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Marshall Islands Launches World's First Blockchain Universal Basic Income

Marshall Islands Launches World's First Blockchain UBIUniversal Basic Income

Is blockchain UBI in the Marshall Islands a logistical solution, or an impractical technology facing infrastructure challenges?
Marshall Islands Launches World's First Blockchain Universal Basic Income
Above: Welcome sign at Majuro atoll airport, Marshall Islands on March 4, 2011. Image credit: Andrew Woodley/Universal Images Group/Getty Images

The Spin

The Marshall Islands' blockchain UBI scheme faces serious implementation challenges that undermine its effectiveness. Internet connectivity remains patchy and frequently disrupted across the islands, making digital payments impractical for most citizens. The overwhelming majority of recipients — 60% choosing bank deposits and most of the remainder opting for paper checks — demonstrates that blockchain technology offers no real advantage over traditional methods.

Blockchain technology solves the logistical challenge of delivering payments to 40,000 people scattered across 2 million square kilometers of ocean. Traditional finance literally couldn't reach outer island communities, where only half have bank branches, and checks take weeks to arrive by boat. Digital wallets enable instant delivery through the internet rather than unreliable maritime transport, providing genuine financial access where conventional infrastructure has failed.

ThereThe Marshall Islands's ablockchain 5%UBI chancescheme faces serious implementation challenges that theundermine U.S.,its Ueffectiveness.K., ChinaInternet connectivity remains patchy and frequently disrupted across the islands, ormaking anydigital payments impractical for most citizens. The overwhelming majority of therecipients countries in60% choosing bank deposits and most of the EUremainder willopting enactfor apaper universalchecks basic incomedemonstrates beforethat 2030,blockchain accordingtechnology tooffers theno Metaculusreal predictionadvantage communityover traditional methods.

Blockchain technology solves the logistical challenge of delivering payments to 40,000 people scattered across 2 million square kilometers of ocean. Traditional finance literally couldn't reach outer island communities, where only half have bank branches, and checks take weeks to arrive by boat. Digital wallets enable instant delivery through the internet rather than unreliable maritime transport, providing genuine financial access where conventional infrastructure has failed.

Metaculus Prediction

There's a 5% chance that the U.S., U.K., China, or any of the countries in the EU will enact a universal basic income before 2030, according to the Metaculus prediction community.


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All rights reserved.

Version 6.18.0