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Author Topic: Universal Basic Income on Blockchain?  (Read 287 times)
markm
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August 21, 2025, 02:35:12 AM
Last edit: August 21, 2025, 04:31:27 AM by markm
 #21

In Critical Path Bucky is pretty clear that he very much does not expect government nor big business to accomplish any such path, but also that it is a new kind of revolution, really an evolution, based on design science rather than ideological argument or persuasion.

Basically it has to be such a good solution that it would be stupid not to do it except of course for vested interests whose horse-and-buggy or whatever will appear less valuable in light of the new thing.

Which presumably actually depends upon scale since I am fairly confident that an old-style horse-and-buggy likely fetches a better price now than it did back in its heyday but the scale of how many one can expect to sell per year to Hollywood or who-ever might still like to have such a thing might despite population increase be less than in its heyday.

Equivalent functionality, depending on which theoretical function one could use such an item for, is likely much cheaper nowadays though; at least Bucky's premise is that that is the intended case.

I think a crypto for UBI should be fixed total number ever issued, the idea being to increase its value per unit to accommodate more beneficiaries and/or more value per beneficiary, rather than ever minting more.

Benefits could come solely from transaction fees.

Driving up the value would be done simply by buying units of it, or maybe rather, for benefit of CoinMarketCap type sites, by building an ever-stronger ever-deeper "buy side" for it, merely offering to buy rather than actually buying, but the offers being there so anyone having any could choose to sell to such offers (aka "dump" or "dip").

The big problem remains getting hold of stuff to build the "buy sides" out of. Smiley


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August 21, 2025, 04:28:05 AM
 #22

Absolutely love the curiosity around UBI and crypto. It’s a conversation that keeps gaining traction as both technology and economic inequality evolve side-by-side.

There are actually a few projects that have attempted crypto-based UBI models, GoodDollar, Proof of Humanity + UBI token, Circles UBI, etc. Each has its own mechanism, whether it’s based on identity verification, staking, or inflationary issuance. That said, adoption and sustainability have been major hurdles so far.

The idea of “earning crypto by doing nothing” sounds like free money, but in reality, the challenge lies in making it economically viable and resistant to abuse. You need solid tokenomics, anti-sybil protections (to stop people from gaming the system), and ideally some value loop that keeps the ecosystem afloat.

As for governments adopting it — they’re likely to be the last movers. We’ll probably see grassroots, decentralized implementations or even DAOs trying this before national governments do. But long term? If automation continues to replace jobs, UBI (crypto or fiat) might become a necessity rather than an experiment.

Curious if anyone here is working on something similar? Or if there's appetite for a fresh take on UBI in the web3 space?
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August 21, 2025, 04:38:39 AM
 #23

Well actually we already have it, in the form of bitcoin.

Income can be acquired simply by putting a buy offer, or column of buy offers, and waiting for someone to "dump" to them, then use the proceeds to create a sell offer, or column of sell offers, and wait for someone to buy from them, and so on back and forth, hopefully over time building the buy-side stronger and stronger and stronger and the sell side higher and higher and higher.

Making the buy-side ever stronger and deeper acts like a ratchet, or of course you can choose to look at the trading pair both ways around, treating your buying with bitcoin of the other side of the pair in the same way, so more than just a "ratchet" your columns of offers ultimately become more like a "constrictor".

This does not currently provide a consistent predictable income just one that so far has proven "inevitable"...


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August 22, 2025, 01:27:33 PM
 #24

Is there a crypto with UBI? If there isn't one yet, do you think governments will implement such a system in the future? If not, why? Your input would be greatly appreciated. Thank you. Smiley
First of all we need to know where this money is going to come from. Are there going to be any donators? Is Elon Musk going to give away some pennies from his fortune to become the emperor of the world in exchange?
From the money printer, the same source for all money coming into existence.

This concept isn't impossible to happen for real. The point is that it's not going to come from governments, because they already have their own means to run welfare programs (through the banking system), besides the fact there are going to be many cheaters, just like we see people cheating bounty, signature campaigns, airdrops, giveaways and promotions in general.
There is nothing to cheat, you don't understand the concept. Universal means for everyone. Everyone is getting it.
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August 22, 2025, 03:02:03 PM
 #25

I think this would depends on the country of origin because most of the countries aren't that cryptocurrency friendly, but for those who are already familiar with cryptocurrency and permits the buy and sell of cryptocurrency can as well permit such UBI.
I haven't had any idea of such around this forum and I have been looking for a way to join such where people earn through crypto or through their native currency which can be traded to stable coin and convert to real money. This could be another way to promote the cryptocurrency and make the UBI system gain more strength and popularity.

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August 24, 2025, 05:08:25 PM
 #26

UBI only sustainable when you got high yield low cost economy, maybe by taking advantage of robots.

The weight from giving out wealth for free to the people needs to be offloaded somewhere else and only utilization of robots and AI for farming, etc is possible.
As of now, the value that UBI give can only be derived from tax and that's another weight for the productive taxable people.

Unless there's a crypto that can solve this problem, I doubt there's one out there.

Let's not forget that UBI will allow the government to have more control over your financial life. You'll be given away "free money" in exchange for your data or personal info. There would be absolutely no privacy at all. Young generations prefer convenience, so they won't care about this. It's the inevitable future. Even more so with transformative technologies such as AI, Blockchain, and Quantum Computing.

Not only will privacy be non-existent, but society will be lazier than ever. I mean, who's going to work with a UBI system and AI + Robots in-charge of everything? I believe we're still in the "early days". So we can feel confident none of this will materialize during our lifetime. Just my opinion. Smiley

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