Bitcoin

Rightfulshare, an income equality advocacy movement, recently said it has launched what it describes as the “first unconditional” crypto universal basic income (UBI) transfer. According to Karen Jooste, the crypto UBI not only expands the possibilities for unemployed South Africans but also nurtures their entrepreneurial spirit.

Fairer Income Access

Rightfulshare, a movement advocating for equality, recently said it had sent its “first unconditional” crypto UBI transfer to a local entrepreneur residing in South Africa. According to the movement’s Jan. 31 press release, selected beneficiaries will receive the crypto UBI “in Gooddollar to use as they choose.”

Also, in the statement, Rightfulshare touted the launch as a pioneering step that channels “both resources and Web3 solutions to a small town in the country.”

Commenting on the launch, which has been described as “a pioneering step for fairer income access,” founder of Rightfulshare Karen Jooste claimed that the launch not only expands the possibilities for unemployed South Africans, but also nurtures the entrepreneurial spirit.

“We need a new approach to addressing poverty in South Africa. The current system is not working and we can no longer pretend that there will be enough jobs for everyone. By bringing visibility to the benefits of a digital basic income transfer, we’re expanding the possibilities for South Africans and nourishing the creativity and entrepreneurial spirit present in the country,” Jooste said.

Meanwhile, in addition to receiving the crypto UBI every month for one year, Rightfulshare said beneficiaries “will also have access to mentoring and learning opportunities.” Such opportunities will range from business development to Web3 education, the statement added.

According to the press release, Rightfulshare crypto UBI is currently being replicated in the metaverse to help those from outside South Africa gain a better understanding of the project.

Register your email here to get a weekly update on African news sent to your inbox:

Tags in this story

What are your thoughts on this story? Let us know what you think in the comments section below.

Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.














Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Read disclaimer

Articles You May Like

Key moments ahead in the UK election campaign
Weekly mortgage refinance demand revives as interest rates fall to 7-week low
Global investors wake up to cheap UK stocks as takeover activity rises
The weaponisation of ‘common sense’
US stocks hit record high as volatility hovers near pre-pandemic low