eToro develops blockchain platform for social support

The eToro commercial platform announced a social project based on blockchain to create a non-speculative cryptocurrency, with the objective of paying social interests to those less favored

The social project, called GoodDollar, was presented at the Web Summit held in Lisbon, Portugal. The company has invested a million dollars for the project and is looking for more partners to join the initiative. The trading platform currently has more than 10 million registered users and supports fourteen cryptocurrencies.

The purpose of eToro is to provide economic tools for people who do not have banking services or who do not have access to banking services, creating a non-speculative digital currency that aims to find ways to reduce the inequality of wealth on a global scale.

The decentralized solution tries to establish a direct ownership connection between the identity and the currency, using a universal basic income distribution mechanism that will work through the deployment of smart contracts.

They also announced that the tool will launch its own cryptocurrency purse that will initially provide support for bitcoin, bitcoin cash, ethereum and litecoin. Often the blockchain is widely used in charitable projects.


Source:  Cointelegraph

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