This page answers some of the commonly asked questions about the GBA Token.
What is the GBA Token?
The GBA Token is actually two tokens. There is a reward token and a voting token. The voting token will be used as we implement governance structures for the GBA to make organizational decisions. The rewards token will be issued to GBA members in appreciation for the contributions that they have made to the GBA community.
Why Has GBA Issued Tokens?
The GBA has a long-term goal of transitioning into a Decentralized Autonomous Organization (DAO). In order to facilitate the transition, the GBA needs to establish mechanisms for decision-making and incentives. The GBA voting token will be used to support consensus-based decisions for the organization. The reward token will help to establish incentives for people to be productive and
Why Are There Two Tokens?
Some government employees may be prohibited from receiving gifts. Other people may have prohibitions related to other conflicts of interest that make it inappropriate for them to receive reward tokens. Those people may opt-out of the reward token and just receive voting tokens.
How Do I Set Up My GBA Token Wallet?
There are three steps to setting up your wallet. They are:
- Go to www.https://www.myearth.idand download the decentralized identity application onto your mobile device.
- Establish a decentralized identity using the EarthID application on your mobile device. Note: Your earthID email and your GBA profile must list the same email or the GBBP Wallet will not recognize you as a GBA member.
- From your computer browser, go to https://metamask.io and install the browser extension.
- Go to https://gba-gbbp.azurewebsites.net and log in using the link in the top right corner.
- Use the EarthID application on your mobile device to scan the webpage QR code.
If you have any questions or challenges, please contact support@GBAglobal.freshdesk.com
How Do I Earn Tokens?
- Initial Distribution – There is an initial distribution of 250,000 tokens. This distribution is intended for people who have contributed to building the GBA community since it started in 2017. Any active GBA member is eligible to receive tokens. However, you must be logged into the GBA website to see and complete the GBA Token Initial Distribution Form at www.gbaglobal.org/gba-token-initial-distribution to request tokens for the contributions of effort and resources between 2017 and the end of July 2021, The submitted forms will be reviewed by a group called GBA Electors. This group was established in the GBA By-Laws to provide oversight of the organization and ensure that we are a member-driven organization. The forms will be delivered to the GBA Electors for them to vote on the distribution of tokens. Submissions may be made until August 6, 2021. Then the Electors will vote and the tokens will be distributed.
- Ongoing Monthly Distributions – Each month the GBA will distribute tokens based on the monthly membership sales. And the GBA members will be able to use voting tokens to determine how the monthly distribution of GBA tokens will be allocated to groups and individuals.
What Can I Do With The Tokens?
The voting token is used for GBA members to vote on leadership assignments and strategic initiatives. The reward token may be used to pay for memberships, renewals, training, conferences, and other In-network GBA expenses. GBA tokens will continue to be used in the GBA ecosystem. Additional uses may be realized as the legal and regulatory environment is stabilized. Future uses of the tokens will be reviewed and evaluated by the leadership team for legal compliance.
Is the GBA Token an ICO?
No. GBA will not sell the token to raise funds. The tokens are not intended to be an investment contract. They are intended to be used as a utility to facilitate improved decision-making and encouraging volunteering and contributions to the GBA.
For more information about the GBA Token, please contact support@GBAglobal.freshdesk.com.