Financial Inclusion for the World with GoodDollar - Green Pill #47

Transcript

[Music] what up coordination we have anna stone and hadar rottenberg the co-founders of get coin on the pod today to talk about financial inclusion for the world with good dollar which is a basic income protocol that is a people-powered distributed framework to generate finance and distribute a daily basic income um since good dollar has launched in september of 2020 it has 450 000 active users 450 000 that's a lot um 158 million good dollar has been delivered which equates to almost 300k worth of us dollars so through these through good dollars tokenomics and integration with different d5 protocols

good dollar is starting to have a social impact in the areas that its community claims good dollar every day and basically we talk about all the things with pro-social applications democratic dows civil resistance in this in this episode and i think the good dollar is just an example of of a project that's really working on a pro social application of d5 and that's why i wanted to highlight them today so uh season two about of the green pill podcast is all about digital identity and civil resistance we do cover a little bit of that in this episode and i think that it's a it's a good example for the builders out there of a project that is building something that is deeply pro-social and good for the world and leverages crypto rails so really

proud to present to you the good dollar founders on the podcast today enjoy the opera crypto browser is the world's first web browser built for the crypto community with web3 support and a non-custodial wallet opera lets you access defy apps quickly and easily the opera wallet has buy sell and swap features and of course lets you view your beautiful nfts but the browser still lets you use any crypto wallet extension you prefer giving you the choice and flexibility for the web3 world opera lets you view and manage all of your assets across all the blockchains all at once and offers seamless multi-chain support between ethereum bitcoin polygon binance chain and other evms and layer twos but opera goes even deeper than that opera has a built-in home page for crypto natives with the opera crypto corner with price charts news feeds nft updates to make

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people who are the most in in need of universal basic income and and how that actually helps them pursue their purpose if you will universal basic income for anyone who's not familiar here abbreviated as ubi is the idea of an unconditional income that's granted to people irregardless of uh your employment status your age etc the idea is that by being a human on this earth you deserve some sort of basic financial security and given with that financial security um you will be able to better become the best version of yourself and better pursue

your purpose and through that uh make the greatest contribution to society at large and so good dollar is a crypto based uh protocol approach to that right because everyone loves the idea of ubi for the most part or many people do but then it's always followed up with okay well how are you gonna do it how are you gonna pay for it and one of the cool things about crypto and blockchain is that it actually gives us the financial and technological primitives upon which we can actually uh build something like a global crypto sustainable ubi program at scale right and so good dollar is our

community driven attempt to do that right now we've been building good dollars since around 20 2019 if you will and to date it's i think the world's largest universal basic income community in the world um there's a set over 450 000 people around the world who have opened good dollar wallets and have claimed good dollar we have around between 50 to 70 000 people uh logging in using good dollar on a daily basis whether that's to claim the ubi or to use it um peer-to-peer or for all other sorts

of interesting use cases which we can get into the protocol has distributed um over 250 000 directly into the hands of people which you know two and a quarter million dollars is a small figure for defy but not when we think about it in the context of this being money that's generated completely on chain through using uh d5 yield protocols etc and um that's that's what we've achieved to date and we're really just at the beginning so um excited to share more with you yeah well uh over 157 million good dollar

distributed and 450 000 active members that's quite impressive for a project that's only been around for a little while how it works so if i'm a citizen of the world how do i get good dollar how do i get involved so the idea kevin is you know the idea that we we solved is like how do you create a system that really is simple for everyone but that's based off of um decentralized blockchain technologies which we know are um sometimes come to a head in terms of the design and the user experience so first and foremost is anyone in the world can sign up uh to become a member of the good dollar community right so it doesn't matter

whether you're in colorado or new york city or in nairobi or new delhi um you can sign up and claim good dollars you can do that directly at wallet.gov.org now once you get there you'll be prompted to create a very simple non-custodial wallet right so the idea is is for most what particularly when we started building um opening up a meta mask is not an attractive proposition for someone who is not financial who does it who's very little technological basis and is anything but the most financially savvy right so the idea is creating a very simple ubi wallet that

anyone can create an account with using um the internet in the way that they're used to using it which for the most part is google and facebook right so when you sign up for a good dollar you're actually prompted to create a non-custodial wallet and within that there's primarily a few key features claiming ubi and beginning to use your ubi right send and receive in form of a circular economy and enabling people to use good dollars as um a complimentary currency in all of its benefits right particularly when we're talking about the world's most financially underserved who for all intents and purposes do not

