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Title: Can blockchain solution deliver GBI (global basic income)? Post by: LuckyLucy on October 26, 2017, 11:09:11 AM Can blockchain solution deliver GBI (global basic income)? Have you seen any projects that would come close to it? ???
Title: Re: Can blockchain solution deliver GBI (global basic income)? Post by: krishnapramod on October 26, 2017, 12:36:00 PM There is Grantcoin, the first blockchain-based universal basic income cryptocurrency. It is currently valued at $0.002145, with only one exchange, and haven't been traded in the last 24 hours, maybe more than that. I don't know how Grantcoin distribution works, but did come across an interesting article on Wikiversity about the concept of implementing a basic income cryptocurrency.
1. The UBI cryptocurrency may be based on CryptoNote technology so that mining is suitable only for ordinary PC CPUs without any specific purpose devices. No cap. 2. To have a fair and equal distribution of a decentralized UBI cryptocurrency the underlying model should be centralized for authentication, to prevent some individuals creating multiple accounts, KYC. 3. Hourly distribution of coins to all the participants. Miners will get additional coins. The frequency can be changed as market evolves. 4. This is the tricky part. Having a good number of exchanges globally that would allow conversion of UBI currency to Fiat, Bitcoin, and other cryptocurrencies. 5. Making it available to be exchanged for products/services locally. It looks good on print, but carrying out a successful implementation of a universal basic income cryptocurrency is going to be too difficult. Certainly not difficult than governments implementing universal basic income currencies using Fiat, maybe a 100 years from now. A strong non-profit organization backed by prominent individuals and corporations could make it possible. One of the strong criticisms about UBI is that giving free money will make people work less/lazy and it would have a bad impact on economy. Countries without enough job opportunities, unemployment, employed, but with ridiculously low wages, poverty. There is too much of poverty in the world to bother a bit about laziness. In the future we might see a globally adopted UBI cryptocurrency. http://www.grantcoin.org https://en.m.wikiversity.org/wiki/Basic_income_cryptocurrency |