Golden Finance reports that the Marshall Islands have completed the world’s first universal basic income (UBI) distribution based on the digital sovereignty bond USDM1 via the Stellar blockchain. USDM1 is dollar-denominated, fully backed by US short-term Treasury bonds, and is issued instantly to citizens on dispersed islands through a dedicated digital wallet Lomalo, replacing traditional cash. The Ministry of Finance states that this program is a fiscal allocation project rather than currency issuance.
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Marshall Islands Launches UBI Program via Stellar Blockchain
Golden Finance reports that the Marshall Islands have completed the world’s first universal basic income (UBI) distribution based on the digital sovereignty bond USDM1 via the Stellar blockchain. USDM1 is dollar-denominated, fully backed by US short-term Treasury bonds, and is issued instantly to citizens on dispersed islands through a dedicated digital wallet Lomalo, replacing traditional cash. The Ministry of Finance states that this program is a fiscal allocation project rather than currency issuance.