eToro, which operates a CFD trading and investment platform, is investing $1 million into GoodDollar, an open source community project that is seeking to address the world’s wealth inequality. The project revolves around a cryptocurrency that allows the unbanked and needy to benefit from a “social interest” income. Initially, the GoodDollar initiative will be in an experimental phase that aims to promote the non-speculative coin to support the creation and distribution of a universal basic income (UBI) via smart contracts. Verified participants will be able to get the coins for free.

According to Yoni Assia, CEO of eToro, one of the greatest challenges today is global wealth inequality. Last year, the experts estimated that 1% of the world’s population owned more than 50% of the wealth….

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