WEB3 For Good: How can cypto deliver a Universal Basic Income

Web3.0 trends are showing the potential of a new broader, distributed and self-sovereign internet. Cryptocurrencies and NFT are becoming more and more mainstream in media, digital communities and VC firms, but, is Web3.0 aiming to become socially inclusive? Is this decentralized economy actually considering everyone? Or is it an exclusive trend where only wealthy and educated people can have access to? While Web3.0 is shaping itself around generating new relationships between users, platforms, communities and new forms of tokenized value, there’s a big need to bring Legacy Web2.0 that still feels the cultural and economical barriers that Web3.0 represents. Not everyone has the saving capabilities required to enter in crypto nor the understanding about these new coordination paradigms. On the other hand, Universal Basic Income (UBI) is a solution that proposes the transfer of economic wealth to people that can’t afford their basic needs, but it is often coming with some sort of political agenda proposed by politicians or centralized governments. The decentralized nature of the Web3 infrastructures and protocols, together with its capability to program and compose new forms of money is bringing a new hope to UBI advocates in making such a dream a reality. Proof Of Humanity $UBI, Circles, GoodDollar, Impact Market are some of the initiatives that are deploying real proposals to deliver and scale-up this solution.