Coinbase to will distribute $12,000 in USDC to 160 New York residents

A new universal basic income program with the participation of Coinbase will distribute USDC in a program for low-income residents of New ￰0￱ selected participants will receive $12,000 in ￰1￱ and GiveDirectly will join forces for a new pilot testing a form of universal basic ￰2￱ New York residents will receive a no-strings-attached grant, with one condition- it would be paid out in USDC crypto ￰3￱ program has picked 160 low-income residents of New York, who will receive $12,000 spread over five ￰4￱ grant will launch with a lump sum of $8,000 to encourage larger investments in housing or ￰5￱ will then receive five more smaller deposits of $800, testing the hypothesis that a lump sum at the beginning of the grant can lead to better ￰6￱ new program arrives around two years after Coinbase abandoned its GiveCrypto ￰7￱ remaining $2.6M in the program was sent to GiveDirectly, to seed the New York ￰8￱ Coinbase program does not limit the way of spending the USDC grant Each participant will receive the tokens in a Coinbase wallet, with the ability to withdraw to a bank account, move to another wallet, or spend via a crypto ￰9￱ program will be administered by GiveDirectly, with the funds supplied by ￰10￱ are no limitations on the way of spending the funds, though the UBI experiment will track the ￰11￱ initiative is part of the UBI movement, testing its main thesis that no-strings-attached donations are a better tool for life improvement than targeted ￰12￱ funds were distributed via applications and a lottery to pick the final 160 ￰13￱ of them, Luis Acero, has already lost thousands in crypto, reported ￰14￱ New York program, dubbed Future First, will explore the potential of stablecoins to be spent in a way that benefits the ￰15￱ program will track for improvements in housing situations or educational ￰16￱ crypto solve UBI?

Multiple crypto projects have attempted to build a form of UBI, including a token with the same ￰17￱ have tried airdrops or referral-based ￰18￱ Sachs denies the possibility that crypto can bring UBI, stating it’s a fantasy that will never ￰19￱ crypto is also limited in its ability to support ￰20￱ one possibility is the expansion of stablecoins, linked to the growing DeFi ￰21￱ US Genius Act has set expectations for the creation of corporate stablecoins, offering a more controllable vehicle for ￰22￱ holds additional complexity and some limitations on wallet ￰23￱ is a fully regulated and transparent token that behaves as close as possible to cash, though the holders may still need to pay transaction ￰24￱ main fear for the Future Forward program is that the funds may be used for further risky bets on ￰25￱ your strategy with mentorship + daily ideas - 30 days free access to our trading program