[glocoin]

Global Income Coin | Software Engineer & many more | Remote | Full Time | Non Profit | $100k+

Global Income Coin is a nonprofit startup striving to give every human on earth a dollar a day of income. We're launching a new coin called GLO, intended to be used for payments just like the dollar or the euro. As adoption grows, we can slowly create additional money and give this away for free, to people directly.

Our tokenomics are the opposite of bitcoin. When demand for bitcoin grows, the price per coin rises because the number of coins is fixed. With Global Income Coin, we print new coins instead, stabilizing the coin. The new coins are distributed as basic income.

We raised a $2m seed donation from Sid Sijbrandij (GitLab, YC W15) and are hiring for a variety of roles to help realize this vision:

- Head of Trading

- Head of Econometrics

- Head of Community

- Lead Writer

- Social Media Manager

- Motivated individuals with a vision for how to grow GLO

Check out https://globalincomecoin.com for more!

If you're interested please do not hesitate to get in touch via [e-mail]

[propogandist]

>Verified humans get a weekly airdrop of GLO for free: that's the basic income. The value of the airdrops will depend, but we’re aiming for $7 per week.

why do you expect the typical recipient that can live off $7/week to do KYC, and then accept a new Ethereum based coin to survive?

why not skip the crypto bits and give $365/yr to people who need it?

[glocoin]

Hi there,

RE: KYC: For better or worse, KYC is necessary for a project like ours to prevent bad actors from creating duplicate identities, from which they could either A) launch a sybil attack or B) claim multiple UBI drops.

We understand that this is going to be a barrier to entry for some folks, but optimistic about progress on this front for a few reasons -- remittance companies are increasingly exploring crypto, mobile internet access is expanding rapidly, etc.

RE: skipping the crypto bit: something important to clarify here is that in the GLO model, the funds for UBI are a byproduct of people adopting GLO as money. The goal is to push the adoption of a new currency, and the printing of new money -- which ensures that there's enough of that currency in circulation -- is how GLO generates UBI. We understand that this is a bit more complicated than 'take $1 from one person and give it to another,' and therefore hard to explain pithily -- if you have any feedback on how we do so in our white paper we'd be glad to hear it [0].

Thanks for the great questions!

[0] https://docs.google.com/document/d/1E09fdrvBr_TgsUqODq-MROfo...

[shinryuu]

And how do you deal with demand collapsing?

[glocoin]

In general, as you've likely surmised, demand needs to rise over time for the project to succeed.

In the long-run, our aim is to have that demand come from economic activity -- meaning people using GLO for all the things they normally use cash or a credit card for.

In the beginning, We expect philanthropists and altruists to drive demand. If demand falls, we also have a USD reserve with which we trade with our own coin to support the value. We discuss this more in the trading section of our white paper [0].

Happy to discuss further if you have questions!

[0] https://docs.google.com/document/d/1E09fdrvBr_TgsUqODq-MROfo...