While people of all walks of life have the opportunity to benefit from investing in property developments within a given city or region via Golden Land, not all residents of a particular area will have the means nor desire to invest in local properties. Nonetheless, Golden Land believes that every single member of a community should directly benefit from property developments in their community.
Toward this aim, one of Golden Land’s primary goals for social good is to create a comprehensive distribution of tokens which is provided to all members of a given community. This distribution gains its inspiration from blockchain-based “universal basic income” (UBI) programs such as Manna.
In addition to UBI programs available via the non-profit sector, however, Golden Land hopes to further promote universal basic income as an alternative (and more effective) model for corporate giving. Since our company’s GL-40 standard creates an ecosystem whereby every property in the world can have its own token, we will start by stipulating that all properties in a particular city or region that have been tokenized on our blockchain will contribute a small percentage of their tokens toward local UBI baskets. Each individual who can prove their residence within a given city or region could then claim one of these baskets as their own, receiving distributions on a regular basis.
Looking at the bigger picture, in an era when any company can easily deploy its own token into the marketplace, we hope that Golden Land will lead the way in encouraging businesses to give back to their communities in the most direct and efficient method possible, via the aforementioned method of a locally-focused corporate UBI. Specifically, by working together with other companies to offer an even larger basket of local currencies distributed as a UBI, Golden Land can jumpstart a new future in which a city’s local businesses could collectively fulfill the basic needs of all community members.
In a city like Detroit, for instance, you could imagine that General Motors and Ford (in conjunction with other local businesses) might contribute a small percentage of their tokens into UBI baskets for Detroiters that all residents could own and profit from each week. Already, earlier this year, these two Detroit automakers have explored tokenization models, so this new concept of a UBI led by the business community is not a simply a dream but a distinct possibility within our grasp.
These community token releases could also have the secondary benefit of creating a virtuous cycle whereby citizens are vested in the decisions of local businesses, and local businesses likewise feel the need to be responsible in the community, due to the cumulative pressure a selling action – due to poor corporate citizenship – could have upon the price of their token.
If this concept snowballs and becomes attractive beyond our own blockchain, throughout the crypto industry and beyond, we will work together to create a corporate UBI consortium to intelligently make decisions about how we can best serve humanity together. There are many questions that remain to be answered, such as whether individual citizens will be left to their own devices in managing and selling large baskets of corporate tokens, or if businesses’ token donations will automatically be sold in exchange for a macro-UBI token such as Manna before distribution to individual citizens’ wallets. Regardless of these unanswered questions, however, each journey begins with a single step – and now is no time to stand still.
By Ken Chester and The Golden Land Team