Let’s talk about GoodDollar.org and GoodDao

If you wanted to cut a very long story very short you could simply say that GoodDao is a decentralised autonomous organisation (that’s what the acronym DAO stands for) designed to run GoodDollar, a form of crypto-based UBI, which stands for Universal Basic Income.


And this begs three questions: what is a DAO, what is UBI and what is the connection here?


Sit down, grab a cup of coffee and hopefully we can clear this up with a three-part answer.


About the DAO


Both private and public companies rely on hierarchies of executives: nothing happens without the CEO’s say-so and, in the case of a public company, the shareholders’ approval.


This is obviously heavily centralised and as whole point of crypto is decentralisation, a different system was needed. That’s exactly why DAOs exist.


You can think of a DAO as a public company with no CEO and no executives. You and I are the shareholders and we make the decisions.


The structure is more democratic. And this is in the literal sense of the word, without necessarily adding or subtracting moral meaning to the expression.


Any member of GoodDollar can vote. And some members can make proposals. This is based on the amount of GOOD, GoodDollar’s governance token (more on that in a second), you own. Any member who owns over 0.25% of the total GOOD supply can make proposals and any other member can vote.


On top of that, the GoodDao uses blockchain-based smart contracts, which means you don’t need to trust the other party to do the right thing because the contract itself is programmed to do the right thing. And it can’t be changed.


About GOOD


The initial batch of 96 million GOOD tokens will be distributed among claimers (50%), Trust stakers (25%) and holders (25%). After that, there will be an identical annual allocation.


And we hear you, we hear you. But wait a second – you say – owning GOOD is basically like owning shares of a company so how do you make sure the system stays decentralised? Easy. The GOOD token has a fixed value of 0 because it can’t be traded. Yup. Zero.


This is designed to encourage people to hold on their GOOD tokens if they believe in the project, not just because they’re looking to make a quick buck.


About UBI


UBI – Universal Basic Income – is a form financial income designed to meet a person’s basic needs. The idea is gaining traction, especially now that we’re heading towards a reality where technological advances will inevitably automate a lot of jobs out of existence.


The case for UBI has been made a million different times in a million different ways and form, in different geographies but, so far at least, it has never been seriously tried with crypto.


Crypto-based UBI is also aiming to solve another issue by empowering people who live in areas of the world where the banking system is failed or dysfunctional.


With GoodDollar, all you have to do is log in to your account once a day and tap a button.


We’re laying the foundations for something that can, and should, and hopefully will, grow and thrive. Giving people the opportunity to be in charge of their own financial means.



I’ve crossposted this article on readcash, LeoFinance and Publish0x, a social media platform that pays you small amounts to create and/or read content. You need to sign up but it’s 100% free.

Bitcoinea is unsponsored and independent. If you like the content please subscribe to the WordPress website, follow on Instagram it helps a bunch. Also, if you want to support the website with Crypto, any donation in Eth (or any other Ethereum-based token), Btc, Nano, is highly appreciated (see address below) Thank you.

Eth: 0xF8D5df20ed7B80624B02F21661DD0Fd57bf27F0D

Btc: bc1q40wwu2qshpwkpurtyyrhs5t3kq0szrfjlyzmku

Nano: nano_3931o9kgduoqpt6wi6148dbooj8458wzi6djqkiocyqkkfyus71agxbtzg13

Doge: DD7use8x8Zw37XumJcwQxfkiqYR4eo5pjF


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If you haven’t yet, consider using Revolut as a substitute to traditional banking.




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Everyone is calling for crypto regulation in the European Union, but who’s the regulator?

The European Union is not a country. It isn’t a state, it isn’t a geopolitical entity. It is a forum, a virtual table around which 27 sovereign countries sit and discuss. These countries have vastly different interests and priorities and this is by far and away the biggest reason why the EU is in a bad shape.


These 27 countries, with different degrees of strength, are satellites of the United States.


In short, European Union countries just do what the United States allows them to do. Nothing more, nothing less. This becomes glaringly obvious when representatives of the Union are regularly snubbed during international meetings.


The media love to say it has to do with manners but that’s just red herring. The EU isn’t a company and the chairman isn’t a CEO. This is the reason why high-ranking EU officials consistently bash crypto without actually doing anything about it.


That’s because, for the most part, they can’t.


The EU is desperate to save the EURO, which is beginning to look like a failed project, but everytime they propose a new law and pass a new bill, the crypto market goes: “oh no! anyway”, and just carries on.


Within the boundaries of the European Union, you have countries that are at the forefront when it comes to crypto like Slovenia and Portugal, and you also have countries that simply ignore it, like Italy, mostly because they’ve no idea what it is or how it works.


Crypto won’t exactly self-regulate, but because of the way it works, it will keep on playing by its own rules, gradually (and slowly) bending regulators around it.


I am, whether I like it or not, a citizen of the European Union, even though I no longer live in an EU country. There are things about this entity that I quite like – freedom of movement (and trade) is certainly one of those – and others I don’t really like.


