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New York starts revolutionary crypto fundamental income for young adults!
A pilot program for guaranteed income with cryptocurrency starts in New York, funded by GiveDirectly and Coinbase.
New York starts revolutionary crypto fundamental income for young adults!
In a groundbreaking step, a pilot program for guaranteed income is introduced in New York, which for the first time uses cryptocurrencies instead of cash. This innovative program, called "Future First", is carried out by the non-profit organization GiveDirectly in cooperation with the US crypto exchange CoinBase. The goal is to offer financial support in the age group from 18 to 30 years.
A total of 160 participants were selected by lottery and are expected to receive a total of $ 12,000 in cryptocurrency over a period of five months. The payment is made in a one-off payment of $ 8,000 and in five monthly payments of $ 800 each. Emma Kelsey from GiveDirectly explains that the one -off payment can be used for important expenses such as deposits and that this model is particularly useful for the age group of young adults.
The concept of cryptocurrency payments
The program is financed by the dollar-bound stablecoin USDC from Circle. In this, Carter from Coinbase emphasizes that the program not only offers financial support, but also demonstrated the positive effects of blockchain-based payments. It is an attempt to explore the possibilities of cryptocurrency in the social sector and to underline their advantages.
The introduction of the program comes at a time when many votes after innovative solutions to combat financial uncertainty and poverty are loud. The use of cryptocurrency could help enable new ways of supporting the community.
Similar concepts have already been discussed in other cities, but this is the first time that such a program in the United States is realized in this form. The results and experiences of this pilot project could have far -reaching effects on future social programs.
Overall, it remains to be seen how the participants react to the support and which teachings can be drawn from this extraordinary project. The initiative has the potential to change the way social support in the USA looks.
For more information about this program, visit the articles on Daily Hodl.