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Quick Answers to Quick Questions: Jeffrey Milewksi, Co-Founder, Global Income Coin

By June 17, 2022June 22nd, 2022Article

Following his role as research director and instructor of fintech at Creighton University, San Francisco-based economist, Jeffrey Milewski co-founded the non-profit Global Income Coin.

The crypto company aims to provide a universal basic income of $1 to any person worldwide. Initial funding of $2 million is from a personal donation of Sid Sijbrandij (co-founder and CEO of GitLab Inc.).

M.R. Rangaswami: Why did you co-found a nonprofit that wants to utilize crypto as a way to provide universal basic income worldwide? 

Jeffrey Milewski: I’m inspired by the potential of crypto to make a major positive impact in the world. Crypto is an exciting technology that has transformed the way we think about and actually use money. We think the timing is right to leverage it for a good cause. Over the years, blockchain technology has proven to be a trustworthy and a legitimate mechanism for value transfer.

More recent innovations have addressed issues of scalability. We are now able to develop a new monetary model using crypto that can be efficiently adopted worldwide as a form of useful money. The universal basic income aspect of our model is driven by our mission to use crypto for good. Specifically, we aim to reduce extreme poverty by giving $1 a day of income to everyone in the world. As a nonprofit, we want people to trust and support Global Income Coin as both an organization and a new currency.

M.R. How can nonprofits add value to the crypto ecosystem?

Jeffrey: Many people have a skeptical view of crypto because of its speculative nature and its association with ponzi-like schemes. There typically is some group of individuals that profit tremendously from the promotion of the new token. A nonprofit entity is in a much better position to avoid this negative association and draw in the crypto-skeptic population. We want to create greater trust in the crypto ecosystem by being a nonprofit that honestly incentivizes users to participate in our project. 

M.R.: Why should nonprofits consider crypto as part of their strategy?

Jeffrey: We are using crypto because it is inherently permissionless, which means we can introduce a new currency through a grassroots movement without depending on an incumbent party. This also means the crypto as a technology can accelerate financial inclusion in areas where incumbent parties haven’t served potential customers or even restricted access. 

M.R. Rangaswami is the Co-Founder of

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