The main argument for a universal basic income (UBI) is that it would reduce poverty and income inequality. Yet UBI advocates often overlook a range of other potential benefits.
Digital UBI payments can bring people into the financial system and build their financial capability, unlocking a range of development benefits for citizens and governments alike.
Take Mongolia for example. In 2014, 92 percent of adults had a bank account —by far the highest share in the developing world. (By comparison, only 43 percent of adults are banked in similar lower-middle income countries.)Young adults, a population often financially disenfranchised, see some […]
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