have more money left at the end of the month right so the idea is let's get people into non-custodial wallets very easily very simply let's make sure that once they get there it's clear what you're supposed to do which is essentially claim the universal basic income and really importantly beginning to connect people to the other members of the good dollar community that enable them to really create value around that currency and enable them to actually begin to use that currency um in a peer-to-peer way and so um the idea is so anyone can get good

dollar right and and within that ecosystem obviously your use cases are slightly different depending on where in the world you're from what geopolitical context that you're living in but the idea of the global uh universal basic income economy is that everyone no matter who you are has a role to play and through you know through this global digital connection we're actually able to create more value together um whether you're rich or whether you're poor if you will so just to create color there if i donate my good dollars right so i claim every day but there are people who

are crowdfunding in good dollars and so i personally um to this day donate my good dollars sitting from new york to people all over the world and that's an example of how no matter how much money you have there's a role for you in this economy in terms of growing a universal basic income economy that creates more value more wealth for the people who need it the most um in underserved populations and underserved countries yeah i just think it's so beautiful to have crypto use cases that are serving the median citizen of the world someone whose financial life is their job and not their investments because i think if crypto is really going to go mainstream

well 99 of the world doesn't have a ton of investments to put in this highly speculative economy they're going to want to have use cases that meet them where they're at so i think that that's really important work definitely and i and hadar jump in at any moment here but i i just like to say that think of the people who are most in need of decentralized financial services right think of the people you know there are these big figures out here 5.5 billion people remain under banked that means underserved by financial services basic savings credit payments right of that we get to the 1.7 billion unbanked people who have nothing right

and think about the reality of what it takes to get into crypto you need to be able to first of all have money to speculate with that's the first thing you need to have money that you're willing to put on the table and you need to be for the most part you need to have all of the financial credentials required to buy crypto through a fight through a centralized exchange right and so when we're talking about the under banked or the unbanked there's a mismatch right decentralized finance crypto is not meeting the people who who are in the most in need of it right and so good dollar you know in addition to the ubi economy is designed

to actually solve for this problem how do you get someone who is under banked and doesn't have a government-issued id and doesn't have a bank account and doesn't have a credit card and isn't going to pass the binance kyc and doesn't have a hundred dollars to throw away on bitcoin or even 20 bucks to throw away on bitcoin right how do you actually onboard these people into the decentralized financial inter infrastructure which is where we believe there's going to be that leapfrog innovation and ultimately um going to provide you know d5 is going to be the infrastructure that's going to provide payment credit savings products etc to people who will never be banked

they will always be unbanked but they will be go through d5 right yeah i mean i i think that you know it's so important to provide those use cases to to those everyday people who don't have money to spend and speculate in these economies i'm wondering what these people are using good dollar for when when they get it so i'm looking at dashboard.good dollar.org and it looks like a thousand good dollar is worth about 20 cents are they mostly changing it into a stable coin and then using that to pay for goods and services in their lives is there a circular economy within the good dollar economy what can you use good dollar for once once you have it and what gives the good dollar actual value sure so let's talk first about the good dollar

token model and then we'll talk second about the good dollar youth cases because i think they're actually um the fact that good dollar has a token model and it is real money with a real u.s dollar price uh despite its you know having a relatively small market cap is critical to how it's used okay so i think we should we should tackle um one by one the first thing that sets good dollar apart with its token model is like like i said everyone thinks ubi is a good idea but the question is how do you actually [Music] create a universal basic income model that is inherently sustainable and scalable

and supports itself and for this um the team of people who brainstormed and worked on the good dollar model we were very much inspired by the principles of impact investing right how can we actually create use tokenomics to create an asset that is a wealth distribution mechanism in and of itself okay a wealth creation and distribution mechanism in and of itself and so the principles that we used in terms of designing the basic income economy is that one it needs to be liquid at any price right so for that we

deployed on some of the most well-known d5 primitives you're basically we created an automated market maker for a reserve based currency okay so good dollar is a reserve based currency there are stable coins and one day there will be more coins in the reserve and as good dollars are as money enters the reserve new good dollars are created this means that no matter what good dollars can always be sold back to the reserve it is always liquid okay this is very very important second thing that we asked ourselves is how do we create something that's stable enough to be used as a medium of exchange right so we no one wants to be

