eToro will provide basic income support [DeFi]

You create a wallet using your phone and everyone willing can transfer GoodDolar tokens to it. This is a DeFi project implemented by eTorothat wants to have ready solutions for introducing a basic income, which is talked about in an increasing number of highly developed countries.

Company eToro, a world-renowned broker operating in over 100 countries, has just registered a platform that is intended to be a non-profit organization. Initially, it will be possible to collect funds from the protocol Yield farmingthat are just starting to work, but not yet tradable on cryptocurrency exchanges.

On the platform you will be able to "farm" GoodDollar tokens ($ G), which for now will be based on stablecoin DAI. In the next steps, however, the tokens will also be based on other digital currencies. Interest on deposits will go to those who will support the platform and handle the further creation and distribution of $ G.

Project for those excluded from the banking system

Yoni Assia, CEO of eToro

“We want to involve 1,7 billion people who remain outside the financial and banking systems around the world. Thanks to the platform, everyone can access basic financial assets. We hope that GoodDollar will serve an additional 100 million cryptocurrency users by distributing a new form of online money. In addition, new money can be used to drive economic activity on a global and local scale " - underlines Yoni Assia, GoodDollar founder and president of eToro.

DeFi, or basic income for everyone

The new platform is intended not only for those who want to transfer and receive funds bypassing the banking system. It is supposed to be a technological solution that will ensure easy receipt of basic income.

This concept is being considered by more and more countries, not only with leftist governments. According to many experts, it is more profitable to provide a stable income to everyone than to maintain an army of officials who consider applications for pensions, benefits, benefits, control their spending, etc. These are often very carefully calculated costs, which clearly show that something that At first glance, it may seem absurd to give away, contrary to appearances, it is a step towards reducing the costs of the state, and not exposing it to additional accidents. The system is simple and transparent, which makes it cheap.

It is precisely in distributing these funds as part of your basic income that a modern platform created by eToro can help. The company claims that its idea met with great interest and as soon as it was "launched", XNUMX Good Dollar wallets were created on the platform. Users from all over the world put them on. The first wallets belong to the inhabitants of Venezuela, Ghana, Argentina, South Africa and the USA.

“Our project offers a framework for responsible wealth creation and redistribution in a sustainable manner. At the same time, it combines the interests of capital holders and recipients of basic income, who will be representatives of all social strata " - adds Yoni Assia.

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Millions of dollars in decentralized finance

EToro's development towards DeFi is a natural step that all brokers will probably take. DeFi, or decentralized finance, is a market that is growing at an incredible pace, attracting hundreds of millions of dollars. Applications, new token projects, decentralized exchanges - all this reignites the imagination, like the beginning of the cryptocurrency era.

No wonder eToro, which offers access to Forex, stocks, commodities and cryptocurrencies, is looking to take over some of this rapidly growing pie. And there are many signs that it can be successful, because eToro has a huge base of 16 million active customers from around the world. It already employs 850 people and operates in over 100 countries, and the website is available in 22 languages, including Polish. The company is worth approximately $ 1 billion.

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