tldr; Coinbase has initiated a crypto-based universal basic income (UBI) pilot in New York City, distributing $12,000 in USDC to 160 residents over five months. Participants receive $800 monthly payments and a one-time $8,000 lump sum. The program, funded by Coinbase’s donation to a nonprofit, aims to test the effectiveness of crypto payments in low-income areas like the South Bronx and East Harlem. The pilot explores how digital wallets and lump sums impact financial behavior compared to traditional banking methods.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
subdep on
I wonder how many will yolo into BONK or some other shit coin.
tennisss819 on
Uh, can they bring this to Austin?
akilla_bk on
Coinbase is trialing a private UBI program?
elysiansaurus on
So they are just giving 160 poor people 12k in crypto? This should go well
triplegerms on
This feels dumb. They want to test how people spend UBI if it’s given in crypto instead of cash. Since you selected people near the poverty line, and this is just a crazy guess, they are going to immediately turn it into cash to pay for bills/rent/food/up coming holiday. Like what else could be the outcome. I’m happy for the random people getting a piece of coinbase’s money, but the study itself doesn’t seem productive.
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tldr; Coinbase has initiated a crypto-based universal basic income (UBI) pilot in New York City, distributing $12,000 in USDC to 160 residents over five months. Participants receive $800 monthly payments and a one-time $8,000 lump sum. The program, funded by Coinbase’s donation to a nonprofit, aims to test the effectiveness of crypto payments in low-income areas like the South Bronx and East Harlem. The pilot explores how digital wallets and lump sums impact financial behavior compared to traditional banking methods.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
I wonder how many will yolo into BONK or some other shit coin.
Uh, can they bring this to Austin?
Coinbase is trialing a private UBI program?
So they are just giving 160 poor people 12k in crypto? This should go well
This feels dumb. They want to test how people spend UBI if it’s given in crypto instead of cash. Since you selected people near the poverty line, and this is just a crazy guess, they are going to immediately turn it into cash to pay for bills/rent/food/up coming holiday. Like what else could be the outcome. I’m happy for the random people getting a piece of coinbase’s money, but the study itself doesn’t seem productive.