Episode 93 - Glo - Fighting extreme poverty with Web3 and stablecoins

In episode 93, we’re excited to welcome Garm Lucassen and Jasper Driessens from Glo, a stablecoin with a mission to generate basic income and lift people out of extreme poverty. We discuss why Web3-enabled basic income is such a powerful force for fighting poverty, the mechanics behind the Glo Dollar, how crypto can drive financial inclusion, and much more.



--Three Key Takeaways--

• Stablecoin providers earn interest (~2.7%) by investing the fiat used to “purchase” the stablecoins in secure products such as treasury bonds. Glo will do the same, but instead of this interest generating profit for shareholders, it will go directly to basic income programs for those in extreme poverty.
• Basic income is a powerful tool for fighting extreme poverty as it puts power in the hands of the individual receiving the basic income with no strings attached, allowing them to make decisions on how to improve their lives based on their own unique circumstances.
• The majority of DAOs hold substantial funds in stablecoins, providing exciting opportunities for DAOs to play an important role in this movement and to help lift people out of extreme poverty.

--Full shownotes available at--
https://www.cryptoaltruism.org/blog/crypto-altruism-podcast-episode93-glo-fighting-extreme-poverty-with-web3-and-stablecoins



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While we may discuss specific web3 projects or cryptocurrencies on this podcast, please do not take any of this as investment advice, and please make sure to do your own research on potential investment opportunities, or any opportunity. We host a variety of guests on this podcast with the sole purpose of highlighting the social impact use cases of this technology. That being said, Crypto Altruism does not endorse any of these projects, and we recognize that, since this is an emerging sector, some may be operating in regulatory grey areas, and as such, we cannot confirm their legality in the jurisdictions in which they operate, especially as it pertains to decentralized finance protocols. So, before getting involved with any project, it’s important that you do your own research and confirm the legality of the project. More on the disclaimer at cryptoaltruism.org.

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