In this poat, we will explore the concept of Unconditional Basic Income (UBI) and how ImpactMarket, a decentralized poverty alleviation protocol, utilizes the Celo blockchain to distribute UBI to vulnerable populations worldwide. We will learn about Jessica Gaubert, the Chief Operations Officer of ImpactMarket, who discussed UBI at Celo Connect.
Jessica Gaubert, the CEO of ImpactMarket, introduces ImpactMarket as a decentralized poverty alleviation protocol. The main goal of ImpactMarket is to distribute Unconditional Basic Income (UBI) to vulnerable populations across the globe. Currently, ImpactMarket is providing UBI to 38,000 beneficiaries in over 33 countries.
Jessica Gaubert explains that distributing UBI on any other blockchain would not be feasible due to the specific requirements of the UBI program. UBI involves distributing a basic income of one dollar per day to individuals. To make this distribution sustainable, it is crucial to keep transaction fees as low as possible. Fortunately, the Celo blockchain offers transaction fees as low as 0.01 cents, making it a suitable choice for UBI distribution.
ImpactMarket’s mission aligns closely with the idea of prosperity for all. Their primary objective is to eradicate extreme poverty, and this mission is supported by the Celo blockchain. By leveraging the capabilities of Celo, ImpactMarket can effectively distribute UBI and contribute to the goal of prosperity for all.
- Setting Up a Celo Wallet: To participate in the ImpactMarket UBI program, you need a Celo wallet. Visit the Celo website and follow the instructions to create and set up your Celo wallet.
- Joining ImpactMarket: Once you have a Celo wallet, visit the ImpactMarket website and sign up to become a member. Provide the necessary information and complete the registration process.
- Verifying Eligibility: ImpactMarket ensures that the UBI is distributed to the vulnerable population. As a member, you will need to verify your eligibility by providing relevant documents or information as requested by ImpactMarket.
- Receiving UBI: Once your eligibility is verified, you will start receiving UBI on a regular basis. The UBI amount is one dollar per day, which will be deposited directly into your Celo wallet.
- Utilizing UBI: The received UBI can be utilized according to your needs. It aims to alleviate poverty and provide individuals with the means to cover their basic needs and improve their quality of life.
- Contributing to the Mission: ImpactMarket encourages beneficiaries to provide feedback, share their experiences, and participate in community discussions. By actively engaging with the ImpactMarket community, you can contribute to the mission of eradicating extreme poverty.
We explored Jessica Gaubert’s discussion about UBI at Celo Connect. We learned about ImpactMarket, a decentralized poverty alleviation protocol, and their efforts to distribute Unconditional Basic Income (UBI) to vulnerable populations worldwide. By leveraging the capabilities of the Celo blockchain, ImpactMarket can efficiently distribute UBI with low transaction fees, supporting the mission of prosperity for all. We also outlined the steps for participating in ImpactMarket’s UBI program, from setting up a Celo wallet to receiving and utilizing UBI. Join ImpactMarket and be a part of the movement to eradicate extreme poverty.