Marshall Islands Launches World’s First Blockchain-Based Universal Basic Income Program
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Marshall Islands launches the first blockchain-based universal basic income (UBI) program using USDM1 sovereign bonds on the Stellar blockchain. This initiative replaces physical cash deliveries with instant digital transfers, enhancing the Economic Net Resource Allocation (ENRA) system.
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- Marshall Islands completed the first on-chain universal basic income disbursement.
- USDM1 sovereign bond backed by US Treasury bills operates on the Stellar blockchain.
- ENRA locally replaces quarterly physical cash deliveries with digital transfers.
Marshall Islands Finance Ministry executed universal basic income (UBI) payments using blockchain-based sovereign bonds. This marks the first government deployment of this payment method globally. The Pacific island nation distributed funds through USDM1 digital bonds operating on Stellar’s network infrastructure.
The ministry developed the system alongside Stellar Development Foundation and Crossmint to modernize Economic Net Resource Allocation (ENRA), the country’s existing universal income initiative. Physical currency distribution, occurring four times annually, has been removed in favor of instant digital wallet tr…
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