until relatively recently, basic income was dismissed as a radical concept that was only embraced by idealists. In 2020, basic income has made its way from the fringes to the main stage. Growing consensus for basic income comes not from a place of utopianism, but rather from a place of pain. While the global economy continues to grow year-on-year, in poor and wealthy countries alike, millions struggle to pay for basic needs and suffer the anxiety and insecurity this confers. The way society has traditionally created growth – through the issuance of interest-bearing fiat currency – has institutionalized a system of inequality where wealth does not trickle down.

Politicians, economists and citizens alike realize that for the majority of people, existing wealth creation and distribution paradigms don’t work. There is growing recognition that economic insecurity for some makes a less stable economy for all, as evidenced by modern financial crises.

The paradigm shift to “trickle-up” economics – financial policies that push liquidity directly into the hands of people – presents the opportunity to explore new incentives to create more prosperity for all. The GoodDollar protocol proposes a practical way to invest in equality and place liquidity in the hands of those who need it. GoodDollar aligns the incentives of all G$ holders, whether they choose to participate as a basic income Supporter or Claimer.

Our mission is to leverage the significant innovations across decentralized finance to create a protocol that can deliver global basic income at scale. With the emergence of distributed blockchain technologies, we can advance people-powered economies that focus on encouraging growth at the bottom of the pyramid. We believe that a distributed global basic income can expedite this transformation.