The Marshall Islands has completed the much-anticipated disbursement of universal basic income (UBI) via the Stellar blockchain.
A spokesperson from the Ministry of Finance has clarified that the program is a fiscal distribution program, not a currency initiative.
The Republic of the Marshall Islands, in November, unveiled a Universal Basic Income (UBI) program that capitalizes on the government-issued digital wallets and stablecoin. In that report, it was stated that USDM1, a digitally native sovereign bond, would be used for these on-chain transfers via the Stellar blockchain. Today, this development has been completed.
According to reports, the UBI disbursement program was implemented in partnership with the Stellar Development Foundation (SDF) and infrastructure provider Crossmint. This program replaces the physical cash deliveries in each quarter to ensure that eligible citizens are adequately covered.
More About the USDM1 and the Stellar-Powered Program
In a previous repo
