🚀 Marshall Islands Launches World's First Crypto UBI: $800 a Year for Every Citizen!
The Marshall Islands have made history by launching a unique Universal Basic Income (UBI) program. Now, every one of the archipelago's 42,000 residents will receive $200 quarterly ($800 annually).
Crypto or Fiat? The Choice is Yours
The key feature of the program is the complete freedom of choice for the payment method. Citizens can receive funds:
In stablecoins via the official government digital wallet, called Lomalo;Via direct bank transfer;By traditional check.
Why is the Government Doing This?
Finance Minister David Paul explained that the project, named Enra, aims to combat inflation and population decline. Prices are rising, and people are leaving the country in search of better opportunities.
"$200 a quarter won't make you quit your job, but it will lift people's spirits and provide real support," the minister stated. The government hopes these payments will motivate citizens to stay in their homeland and help the economy adapt to the new realities.
Why is this important for the crypto world?
This is one of the first instances on a national scale where cryptocurrency is officially integrated into the social welfare system alongside fiat currency. The Marshall Islands are effectively setting a precedent for using blockchain to address economic crises and depopulation.
The first tranche was already disbursed in late November. Will this experiment become an example for other small economies? We are watching! 🏝️📈
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