we've all heard the story of the guy who spent 10 000 bitcoins on pizza no one wants to be that guy no one wants to create the currency or be the person who's doing the commerce in the token that ultimately has that big of a fluctuation right so we wanted something that was actually stable enough that our members and our users would be comfortable using it as a medium of exchange you're not worried that you're going to miss the next big pump and pump right so an anti-pump and dump token right and the third the third element here though was um again if we wanted to build something sustainable we would need to the token

itself would need to be an asset that is attractive okay attractive not just for the ubi recipients to hold but attractive for anyone to hold by because of the nature of it being a wealth creation and wealth distribution asset right and so we knew it was important that the token would appreciate very gradually very slowly over time um in order to do that so we launched good dollar with and and i'd like to give a shout out here to tomorrow barrio who is me and hadar's partner who worked with us on to create this this model this is really a lot of his work if you will and so with that we

created the token model which is based off of we wrap other yield protocols or other sources of funds for defy and as money is created that money adds to the reserve and mints new good dollars and good dollar as a result since we launched the token has appreciated very very steadily very very stably um around 76 right so kevin to your point that kicked off this question if you claim every day for a week about you get approximately 20 us dollars worth of good dollars at today what's really interesting and important to think about though

is first of all where that money is going to which populations right what are and and really what is the aggregate impact of that money not just on day one or week one or month one but over years and at scale with hundreds of thousands or millions of people okay so that's a bit about the token model hadar do you have anything else to add there um sure so i think that um you know the model for good or from the beginning it was an effort

and of of different um you know of different schools of thought that came together and trying to create something that was designed to be a currency from the beginning um not just the token like um like most projects but something that can actually be uh be a currency so uh yeah tommer came from his background he's in local currencies and the onasia you know he's from capital markets and i was bringing more of the um i guess the modern monitor modern monetary theory of how money should work and how how can

we so the main thing we thought about is how can we bootstrap uh something that will actually might someday be uh be a currency um for the internet and a currency for for the people you know something that that's really a public good that's governed uh by the people that uh that use it and that is freely available for everyone and um you know everyone can have access to it and it's not not excluded yeah what what are the uh what are the top countries or geographic populations that you you see claiming good dollar what are the most active regions

so on the whole um the most you know the the the leading countries have flip-flopped a bit from launch till date but i'll tell you nigeria vietnam brazil india indonesia argentina venezuela at one point colombia had a very active population for the most part they're places that have you know very high degree of cell phone connectivity relatively high degree of smartphone penetration and a lack of stable fiat currency and lack of economic opportunities right so this was an idea that we discussed you know reaching these populations was

part of the original vision of good dollar if you will and so it's also part of the the design decisions that we made behind a daily universal basic income distribution right so the idea is that um good doll you're you're logging into your good dollar wallet and you're claiming it because you really need it or have a use for it right so that's the the country [Music] that we're popular in the countries where the users are returning day and day again and really uh claiming their good dollars beginning to use their good dollars is the exact markets where we hope to see

it flow to wow i mean i i think that just doing some quick math here by the way if you go to dashboard.good dollar.org this i'm looking at the stats on another monitor over here and just thinking about the stats that you just gave me if you claim every day for a week that's about 20 us dollars i think you said and so uh 20 times 50 is about 20 000. so i think like when he says 20 seconds okay so i think i mean i think this is the if you're a user but i think this is where this is where things do get really interesting is starting to think of the aggregate impact kevin like think about someone who ultima think of i mean i i can i don't want to reveal too much about the

personal stories of numbers in our community but needless to say like most of the people in our community are members who are really actively looking for the ubi are people who don't have other sources of passive income that they're very smart they're very talented they're but they're not investors okay and they don't have other sources of public of passive income so think about a situation even just like a savings group which is as you know a very popular way for people to uh access credit and build wealth in many underserved populations right typically these are groups of 20 people that come together and actually pull their funds so that in the case of an emergency there is ten dollars to take a loan right there are thirty dollars to

pay school fees etc when we think about that with the good dollar context each user is getting around 21 cents a week in passive income that's almost a dollar a month okay now multiply that by 20 friends you bring 20 friends together that means if you're claiming every single day by the end of that month you have almost 20 dollars collectively as a group okay that otherwise you had no access to okay now think about that over the course of a year now think about what you can do with those funds which are passive income that you have above and beyond the money

