Grantcoin Launches Web-Based Wallets, Automated Basic Income Distribution to 2,500 People

It’s Basic Income Week, and the founder of Grantcoin is speaking tomorrow at the North American Basic Income Guarantee Congress in New York. In celebration of this annual event and the rapidly growing basic income movement, the Grantcoin Foundation is excited to announce that we have achieved three major milestones:

1. We completed our fourth quarterly distribution of Grantcoin Basic Income (see blockchain record here), more than doubling the number of recipients since last quarter, to over 2,500 people. The Spring 2017 distribution, originally scheduled to occur in May, was delayed because of technical issues. The extra time enabled our developers to accomplish two other very important goals, as follows:

2. All Grantcoin Basic Income recipients now have a web-based wallet on Ekata.social. These wallets are where you will receive your Basic Income from now on (starting with the distribution that occurred today), and you can transfer Grantcoin into and out of them to/from external Grantcoin wallets. You can also use your web-based wallet to transfer Grantcoin to any other Ekata user by sending to their username.

3. The distribution process for Grantcoin Basic Income is now mostly automated, eliminating hundreds of hours of human labor and making it possible to scale up the Grantcoin user base to a theoretically unlimited number of recipients. Today, a Grantcoin team member funded a web-based wallet on Ekata and, with one click of a mouse, distributed basic income and referral bonuses to 2,511 people around the world. Next time, maybe it will be 10,000 people — or 100,000 or more — and the process will be just as efficient and easy.

The Grantcoin project was intended as a pilot program to create a proof of concept for blockchain-based Universal Basic Income. After four quarterly distributions of Grantcoin, worth a total of $20,000, to an exponentially growing number of recipients — now over 2,500 people in over 85 countries around the world — the Grantcoin team can confidently say that we have succeeded in our goals for Phase One of this project. We want to say thank you to everyone who believed in us, invested in our currency, donated to our charitable Foundation, and encouraged us to keep going with this project even when at times it has been a challenge.

Phase Two of the project will be announced soon. In the meantime, log in to Ekata and try out your new Grantcoin wallet, and let us know if you have any questions. We also invite you to buy some Grantcoin and make a donation to the Grantcoin Foundation. Thank you for your support!

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