• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Buy Neo Pepe
No Result
View All Result
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: World Liberty Financial Accuses Exchange Of Token Manipulation, Justin Sun Blacklisted
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: World Liberty Financial Accuses Exchange Of Token Manipulation, Justin Sun Blacklisted

Widening Global Wealth Inequality Gap Can Be Narrowed By Universal Basic Income

Bitcoinist
by Bitcoinist
6 years ago
·
Posted in Sponsored Article, News, News teaser
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The global wealth inequality gap is widening, according to Oxfam. To coincide with the start of the World Economic Forum 2019 in the Swiss ski resort of Davos on January 21, the development charity published its annual report on the state of the world’s economy.

[Editor’s Note: This is a sponsored guest contribution authored by Nir Yaacobi, Economics Lead at GoodDollar.]


The headline-grabbing finding from the research was that 26 of the richest people on the planet own as much, in terms of assets, as the 3.8 billion people that comprise the poorest half of the globe’s population.

This time last year the figure released by Oxfam was that the wealthiest 42 people owned as much as the poorest 3.7 billion. That statistic is used on the landing page for GoodDollar, a research hub that explores how decentralised cryptocurrencies and blockchain technology may enable models based on universal basic income (UBI) with the central aim of reducing global wealth inequality.

Need for change: GoodDollar’s website homepage is now out of date following Oxfam’s latest statistics showing the wealth inequality gap is widening

Need for change: GoodDollar’s website homepage is now out of date following Oxfam’s latest statistics showing the wealth inequality gap is widening

The figure needs updating, to reflect the worsening situation, alas. As Oxfam’s 2019 report summary states: “Our economy is broken, with hundreds of millions of people living in extreme poverty while huge rewards go to those at the very top.

“The number of billionaires has doubled since the financial crisis and their fortunes grow by $2.5 billion a day, yet the super-rich and corporations are paying lower rates of tax than they have in decades.

“The human costs — children without teachers, clinics without medicines — are huge. Piecemeal private services punish poor people and privilege elites.”

The accompanying press release points out: “Billionaire fortunes increased by 12 per cent last year … while the 3.8 billion people who make up the poorest half of humanity saw their wealth decline by 11 per cent.”

The report promotes the urgent need for a new system. “We need to transform our economies to deliver universal health, education and other public services.”

At GoodDollar, we believe blockchain-powered UBI is the right tool to help fix what the report calls “inequality at home [with] developed nations currently failing to meet their overseas aid commitments [that] could raise the missing billions needed to tackle extreme poverty in the poorest countries by increasing taxes on extreme wealth”.

Simply put, a new decentralised mechanism is critical to tackling wealth inequality — and sooner rather than later, with many economists predicting another global financial crisis before long.

If the wealth transfer from the rich countries to the poor ones is operated by governments and authorities in individual countries, with their own interests at heart, then this approach is likely to finance the public administration in the rich countries and corrupt regimes in the poorer nations. Very little will arrive its destination.

“Upwards of 30 per cent of funds allocated to humanitarian aid is lost to corruption,” points out Ira Ryk-Lakhman, GoodDollar’s General Counsel, in a recent guest article on Cointelligence. “This is mind-blowing. Other estimates calculate that over 80 per cent of the funding that is allocated for charities does not make it to the final beneficiaries.”

A new way of thinking is needed to right the balance; GoodDollar and other decentralised, blockchain-backed UBI programmes should be explored. For instance, GoodDollar, once established, will cut out the middleman — in this case a government or custodial authority — and hand funds directly from the rich to the poor.

We believe that with the right decentralised tool the very rich people will be willing to donate more of their funds if they know it is destined for the right cause, rather than for a new tax that they will always find a way to avoid. Change has to come, and together we can narrow the wealth inequality gap.

Do you have the skills to help the GoodDollar project? We need builders, scientists, and experts in identity, privacy, and financial governance, as well as philanthropists and ambassadors. Contact us athello@gooddollar.org, via our social media channels (Twitter and Telegram), join the OpenUBI movement, or visit our GitHub page.

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Bitcoinist

Bitcoinist

Follow

Bitcoinist is the ultimate news and review site for the crypto currency community!

Full Profile

Related Posts

Avalon X Compared with Pepe, Dogecoin, and Shiba Inu

From Meme to RWA: Avalon X Compared with Pepe, Dogecoin, and Shiba Inu

10 hours ago
Why PEPENODE Could Be the Meme Coin Cinderella Story

Why PEPENODE Could Be the Meme Coin Cinderella Story

10 hours ago
Sparkvia AI Gains Momentum as Creators Embrace On-Chain Content Tools

Sparkvia AI Gains Momentum as Creators Embrace On-Chain Content Tools

14 hours ago
Gaia

Gaia Launches AI Phone That Runs Entirely On-Device

10 hours ago
MEXCs

MEXC’s Q2 Zero-Fee Strategy Delivers Record Growth in High-Demand Pairs

10 hours ago
Which Crypto Will Be The Next 55x Crypto Gainer; Shiba Inu, Pepe Or XYZVerse

Which Crypto Will Be The Next 55x Crypto Gainer; Shiba Inu, Pepe Or XYZVerse

10 hours ago
Please login to join discussion

Premium Sponsors

Press Releases

  • miner

    ADA’s path to long-term success: Integrating with...

    6 hours ago
  • Bitget and Bitget Wallet Support Trading of Over 100...

    9 hours ago
  • miner

    XRP Price From a High of $3.65 to a Low of $2.72: How GMO...

    12 hours ago
  • miner

    7 Trending Crypto Mining Apps This Year That Give Free...

    14 hours ago
  • mining

    6 Most Reliable Crypto Mining Software to Help Miners...

    15 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Buy Neo Pepe

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.