But that’s the beauty of crypto. At the end of the day, my opinion doesn’t matter. It doesn’t make a difference. And that’s true for me, you, and at a fundamental level, even for the president of European Commission.



I’ve crossposted this article on readcash, LeoFinance and Publish0x, a social media platform that pays you small amounts to create and/or read content. You need to sign up but it’s 100% free.

Bitcoinea is unsponsored and independent. If you like the content please subscribe to the WordPress website, follow on Instagram it helps a bunch. Also, if you want to support the website with Crypto, any donation in Eth (or any other Ethereum-based token), Btc, Nano, is highly appreciated (see address below) Thank you.

Eth: 0xF8D5df20ed7B80624B02F21661DD0Fd57bf27F0D

Btc: bc1q40wwu2qshpwkpurtyyrhs5t3kq0szrfjlyzmku

Nano: nano_3931o9kgduoqpt6wi6148dbooj8458wzi6djqkiocyqkkfyus71agxbtzg13

Doge: DD7use8x8Zw37XumJcwQxfkiqYR4eo5pjF


Use this link to get a discount on Undone Watches

Use this link to get a discount on your first Glovo order

Use this link to get up to $250 in crypto on your first deposit on BlockFi

Use these links to get free crypto on your deposit CoinbaseCrypto.com or Binance

Use this link to get free diamonds use my CoinmarketCap code

What just happened to me is further proof traditional banks are living in the past

I’ve been writing professionally for six years and that comes with its pros and cons. Pros, I can work from just about anywhere as long as I’ve got WiFi and my laptop, and it’s hard to even call it ‘work’. And the cons? First and foremost, it is very difficult to monetise your creativity, which means that every dime matters.


This I’m why royally pis*ed and infinitely frustrated at what happened last week, when my bank blocked a wire transfer that’s now lost in the ether. No pun intended.


Every element of this story further explains why people are growing increasingly fed up with banks. They rely on procedures that are either obsolete – if that’s the best they can do, or downright dishonest – if they could be better but choose not to.


In short, the company I am now writing for wired me my pay in USD but my bank only accepts EUROs and automatically rejects every transaction that’s not in EUROs. First of all, this is risible in 2022, and secondly, they say it’s “clearly stated” in their terms but it isn’t. I was indeed able to find the paragraph where they talk about this – after some digging – and they keep it very vague and, crucially, they don’t explain what happens to the money.


I tried to get in touch with the bank using every possible channel and after two days, all I got was an email from customer support, written by somebody who clearly didn’t even bother to read what I wrote because their answer was completely unrelated, and a copy-paste message from their FB messenger. I tried calling, which was expensive and useless, because automated customer support has never helped anyone.


They say the money will eventually be returned to the sender but they can’t say when, because “there are intermediary banks involved”.


None of what just happened is acceptable. It’s bad enough that a bank in the EU can arbitrarily choose not to accept this or that currency, including the USD, but it’s crazy that the money isn’t returned immediately if they don’t. And not only do I have to rely on a middleman – the bank itself – but said middleman relies on more middlemen.


Part of the reason why I love crypto is trust is (almost entirely) removed from the equation, and nearly everything you can or can’t do is by design and straightforward. Transactions take seconds, minutes or hours depending on whichever crypto you’re using but again that’s by design, the middleman factor is only present if you’re using exchanges and even then things are usually more straightforward than they are with banks.


I’ve been doing everything I can to avoid banks as much as possible, because in my experience every other option, including other centralised options like Revolut are much better. Or at least not as bad. The only consolation is this is a losing battle for them.


Crypto is a game that plays by its own rules and will eventually bend regulators and traditional financial players around it. They just haven’t realised it yet.


I’ve crossposted this article on readcash, LeoFinance and Publish0x, a social media platform that pays you small amounts to create and/or read content. You need to sign up but it’s 100% free.

Bitcoinea is unsponsored and independent. If you like the content please subscribe to the WordPress website, follow on Instagram it helps a bunch. Also, if you want to support the website with Crypto, any donation in Eth (or any other Ethereum-based token), Btc, Nano, Xmr, is highly appreciated (see address below) Thank you.

Eth: 0xF8D5df20ed7B80624B02F21661DD0Fd57bf27F0D

Xmr: 8BZ1CtEoQsu1AekeSRmum5Y9o15RGjnbGbY34EertEYxYtXLsTwsH4bHQQrDf1Azz2du9h6NucR5aTxtMHpKRH38QhCkDu6

Btc: bc1q40wwu2qshpwkpurtyyrhs5t3kq0szrfjlyzmku

Nano: nano_3931o9kgduoqpt6wi6148dbooj8458wzi6djqkiocyqkkfyus71agxbtzg13

Doge: DD7use8x8Zw37XumJcwQxfkiqYR4eo5pjF


Use this link to get a discount on Undone Watches

Use this link to get a discount on your first Glovo order

Use this link to get up to $250 in crypto on your first deposit on BlockFi

Use these links to get free crypto on your deposit CoinbaseCrypto.com or Binance

Use this link to get free diamonds use my CoinmarketCap code