that you make in your salary whatever it may be and you actually can start to experiment with that you actually can use that to begin to supply liquidity into centralized finance you can use that to create a track record to start to access more credit as a group etc so the possibilities and we see people doing this for the record like in the good dollar philippines there's you know we have someone who's actually spearheading um like a savings group using good dollar and getting people to collectively save together etc and like i said we're at the beginning of our journey so we really fundamentally believe that as as defy

matures and the financial instruments you know become less degenerate and more focused off of these actual use cases of people who need credit savings etc that good dollar is going to be a very very powerful on-ramp for those populations but more than a powerful on-ramp give them a meaningful amount of money that enables them to learn by doing and really kick-start their financial empowerment journey right really start that journey and that's i mean for me and hadar and the whole community and everyone who's worked on this project i i can tell you that's been probably one of the most exciting and meaningful

meaningful things for us is seeing people actually going from being ubi recipients to actually through months and years of working with good dollar um becoming active defy users right people who then take their good dollars and put them in liquidity pools and help to facilitate cash out and open up micro businesses for cell phone minutes for good dollars and and actually are using the funds to support this larger decentralized finance empowerment journey it's really remarkable to see truly coin shift is a leading treasury management and infrastructure platform for dows and crypto businesses who need to manage their treasury operations

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network is creating bankless infrastructure for circular trade and mutual credit networks to benefit small businesses and local economies all on selloff follow along on twitter to learn more about how cello is accelerating refi summer for a positive impact on people communities and the planet if you're attending ecc visit the cello saloon to learn about what's happening on the front lines of refi from industry experts yeah i mean i think that one of the things that's most incredible is that in some of these communities even a dollar here and there goes a long way and then you multiply that times many people and over time and you're saying that's how the financial empowerment in some of these communities really starts yeah definitely i i think the i think the other the other thing that i'll just throw in there is that

i think one of the amazing amazing things we've seen about working with a web 3 infrastructure is that um the good dollar ecosystem really disrupts this like uh donor beneficiary paradigm right so i'll and i'll explain what i mean by that which is that there are a lot of ubi experiments and a lot of projects that are focused basically on like well let's see what happens if we give free money to people and they're donation based and like they all basically result in the same response which is that giving money to people improves people's lives right like that's the that's the that's the the result that comes up time and time

again but with good dollar what we see is that even giving people money in these really small amounts has the potential to create life-saving or life-changing impact because the way that we're the way that the web 3 infrastructure is designed is that people don't need our permission in order to do something with good dollar if that makes sense so the users themselves the members themselves once they get it once they have that aha moment they are able to then go use this good dollar money as a tool that enables them to do the stuff that they want to do and use the community that's been

created as their ecosystem so for example we have many examples of students who have actually crowdfunded to pay their uh to pay their tuition bills from the good dollar community okay we have examples of donations and causes like positive causes that are also crowdfunding directly from the community we actually like have uh there's a community initiative up there right now called crypto for her which is all women leaders from colombia brazil i think we have turkey there we have south africa there etc women who have opened up wallets for their community

groups and are openly crowdfunding from other members of the community they don't need us they don't need us they're using this ubi infrastructure to use it to for their own goods the micro entrepreneurs that have open good dollar businesses primarily around mobile minutes and cash out they don't need us right they're just using the ubi system and the openness of it and the fact that it's inherently uh without middlemen right that it's that it's truly decentralized to access it and build in value hack on top of it and this is exactly um the

goal of a ubi economy is to give people some amount of funds that enable them to really create their own opportunities and it's happening in a truly digital global context um yeah so in this context we also have um the the simulator that we built um that shows what's the potential of the good older economy um once we reach you know larger market caps so this is what we're doing uh right now you know with a very small small market cap but you know our vision and our dreams and hopes is

that you know we are able through the d5 community to reach a much larger much larger market cap and to be able to distribute a much more meaningful ubi to people but on but not only that [Music] we are hoping that also in the in the near future um because today the ubi is distributed um to a lot of people so everybody gets a small amount so definitely partnering with uh like anna mentioned saving circles can go uh can make a big difference but also um taking some of the ubi that we that we generate

