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The GoodDollar White Paper
Gooddollar.org
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GoodDollar: A Distributed Basic Income
Overview
Introduction
The GoodDollar Basic Income Economy
Value Adoption and Network Effect
Monetary Tools and Controls
Smart Contract Architecture
Distribution & Impact
Phased Launch - GoodDollar project is launched gradually in two or more phases. The initial phase (“Phase 1”) shall commence on the date of the launch of the project and end at the commencement of the next phase. During phase 1, the availability of the product developed by GoodDollar  may be limited in scope as further detailed in the Terms of Use. GoodDollar does not undertake to complete Phase 1 or to continue the deployment of next phases. Furthermore, GoodDollar shall be entitled to cease, freeze or terminate the GoodDollar project at any time and for any reason at its sole and absolute discretion. In the event of termination of the GoodDollar project, its smart contract system may be voided, which could cause Users to lose access to their e-wallet and G$ Tokens. In the event of dissolution of GoodDollar, the cryptocurrencies stored in the Reserve shall be used for the benefit of GoodDollar’s general principles at its sole discretion, and Users shall have no claim whatsoever on the Reserve.
Information Only - This document is for information purposes only. It therefore cannot be accepted or thereby turned into a binding contract. Neither does it offer any warranties, guarantees, or conditions. Except as to the factual representations in this document, GoodDollar Limited disclaims any other representations on the same subject matter, whether written or oral. Given the present disclaimers, GoodDollar Limited does not and cannot reasonably foresee that any party will rely to its detriment on the information in this document, thus foreclosing any claims to detrimental reliance thereupon.
No Initial Coin Offering - GoodDollar is a non-for-profit organization which is funded through direct donations. G$ tokens are provided to users for free. Therefore, GoodDollar is not conducting an Initial Coin Offering. Any funds sent through the GoodDollar protocol will not be used to fund the operational budget of the GoodDollar Limited or enrich the team in any way.
Forward Looking Statements - We may have provided you with materials or otherwise communicated information to you that includes predictions, estimates or other information that might be considered forward-looking ("Plans"). While these forward-looking statements represented our then-current judgment, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflected our opinions only as of the date we made them. We have not obligated ourselves to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events. All plans are based upon current, developmental plans, which are subject to change or abandonment without notice. No guarantees or representations whatsoever are made that any plans, specifications or features or otherwise described therein, will be developed by the GoodDollar Limited, or, if developed, will be of the same type, size, quality, location or nature as depicted or otherwise described therein.
Capital Risk - GoodDollar is dependent upon direct donations to fund its operation, therefore GoodDollar may not be able to raise sufficient capital to reach its goals. If GoodDollar is not able to raise sufficient capital to continue operations and development, some or all of the goals may not be completed, and as a result G$ Token may lose some or all of its value and GoodDollar Limited and related services may cease doing business or dissolve.
Limited Control - The G$ Token is not a currency and is not issued by any central bank or national, supranational or quasi-national organisation, nor are G$ Tokens backed by any hard assets. GoodDollar Limited is not responsible for nor does it pursue the circulation and trading of the G$ Token on any exchange. GoodDollar is not obliged to purchase any G$ Tokens from any holder of G$, or to provide its conversion into other cryptocurrency including the one in the Reserve. No one guarantees the liquidity or market price of the G$ to any extent at any time.
Risk of Theft - GoodDOllar will implement reasonable security measures to keep transactions via the GoodDollar protocol secured. However, there can be no assurances that the payments will be secure and thefts may still occur through hacks, cyber-attacks, vulnerabilities or defects in GoodDollar website, in the smart contracts, on the Ethereum or any other blockchain, or otherwise. Such thefts may result in a complete loss of G$ Tokens, cryptocurrency staked by Supporters or disclosures of non-public information. Funds transferred to the GoodDOllar protocol are in no way insured. If they are lost or lose their value, no private or public insurance provider is obligated to offer compensation.
 No Guarantee of Value - The GoodDollar Limited makes no representations or warranties about the value of the G$ Token – in the short-term or the long-term. There is no guarantee that the value of the G$ Token will grow or remain steady in value. The price of the G$ Token may decrease – perhaps significantly – due to unforeseen events, events over which GoodDollar has no control, and events amounting to force majeure.
For more information about the terms of using our technology and related risks please read our Terms of Use
References
Last modified 8mo ago
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