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eToro Launches Blockchain Solution to Deal with Economic Disparity

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eToro has just introduced a blockchain-driven social project GoodDollar to deal with global wealth inequality.

This is according to a press release that was broadcasted by Cointelegraph.

GoodDollar had been launched at the Web Summit held this week in Lisbon, Portugal. The release indicated that eToro has put in $1 million of its resources to the project and is looking for more associates to take part in the initiative.

The project’s primary goal is to offer economic instruments for people who are unbanked or disenfranchised, generating “non-speculative cryptocurrency that aims to find ways to reduce wealth inequality on a global scale,” the release indicated. The decentralized solution supposedly establishes a direct ownership link between identity and the currency, thus helping to get funds straightforwardly and without the usage of middlemen.

eToro, which is a popular trading platform, recently became the first website to trade Binance’s in-house token Binance Coin (BNB) last month. It also announced that it is introducing its own cryptocurrency wallet that would initially provide support for Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC).

Blockchain is now being used in charity projects all across the world. For example, a United Nations group dedicated to women’s rights makes use of decentralized technologies to pay remunerations to refugees that are working in camps in Jordan. Aside from being paid without using banks, the refugees within the program can also pay their purchases by using an iris scan.

In addition, the world’s largest crypto exchange Binance has announced its Blockchain Charity Foundation project where all donations go straight to its beneficiaries. The platform will be used to raise funds for the victims of the floods and landslides in Eastern Uganda.

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