and direct it to specific causes it could be building specific um you know public goods it could be funding uh local ubi you know for local communities that would give them a larger amount of ubi that would enable them to do more meaningful things and much more quicker yeah i mean i think it's really interesting to see this journey of community members of good dollar becoming leaders in the community whether that's creating marketplaces or creating jobs through the dow or just being involved in local circular economies based off of good dollar yep that's the and i mean that is

the fundamental to what we're trying to actually do is to set up the you know we're we're setting up a money infrastructure right we're setting up a money infrastructure i know kevin one of the things that you talk a lot about is this idea of the legos right the money legos and good dollar is actually um it's one part of the money legos which is actually focused off of giving people the initial funds to be able to explore the world of decentralized finance in a meaningful way while also you know

giving money as a tool that enables them to really create more commerce create more value create more gdp within this own uh global digital economy yeah so it's kind of like a distribution mechanism that uh onboards people into the digital economy i have some questions as a technologist next but but i'm not sure if there's anything else to say about the social or economic layers before we get into that um let's get into the technology i mean why not the social the social and the economics the social and the cultural stuff is i think one thing i will say to leaders to to to your podcast and to your audience in

particular is that i think probably like hadar and i you probably probably have a leadership of people who are really attracted to blockchain and working in this space because of its transformational and revolutionary potential in terms of building a better money and a better economic paradigm right that's what attracted me that's what attracted hadar that's what attracted all of the team of people who work on good dollars really a sound foundational belief that not only is that like that is the reason to work in d5 for me okay and i've worked in d5 before doing this and and i know from for myself

personally the reason to build these solutions is actually to tackle the big the big social questions right and so the one thing that i will say to your audience is that it's really it's been very you know for me personally it's hard to sometimes stay motivated because it's so obvious that the most the vast majority of this space is not actually focused on solving those problems and not actually focused on solving those questions and so the last thing that i would say about the social and the cultural element is that at good dollar we have the good pleasure of actually seeing it happen rather than just thinking about the art of what's possible right and so

when you actually see people around the world who make less than five thousand dollars a year begin to take crypto and hack value into it and use it peer-to-peer and use it to crowdfund for themselves and use it to actually learn about the larger uh investing ecosystem within d5 and what are the risks and the protections and the opportunities it is happening it is happening it's not something that one day will happen it is happening today people are onboarding people are using the money they're using the money to improve their lives and so i think it's very important to say to

this audience that we are no longer living in the art of the potential or what's possible for blockchain and financial inclusion it is happening right it's happening on a small scale but it's happening and so to continue to have the faith that there are builders and projects out there that are like really really tackling these questions and people on the ground who are embracing the products and solutions and they're the ones that are running with it right yeah i mean i think the big plus one i think that one of the things that one of the criticisms i've seen of green pill and this this whole movement has been like great theory but is it actually happening and i just want to

shout it from the rooftops that it is happening we are creating these pro-social applications and and i think that you should give yourself a little bit more credit than just saying it's happening on a small scale because i see the counter on the website and 450k active members is nothing to sneeze at so i mean that's not that's not world scale but that's that's local scale that's that's city level scale so it is happening at some amount of scale thanks kevin yeah and i mean listen it's easy to get discouraged because i think it's also important that we should admit that 99 of the builders and the capital in the space are not looking to solve impact problems and that's the reality within which we're operating and we can

talk about that all day i'm sure right well yeah and so the green pill audience is mostly people who are building and want to build these pro-social applications and want to create this shelling point for the hopeful and and that's why i kind of wanted to talk about the design of this this system on the the second half of the episode the back nine if you will and and you know the first the first question i have is season two of green pill podcast is all about digital identity and civil resistance civil attacks are basically making up multiple accounts in order to get more rewards from the system how does good dollar approach civil resistance if i'm someone who's making uh 20 cents uh 21 cents in good dollar every week by claiming every day why

wouldn't i just make up multiple accounts in order to get i don't know 20 by having 100 fake accounts every week yeah so well we researched that um a lot before we before we started because of course that besides the the money question there was the the identity question um today eventually we decided we were going to go with you know with with a simple solution because we wanted to focus on on the ubi um so what we chose is to do a face verification it's a the system that we build does anonymize first face verification um so basically a user has to um you're using a service that was

