Marshall Islands Implements Basic Income via Stellar

The Republic of the Marshall Islands has successfully completed the world's first blockchain-based on-chain distribution of a basic income. The digital-native sovereign debt token USDM1 was utilized via the Stellar blockchain.

This initiative was developed in partnership with the Stellar Development Foundation and infrastructure provider Crossmint, as part of the national basic income program known locally as ENRA. The Marshall Islands Ministry of Finance has confirmed this.

The program replaces quarterly cash distributions with on-chain digital transfers. The Marshall Islands consist of about 1,200 islands spread across a vast area of ocean, with many citizens residing in remote locations...