Marshall Islands launches world’s first blockchain-based UBI on Stellar blockchain

The Marshall Islands has taken a pioneering step by launching the world's first blockchain-based Universal Basic Income (UBI) on the Stellar blockchain. This initiative utilizes a digital currency named USDM1, which is backed by U.S. Treasuries. The government’s approach to provide direct financial aid to citizens stands as a potential alternative to traditional financial systems, especially beneficial for underserved regions. This innovative model exemplifies a new avenue in digital public finance and is expected to attract global attention, particularly in determining how UBI may impact poverty alleviation. By leveraging blockchain technology, the system enhances transparency and allows for traceable financial flows, which could foster international interest from investors and the global community alike.