donated to us um by face stack and the user has to prove liveness that he's a live human being and then we take uh the the facial features and we check that they don't already exist in the database now we don't keep any connection it's anonymized in the sense that we don't keep any connection between um the user details and the facial features so only the user has the key or like the idea of his facial features in our database right it's uh it's an id derived from his private key and only in in case he wants to to delete his account then he can then request to

to delete his um his details uh sending us his uh his unique id and then we delete it but basically it's a big uh data set of uh facial features uh facial vectors that um we just check if the face already exists there um or not um right so in i can go more into the past experiment uh that we did if that that that's relevant but um basically we tried different methods we um but we wanted to do something that's going to be um easily scalable right i think that i think that our choices like the

choices that we made were first and foremost to do something that's pragmatic and practical rather than uh being you know idealists um and building something that that can scale both in terms of um you know our uh non-custodial wallet right so we did want to be non-custodial but uh we didn't want our users you know try to use uh those 12-12 word seed phrases and back them up and so on that's why we went with the social logins uh again a service that's uh provided to us by web three off i think we were probably one of their first

first customers um and also with the with their identity and we see that in the numbers that uh that we have right uh good or is right yeah one of the top five uh dapps by daily active users um so we at least we were happy that you know it works and people are able to easily uh on board into web3 that's great yeah yeah i mean i think that you know digital identity is just such a core part of moving from these one token one vote systems to one human one vote systems and that's why we've been focused it's such a technocratic rabbit hole but it's just so important if we want to build these more pro-social applications that benefit people not just capital and so what i heard from you is biometric identity sort of with

face facial identity and then like presence type of stuff and then you have to claim every day and um you know i think i think that the other thing that i heard there was pragmatism over dogmatism don't let perfect be the enemy of good good enough civil resistance was kind of the goal there is that a decent summary um yeah exactly yes we looked to in the beginning of course we you know we um we were in very we're very in close touch with the you know adam from bright id uh we had lots of uh you know brainstorming with uh with them uh we really like the the idea of social identity right that's something that uh hopefully

um you know we will have in uh we will have in the future things that are uh more based on you know on your close uh close community uh rather than uh computers checking your uh your biometrics um and i hope that those tools you know will um will mature um in the near future because also there's you know there's even for facial verification there are uh scalability uh limits right totally yeah i mean i think that you know uh if we can all push forward this civil resistance of the ecosystem together that would be great and combining web of trust with biometric with presence-based things as long as it's done in a privacy-preserving way uh is kind of one of the goals that getcoindowno has as

well um the other the other technical challenge i wanted to know about is what are you all doing for scalability of transactions so you're claiming a couple cents per day are you all using a layer two you're all using a side chain how are we making sure that gas fees don't eat up the transactions of the system right um yeah so that was also you know one of the key challenges when we started basically i started at good dollar i think like four years ago um and we launched the official product uh two years ago um so in the beginning a large part of it was you know researching and how are we going to do that

on scale because it was obvious that ethereum wasn't a possibility and back then there weren't a lot of options um luckily back then [Music] we met with the with the theme of the fuse network um which is a spinoff from colu that were social tokens ico back then and they started a layer 2 or i guess they started an evm based uh blockchain uh that was also focused uh supposed to be that was also focused for um you know social tokens and communities to create their own tokens

um yeah so we went with that even though our main d5 protocol sits on on ethereum that was also i guess sort of a design choice to to have the most of the defy on a more secure uh system and then we bridge over the good dollars we bridge them over to the fuse network where our users can claim and because on you know on most uh layer layer two networks then or it's not exactly layer two i guess uh nowadays um but back then that was uh what we meant when we said layer two so the gas fees are very very cheap and we actually

subsidize those uh fees for our users um so they also don't need to think about gas right so we have this smart contract faucet which which uses uh the user identity actually to prevent abuse so you can you can use that smart contract if you're whitelisted if you verified your identity you can use it um a certain amount of times a day or a week and a wallet does that on the background for you um so you don't you're not even aware that you're paying gas fees got it yeah i think that both your approach to civil resistance and

your approach to uh scaling the transactions might be useful to other builders who are building this pro-social application so thanks for the technical rabbit hole on that um is there anything else to say about the technology or the design uh as as we start to move towards rapping in the next few minutes sure so what you said before about um about identity uh moving from um you know one token one vote uh to one person one vote i think that's probably the most important uh things nowadays in in web3 because a lot of projects or there's a lot of talk about public goods but actually

