GoodDollar uses decentralized technology to financially empower millions around the globe. With the GoodDollar app on your phone you can claim GoodDollars every day. There are thousands of people already claiming their GoodDollars on a daily basis. The value is still very low, but the team is working hard to increase that.

Recently GoodDollar launched a promising initiative called “GoodCollective”. With this you can grant basic income to a specific group of people. The downside is of course that it is not Universal. It’s Basic Income for a specific group. The upside is that the Basic Income can be higher and that the technology is (almost) available from GoodDollar for everyone to set up a GoodCollective.

So FairSpirit can use the GoodCollective to a start small-scale project bottom-up with a small group of people and a modest basic income for a limited period. This will be used to try out how this can best be implemented. Once this is going well, the project can be expanded. This can be with a larger group, a higher amount and/or a longer
period. The idea is to scale up slowly but surely.

At the moment we are looking to team up with an existing project in a low-income country. Ideally a project would work with a group of maybe 10 or 20 people, for instance an existing savings group, a group of personal businesses or an educational group. With the results of this project, we will raise more funding for subsequent groups and in this way improve and scale up.

In practice

In practice, this could look like this. A group of 15 people who participate in the project receive an amount of GoodDollars worth $90 per person. They receive these GoodDollars on their smartphones spread over, for example, half a year. That amounts to approximately $0.50 per day.

For this, they must have a smartphone that can work with the GoodDollar app. With that app they can prove via facial recognition that they are a unique person. This is necessary to prevent abuse. After that, they can receive GoodDollars via the app.

These GoodDollars can only be used if they can be converted into locally usable money. That is still a puzzle as it’s very different per country. That needs to be sorted out for each project. Ideally there would be a local service in the neighborhood that can do the exchange. If that is not possible a local project lead must be educated.

Interested?

At the moment we are talking to contacts in Ghana, Cameroon and Gambia to see if we can set up a project there. If you are interested in setting up a project, contact Han at han@fairspirit.com