Crypto Altruism Podcast 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.
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Episode Time Stamps
02:00 - What was your “Ah hah” moment that got you excited about cryptocurrency and web3 in the beginning?
07:50 - On your website, you mention how “Glo is the anti-poverty version of the dollar.” Can you please give listeners a high-level overview of Glo?
10:05 - When individuals buy Glo, they passively produce a basic income for someone in extreme poverty. Tell me more about how this works.
15:55 -Tell me more about UBI and why it is such a powerful force for ending poverty.
20:30 - What’s the ultimate goal of Glo, and what would it take to get there?
24:50 - Stablecoins have gotten a bad rap lately following the collapse of UST and are facing a lot of regulatory scrutiny. How can stablecoins be a force for good?
30:15 - What does the roadmap look like over the next 6 months?
36:50 - What’s the best way for listeners to learn more about and support Glo Dollar?
40:10 - To wrap things up, if you could name one thing that excites you most about the social impact potential of web3, what would it be and why?
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DISCLAIMER
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 available HERE.
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