and many projects call themselves public good but though they are controlled by one token one vote which is basically duplicating our current economics economic system right that doesn't uh take care uh doesn't take into account um the needs or the wants of of uh of the many and even though i'm not so sure that uh you know one person one vote is the best uh um is the best uh voting system you know things like quadratic voting um can probably um you know be better for for some for some things but definitely

we need to start moving into systems that are more uh democratic because in those systems most of the of the problems that we are trying uh to solve um don't exist for example you can think of you know i like to take the example of cooperatives that are you know democratically owned uh businesses in those kinds of businesses you have a lot less um you have much more diversity right for example um if you take um the the ceos of um

of community banks we have like around 50 women over there um also in the community that i live that we have you know democratic governance then the leaders that we choose the people that we choose for um for key positions um you know it's like 50 50. so it really makes makes a difference and give the the power [Music] to the people and when we design the governance for so buddha is also is also a dao right and and when we design that we also took the more pragmatic way i guess you know i was in in that case i was the idea idealist and i said oh

let's try to do it a complete complete democracy i think that um the other you what's the name of the um the other ubi protocol i think they're going that way what's the name of the protocol of santi proof of humanity yeah yeah humanity so i think they are trying to do one person uh one vote uh so for us what we did is um we created uh the good token which is the governance token and that token is uh non-transferable so you can just buy governance which is also something that's uh that's important um

and we decided we're going to in the beginning that we are going to distribute 50 will go to the people that claim and the other 50 would go for people that you know support the protocol that's taking the protocol and and so on great thanks so much uh any uh anything that i didn't ask you all that you want to say before we wrap sure so first and foremost we'd like to take the opportunity to thank you and the bitcoin community for having us on um it's a real pleasure to see technology for the sake of public goods uh become a such a significant topic of mainstream conversation in the crypto industry and

that's really thanks to a lot of the advocacy and work that you've done kevin and the team at get coin as you guys know um good dollar is 100 open source project so everything that we develop we release on github and we intend for people to use as a public good so ubi crypto ubi is a true public good for the people to use as such we have a few amazing change makers that are actually raising grants for their own ubi projects and initiatives as part of the active gr-15 that has that's going on right now so we actually have some

entrepreneurs that are big that are actually developing their own deployments of ubi uh and our fundraising built on the good dollar infrastructure and actually fundraising through get coin to support those projects so one amazing change maker working out of south africa she has a ubi project called rightful share that's all about distributing crypto ubi um in a rural area of south africa she's currently raising funds on as part of get coin 15. please go support her we also have a number of really interesting entrepreneurs who are looking for small micro grants around five hundred dollars to a thousand dollars to actually build

big businesses based off of the good dollar code and the good dollar system so make sure you check them out it's a really interesting there's some really great change makers and great examples of crypto being used in the real world to actually help people and the real power of actually releasing open source technology that's meant for people to take and use and adopt as their own um of course we're always looking for more people to join the community and support the project the best way to get started is to go to good dollar.org get signed up use a wallet sign up for a wallet get waitlisted to start claiming good

dollars and then you're automatically a member of our community and the best place to stay in touch with all of the incredible change makers that are doing good with good dollar all over the world is uh our twitter thr our twitter feed so good dollar org you will see not just what's going on with the protocol and the down the project but also the thousands and thousands of people from every country all over the world who are you learning about crypto and using good dollar and experimenting and really trying to hack value into figuring out uh how do we use crypto to build a better financial future for ourselves our family our

community and it's really beautiful to see beautiful inspiring to see um we are still just getting started so uh if you are interested in what we're doing and have skills to contribute technical non-technical organizational operational dow experts what have you we'd love love love to have you join our mission good dollar is the result of the good work and intentions of thousands and thousands of people and we'd love to have you with us so thank you again for having us on the show and giving us the space to tell our story and um hopefully this is just the beginning of our work with

green pill in the bitcoin community as well beautiful we'll do we'll put some links in the show notes to those resources as well and i think this episode will air around the time get coin grants from 15 is happening so call action uh contribute to the get coin grants for a good dollar ecosystem for the audience as well all right well well this has been a great episode i think that y'all your story is really inspiring for the builders out there so thanks so much so much for attending the green pill podcast thank you very much [Music] you