The Marshall Islands has launched a pioneering universal basic income (UBI) program, unique for its use of cryptocurrency alongside traditional payment methods. Each citizen will receive quarterly payments of around $200, aiming to alleviate rising living costs, with options for bank transfers, checks, or a government-backed digital wallet. The initiative, funded by a trust fund related to U.S. nuclear testing compensation, leverages blockchain technology to facilitate payments across the archipelago’s remote islands. While the digital payment method offers potential benefits in accessibility, especially in remote areas, challenges remain due to patchy internet connectivity and limited adoption of digital wallets.
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Albuquerque, New Mexico, is using over $2 million in cannabis tax revenue to fund a $4.02 million basic income pilot program. This program provides 80 families in low-performing school districts with $750 monthly payments and financial counseling. The initiative aims to address wealth inequality and mitigate the harms of past cannabis criminalization, prioritizing marginalized communities. While proponents cite potential benefits like improved housing and mental health, critics view such programs as socialistic and potentially disincentivizing work. The city council emphasizes the need for measurable outcomes to evaluate the program’s effectiveness.
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A three-year study in Germany found that providing a €1,200 monthly universal basic income (UBI) to 107 participants did not lead to decreased employment or work hours. Instead, recipients experienced significant improvements in overall well-being and mental health, comparable to major life events. Increased savings and altered spending patterns, particularly towards travel and social activities, were observed. These positive effects remained stable throughout the study, suggesting that UBI broadened possibilities rather than fundamentally changing participants’ values or personalities.
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John Q. Hosedrinker