Bitcoin Forum

Would it be possible to set up a cryptocurrency that pays out a regular amount to people who download an app, as well as obviously paying miners, so it can be traded for a local currency on a platform such as Coinbase and thus used as a Universal Basic Income without needing any government to set up a scheme?

I do not know a great deal about crypto or blockchain and know such a scheme would be much more complex in reality than the brief outline given above but I'm just trying to establish whether such a thing would be feasible.

I know a particular token that does it, storm token paid users for downloading certain applications and games, you can earn real currency while playing those games too.

I have been hearing about such a project from last many years but there is nothing solid yet available and i think such a project cannot be realized untill there is a stable and huge source of revenue that should be provided by big governments or institutions.

Thank you very much for your reply. Do you have any more information on this?

Making such cryptocurrency is possible, even there are some that have done that, but the problem is how you can make that coin's value not deplete due to being issued without reason, it is like printing money as much as you can and you can't hope to the money to be able to hold if that goes on

I agree.Such coin won't have any value,because it would be given away for free and it's non-usable,because no merchant or crypto exchange will accept it.The idea of universal basic income has nothing to do with the crypto-world and there's no way to be implemented successfully.

There are already a couple of altcoins and tokens that specifically market themselves as being universal basic income projects.
I've made a pretty large overview thread of all the current crypto basic income projects.

Have a look here:

https://bitcointalk.org/index.php?topic=3242065

There are 24 projects listed, if you ever come across any that aren't listed, send me a pm or reply to the thread ;)


That's not a universal basic income project.


I completely disagree , yes, they need an additional source of funding, but it's not impossible to find this. NGO's or governments could easily fund this.
Basic income would be relatively easy to fund for people in third world countries for example. Some countries have an average monthly wage of less than $100.

Heck, even a remotely wealthy philanthropist could secure enough funding to provide thousands of people with a form of basic income.

I think in the present situation this is not possible because I wonder where the fund that going to distribute came from. I think it is possible if they only give a incentives when the app user will going to buy crypto using the app they downloded not directly giving a income or reward once they download the crypto app because there is return of investment when it's happened.

What you're asking for seems to be more complicated, you ask for Basic Income but without a scheme, then what principles / principles should you use?
magic ? Paying trader and miner? then who are the customers and investors ?

Even real life, some people are getting struggle for their life

I'm really just trying to find out what the current thinking, if any, has been on the issue.