Good Money is a project that hopes to increase people’s interest in cryptocurrencies.
Getting people interested in crypto is a long process and it’s not always successful. Most people who read up on crypto, say it’s either too time consuming or not “developed” enough.
By “developed”, most people mean easy to use and understand software. Although a lot of time has passed since 2009 and significant progress has been made, we’re still a long way away from easy and widespread crypto usage.
So what is the easiest way to get people interested in crypto? Gunnar Lovelace, Thrive Market’s former co-founder, thinks he has found the formula for success. Lovelace hopes to use a network of popular bloggers he built up by promoting the health marketplace. He hopes to turn all the fitness fans to crypto.
The ambitious plans also hope to include many celebrities, actors, life coaches, Youtubers, book authors and even U2’s frontman Bono. However, the company has been very discreet around this new project. The project has only been heard of certain whispers and detailed information has supposedly only been shared at large crypto events.
This project is revolutionary because it indicates of the level of trust in mass media, government and “official” institutions. It appears that people, especially the younger generations share an absolute mistrust of mass media, banks and other financial institutions. Lovelace will focus the project on the idea that mass adoption and increased usage requires: a simpler, friendly and modern user interface, more simple, yet modern market strategy, use of well received personalities regardless of political affiliation.
Good Money will be a mobile-first banking platform. Interoperation between crypto and fiat will be one of the key points. Other ICOs have promised many of the same things “Good Money” promises: fast transactions, 24/7 support, friendly and fun user experience and so on. A very unique part of this project is the marketing approach. The token ecosystem aims for $80 million to be raised by the sale of GDMY tokens or “Good Shares,” tokenized equity in the company.
Good Money offers plenty of opportunities for its users
The user base can look to around $12-15 million coin offering, which is yet to be determined by the token price. Acquiring the required capital will enable an aggressive social media strategy. By using the services of popular bloggers, the company can attract a large % of their millennial user base. Younger people are by nature more friendly towards innovative practices.
This aggressive strategy, even if successful is nothing without a solid technical backbone and reliable security. The project will offer 2 tokens, both of which will be held by the “core beachhead” or the custodial wallet of the company. Good Money will most likely be ran on the EOS blockchain but nothing is set in stone at this point.
The release is projected to be around September 2019. The consumer token will be a stablecoin named GOODS. One GOODS will be worth exactly $1. A total of 100 billion GDMY security tokens will be minted. They will eventually be split equally into two pools, one for the team and one for investors. A total of 30.31% of the pool has been set aside for the owners.
The second pool however, will take a long time to be released. It will take a total of 16 years for the entire pool to be released. The idea behind this move is to cover the prices of incentives, marketing and operations. The GDMY is set to start trading on January 1st, 2019.
Users will also be able to earn the GDMY tokens. Earning tokens will give them the right to vote over which causes the project will support. There is also an unconfirmed promise that customers who use GOODS commercially will be rewarded with a 4-8% cash back in GDMY.
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