I have been thinking about basic income for a while in the past.

After first analysis i thought that is a silly idea that cannot work in our society. With cryptocurrencies i changed that perception, as i think basic income would be a great way to distribute currency and since in crypto we can just create currency out of thin air (wo debt) it would be easy to create. However we would also need to find a way to create demand for the currency in order for the system to make sense.

As you point out also the printing of money in economic slow down will be helpful to the economy while value will be kept stable when the economy grows. I think your approach would be much more effective of keeping the economy stable than our fiat and interest system.

I think implement something like this is possible with crypto, however we also need an application where such a currency is needed.

Furthermore it will only work with a functioning ID system. I think ID is in fact the biggest hurdle right now in crypto and software systems in general, as many useful social application would require them. Imagine how easy it would be to have decentralized mining if we had ID. I am currently working on a solution to the ID problem. Let me know if you are interested in such a thing.