That's Global Income Coin, or Glo.
A non-profit, USD-pegged, 100% backed stablecoin.
The stablecoin is backed by USD in a custodial bank account and US government bonds. The US government bonds generate interest payments. We redistribute that interest as basic income, by sending money to individuals directly.
The more we collectively use Glo as a currency, the higher our market cap, the more basic income we can generate. If Glo replaces all money worldwide (M2 globally is $130 trillion) and our average US Treasury rate is 3%, we are able to generate $3.9 trillion in basic income per year. Estimates are that $175 billion per year would solve extreme poverty worldwide. We can reach that by replacing 5% of all money. Our mission is to eradicate extreme poverty around the world.
We'll start distributing to selected countries first by donating to GiveDirectly's basic income program. We're not endorsed by or affiliated with GiveDirectly.
Excited about this? Join our Discord to stay in touch.
Our operational costs and employee salaries run on philanthropic donations. We're a nonprofit that thinks and operates like a startup.
Our team is fully remote, and we're hiring globally.
If you're excited about using blockchain technology for societal good, consider joining. We're hiring engineers, marketeers, economists, traders, community builders, recruiters and many other roles.
Glo isn't available yet. The whitepaper is a work in progress, but the draft is public. You're very welcome to read, add comments and make suggestions.
We are currently focused on expanding the team, developing the stablecoin infrastructure, getting the required regulatory things in place, and building our early community.
If you're excited about our mission and work, consider joining! We’re rapidly hiring in all areas. We work fully remotely, and hire globally.
See all open roles here.