DIGITAL UBI ECONOMY
Putting digital currency in the hands of South Africans to access their rightful share of the digital economy
RightfulShare, is a first-of-a-kind project that aims to create a more accessible and fair economy, starting with a small rural community in South Africa, the most unequal country in the world.
Our mission is to distribute a digital basic income while simultaneously building a micro-economy using tokenomics to promote entrepreneurship and innovation.
Our approach is unique in that we’re not just talking about change – we’re actually creating a working model of a fair economy that everyone can see in action.
We want to give aspirational and ambitious South Africans who are currently locked out of opportunities the chance to increase and diversify their income streams, to learn and to build their wealth.
We want to demonstrate that it is possible and more effective to give socio-economic investment money directly to citizens. Socio-economic investment can go straight into the hands of beneficiaries as a basic income. It will save corporates time and money by removing the need for overly bureaucratic programmes and complicated scorecards.
Blockchain technology further reduces the opportunities for corruption by reducing the discretionary power of government officials and cutting out intermediaries.
I have always felt a strong sense of responsibility to improve the socioeconomic conditions in South Africa.
My passion for making a difference led me to develop a policy proposal called RightfulShare which draws on the idea of basic income but is adjusted to suit our unique circumstances.When it didn’t gain enough traction in Parliament I decided to establish a nonprofit in 2020 and implement my policy on a small scale.
At the time, the innovation in basic income was happening in blockchain communities, where thousands around the globe had begun to experiment with new approaches for how to practically deliver and pay for a basic income at scale. I realized that building on top of GoodDollar and issuing a digital basic income would give the project a modern edge, make it more appealing to young people, make it easier to scale and open up more learning and business opportunities.
There are so many creative, talented and skilled individuals in the rural towns across South Africa. People who make a living and run businesses with very little support from authorities and the formal financial sector. For example, Kitso who sells perfume, Sheila with her tuckshop, and Delano with a goat business. But, time and again their aspirations are hampered by limited access to resources and insufficient funds.
We are changing that. RightfulShare channels a digital basic income directly to beneficiaries, allowing them to increase their economic activity, reduce their debt, and increase their savings. But, most importantly, it allows them to tell their stories.
It is the story of what happens when you believe each individual has inherent worth, when you trust that they will act in their own self best interest, and when you give them access to resources and funds. It is the untold story of the informal economy, its resilience, and the massive opportunity it holds.
This story is important because if we want to replace a 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.
There has never been a better time than right now. Significant political realignment is taking place in South Africa and the time is ideal for new policy ideas. I believe that a basic income in the form of a ‘RightfulShare’ will channel money to our most important economic players, micro entrepreneurs, while also supplementing the incomes of those who rely on jobs and labour. It is affordable if we draw on technology and use existing ‘empowerment money’ in more socially just, efficient and effective ways. The best way to go about this is to experiment and show South Africans the way forward. I want to invite you to join us on this journey and to ultimately build a thriving, fair economy that allows millions of South Africans. to be their own boss.
Your money goes directly into the hands of a micro-entrepreneur as a digital basic income.
Our accounts are audited and we are registered as a nonprofit company with the CICP (2020/682633/08) and as a NGO with the Department of Social Development (259-728 NPO)
RightfulShare An Income Movement NPC