Manna is the first publicly traded, blockchain-based currency to be distributed as a Universal Basic Income subsidy to anyone in the world who applies and is verified as a unique human being. Manna, originally called Grantcoin, is also the first cryptocurrency to be managed and distributed by a U.S.-based tax-exempt nonprofit organization, and to be value-backed not only by investors, but also by tax-deductible donations which are used to buy back the token on markets where it trades. If sufficiently capitalized in the future, Manna will also be backed by profits from a capital reserve fund, similar to the Alaska Permanent Fund which pays an annual dividend to all citizens of the U.S. state of Alaska and is the longest-lasting and most successful UBI subsidy program in the world.
Since launching as Grantcoin in 2015, Manna has seen an 80-fold increase in price and has attained a circulating market cap of over $4 million USD as of January 1, 2018. (Note: This has continued to increase, more than doubling already in 2018.) There are more than 3,500 known stakeholders of Manna in at least 100 countries around the world. Through the end of 2017, over $250,000 USD had been given away as basic income in the formof Grantcoin or Manna currency. The Manna project aims to achieve three main goals:
1. Implement an economically impactful basic income on the blockchain, especially to help some of the world’s poorest people, children, and developing nations.
2. Enable targeted direct giving for highly efficient, effective altruism, utilizing the technological benefits of cryptocurrency and smart contracts.
3. Build a global network of socially conscious businesses, nonprofit organizations, and their customers and supporters, using the Manna currency as a tool to create a more equitable economy for a better future.
To achieve these goals, our diverse team of talented professionals and volunteers will raise capital; develop an online platform and associated apps and plugins for websites and smartphones; form partnerships with charities; reach out to businesses, financial institutions, governments, NGOs, and quasi-governmental organizations; and spread the word about Manna through a book tour, speaking engagements, social media, videos and artistic creations, and personal and professional networks to continue to grow the user base exponentially.
Ultimately, we envision Manna becoming an alternative global reserve currency backed by a portfolio of assets held by a global NGO. This currency will be distributed into circulation as a UBI subsidy and children’s savings account program, to ensure food security for the world’s neediest people and increased economic opportunity for young people. We believe this fiscally sound, socially responsible design will lead to Manna’s adoption by millions of users around the world.
