Universal Basic Income Without Gov't: We're doing it anyway at Bitnation

A clever Swedish programmer named @johan-nygren is working with Bitnation to create a decentralized universal basic income. He calls this Resilience(RES). It uses the Ethereum block-chain and smart-contracts. How it works it as follows:

1. A person signs up for UBI by signing a smart contract that collects a voluntary tax.
2. The smart contract redistributes the collected taxes every so often.

It's a very simple concept. Similar to American Express Rewards program. We already have working examples of this like Visa, except all the money collected goes to a rich person. With the RES UBI, all the money collected gets redistributed. Another simple example is a food co-op: you get a portion of the profits of your grocery store. It doesn't seem like it would amount to much but on a global scale, it can provide large incomes to everyone if everyone uses it. Based on the global transactions of currency trading, we see $5trillion/day. Taxed at 5% that's $250billion/day. Divided by the 7.3 billion people on Earth, that's $34/day/person or $1020/month. Not too bad, eh? That would eradicate poverty overnight. It's almost comparable to many countries proposing their own UBI of 800Eur($912)/month.

If you'd like to learn more, help out, get involved, here is the draft white-paper:
Pangea Arbitration Token White Paper

Of course there are obstacles but nothing we can't overcome. We got around the slow block-chain transactions by using side-channels(state channels). We got around human greed by incentivizing the need to use RES to serve oneself. Many other obstacles have been overcome and now Bitnation is moving towards an ICO and getting the programmers ready to launch a beta. This is truly an exciting time and I hope everyone gets involved and we can move this along sooner rather than later. We can probably have UBI up and running in 6 months. The alternative is to wait 10 years for the gov't to come up with some half-measure. Come on over to our slack channel and jump on board:
Bitnation Slack Channel