Africa is a rising crypto hub and a region that will become enormously valuable to web3 in the coming years. Currently, much of the value crypto brings is in easing remittance payments across borders and avoiding restrictions placed on money flow by restrictive governments. However, an underutilized benefit of crypto is its use as a simple transfer of value for Universal Basic Income (UBI).

Web3 aligns with the African economy because it directly relates to the resilient, growth-focused nature of those who live on this continent that is overlooked and exploited. If we want to replace the current socio-economic system that creates elite access to the economy with one that creates fair access – we first have to change the values that underpin it.

RightfulShare wants to show that a basic income is a prerequisite for creating a more inclusive and socially just economy - a fundamental goal of Web3 public goods. We want to show that a basic income stimulates entrepreneurship and innovation and that Web3 education provides the opportunity to do so. In addition, we want to provide the Web3 ecosystem access to diverse thinkers, builders and creators with experiences that can help ensure Web3 is not just siloed to those born in more privileged spaces.

Our pilot channels a crypto basic income directly to beneficiaries, allowing them to increase their economic activity, reduce their debt, and increase their savings while tapping into the resources and opportunities of Web3.

Pilot Roadmap:

1. Discovery and Design - In progress 2022
2. Launch - January 2023
3. Distribution of Crypto UBI to the value of $80 pm per person and linking beneficiaries to mentoring and training opportunities - February 2023 - February 2024
4. Completion of Analysis - March 2024
5. Release of Documentary - May 2024

Key Objectives:

1. Grassroots Organization: Organize basic income supporters and Web3 enthusiasts to lead the movement at a local, provincial and national level grounding the work in the local experiences of micro-entrepreneurs and creators.

2. Thought Leadership: Practically illustrate how to onboard previously disadvantaged groups into Web3 at scale and educate South Africans on basic income using stories and evidence generated by the pilot.

3. Political Impact: Advocate for legislative change to facilitate crypto adoption in South Africa.