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UBI

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    • Tags: #finance
  • South Korea’s UBI experiment - Gyeoggi Pay
    • In Gyeonggi Province, 200,000 participants, $250 every three months cash payout, no question asked
    • This experiment is expanded during COVID
      • $13 million participants
      • People have to spend this money in the local neighborhood
      • Drawn international attention
      • $430 dollars every month
    • Have to spend in local shops, and have to spend it before the next round of payment
    • Trickle down effect to shops and help them thrive during economic downtimes
    • The data is collected back to make sure they are being used to achieve their intentions
    • Privacy concerns with this are people fear this might be used to push certain political agendas