Wealth Distribution Using Blockchain
eToro, the global multi-asset investment company announced on Friday that they are launching a GoodDollar experiment using blockchain to tackle wealth inequality.
The experiment is being funded by the company with $1 million and also beckoning on ore partners to join the initiative. The experiment will be based on researching and implementing a cryptocurrency that pays social interest to those who have less and is continuously distributed to any verified participant for free, creating a global, open, universal basic income (UBI).
The CEO of eToro Yoni Assia assured that their team of Engineers, product designers and economists are currently developing the prototype and added that today is just the first step on a long, ambitious journey.
“We believe that we can create a mass-market cryptocurrency that is engineered to reduce inequality and provide a universal basic income.”
NEM On The Rise
The NEM coin has continued to dominate in the green for more than 8 weeks despite the slow and bearish crypto market.
Since reaching a low of 0.084 USD exactly 3 months ago, the NEM coin, which is the 15th largest cryptocurrency by market capitalization rose to $0.117 USD marking its highest price since September 12, while accumulating more than $45.6 million in 24-hour trading volume, all according to CoinMarketCap.
There are speculations that part of the reason behind this price surge is due to the resumption of NEM token trades on the Tokyo-based cryptocurrency exchange Coincheck for the first time since 500 million NEM tokens were stolen from Coincheck’s digital wallets at the beginning of the year.
NEM’s market capitalization reached $1.02 billion since the news, marking its highest value since September 12.
SEC’s Scrutiny Continues
Despite no formal regulatory framework for the crypto industry, the U.S. Securities and Exchange Commission [SEC] makes it a point to not only warn investors of potential risks involved in the cryptocurrency sector but also to punish fraudulent ICOs and crypto projects.
The recent crackdown by the commission has been the EtherDelta, a secondary marketplace for ERC20 tokens. The Founder was scrutinized by the SEC for failing to register the exchange with the commission or operate in accordance with an exemption.
According to the SEC, issuers of security tokens are required to register with the commission unless a valid exemption applies. , the Founder of EtherDelta has since agreed to pay the commission gains made from offering trade services for the tokens amounting to $300,000 which includes $13,000 in prejudgment interest and $75,000 as a penalty.
And this week’s airdrops, Stellar and LivenPay
Stellar (XLM)
Stellar Airdrop in collaboration with Blockchain.com is giving away a total of $125,000,000 worth of Stellar Tokens (XLM). All Blockchain users can log in to their wallets, verify their identities, to stand a chance at receiving XLM in one of their weekly giveaways.
How to join?
- Go to Blockchain.com airdrop page
- Submit your email address
- Tab to Join Waitlist
- Submit your Blockchain Wallet
LivenPay (LVN)
Liven will create a payment gateway SDK that can be deployed by third parties directly into their own applications and websites, allowing LVN to be spent and earned during the checkout process. LivenPay is airdropping 100 LVN tokens equivalence of $1.50 to airdrop participants and 10 LVN tokens the equivalence of 0.15 USD for every referral. ICO price: 1 LVN equaling 0.015 USD.
How to join?
- Join LivenPay on Telegram
- Chat with the Telegram Bot
- Submit your Ethereum wallet
