Universal Basic Income : A Crypto Approach
What if we each got money just for being human?
The idea of a basic income or universal allotment is not really a new one. In some form or another, it has been debated publicly for hundreds of years. The idea is to encourage human flourishing, increase innovation, and reduce suffering. If people don't have to worry about their BASIC needs, then they are given freedom to explore passions, seeks self improvement and success, or commit to public service.
It is by no means an easy thing to implement. How does the system remain funded? How would this effect the cost of living? What is to be said about our need for some kind of significance through work? These are questions that need to be worked out if someone intends to be taken seriously.
As we draw closer and closer to automation and machine learning making human labor cost prohibitive, the threat of massive joblessness is being felt. The fact is, automation and AI will not just effect low-wage or manual labor jobs. My job, as a lawyer, will be significantly impacted as well. Human lawyers may not be replaced, but the workforce will be reduced. Already, what used to take a team of five young lawyers a week, is now being done by computer algorithms in an hour. More or less for free. Computers are more accurate, faster, and cheaper.
Depressed yet? Well keep reading.
We're at this really ridiculous and hilarious time where people are trying to use blockchain technology to solve just about every problem they can think of. And I don't even want to talk about Long Island Ice Blockchain, or whatever they are calling themselves now.
In this space where even the absurd can gain traction, Mannabase seeks to tackle UBI.
It is a pretty simple premise: any person can sign up for free. Every verified individual receives regular distributions of Manna (the native cryptocurrency). Each person receives equal distributions as all other recipients. The distributions are funded through a combination of a reserve of initial starting coins and a preset inflation rate of 3.5%.
The group behind the project is the People's Currency Foundation, a 501(c)(3) non-profit in the US. They started this project under the name GrantCoin. That ran as a successful pilot, distribution roughly $250,000 worth of cryptocurrency to over 3,000 distinct individuals.
If you're interested in signing up here is my referral link: https://www.mannabase.com/?ref=b6b362152a
I get a little bonus if you use it, but don't feel obligated. You do you.
If you do sign up, make sure you activate your UBI distributions. You just have to click a button on the dashboard page. Next distribution is on March 1st, 2018.
EDIT: To receive the free distribution you need to FULLY register. If they didn't text you a code, then you're not done. AFTER THAT, there is a green "sign up for UBI" button on your dashboard. You need to click that. Sorry if that was not clear.
This could definitely go nowhere real quick. But you carry zero risk, so that's nice. One thing I am really interested in is the "Children's Savings Program" mentioned in the White Paper. The system allows you to create unique accounts for each of your children, from birth. They will receive distributions like everyone else and will be given access to the funds on their 18th birthday. Having five young kids myself, that is pretty exciting.
I like innovation. I like when people smarter than myself try to build something for the benefit of others. I like dreaming about the future as a place to look forward to. Let's do our best to make that happen.
Be blessed,
~Sam
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sounds great! Is there any other initiaves like this in the world ?
Good question. This is the first thing quite like this that I have heard about. I know that there is some ultra rich entrepreneur in California who is experimenting with UBI. He picked something like 500 people to give $1,000 cash to every month and will check back in a few years to evaluate what effect it has had. If it goes well, he wants to expand the program. Those numbers might be off a little, but the concept is true.
Hey there again, if you did in fact sing up, did you also do the full verification process where they send a code to your phone and ask for address? THEN hit the green "sign me up for UBI" ? I ask because my account says that I have some referrals that haven't been approved yet. Just wanted to make sure that you wouldn't be missing out if you thought you finished the sign up. If this doesn't apply, cheers anyway.
I believe we are on the right path, but until we can get around governments and regulators we're still kind of stuck in a holding pattern. I do have a great hope for the transition, seems to be inevitable. How it all plays out is yet to be determined. Have you heard of Jacque Fresco ? His ideas on the future I can get behind except for the centralized regulators. Now if we as humans, utilizing the free markets can accomplish these things, we will have truly set up heaven on earth. Peace, JerryT
It is not get around governments that is a problem, that can be done easier and easier with the cooperation of more, Unfortunately, everyone is trying to get rich instead of combining pennies to make a big difference, We need to change the infrastructure we call society or civilization, removing the puppet strings that tugs the politicians of government. This can be done with Citizen legislation on government and social economics.
Hey there again, if you did in fact sing up, did you also do the full verification process where they send a code to your phone and ask for address? THEN hit the green "sign me up for UBI" ? I ask because my account says that I have some referrals that haven't been approved yet. Just wanted to make sure that you wouldn't be missing out if you thought you finished the sign up. If this doesn't apply, cheers anyway.
Hi! Thanks for your support, @growingpower just upvoted your comment ;) Hope you have a great day
I think this is the right general direction as well (whether or not it is the exact right path). However, I do think governments and regulators have an important role to play in this, so long as they actually play it with integrity, accountability, and some good 'ol common sense.
I had never heard of Mr. Fresco before, but just did myself a little bit of googling. Seems like a real inspiring man. I'll have to spend some time with his works. Thanks for the tip! I do never much doubt that humans can set up a completely free market system that I can support and be proud of. I don't have to think any further than child prostitution to know that there is a real need for centralized regulation on at least some level.
Paradise or Oblivion you can find it on YouTube.
Hey man! Appreciate your thoughts about this. I have 5 kiddos too. I struggle with this. On one hand, we have people who are in need and on the other hand we have people who abuse generosity and kindness. And then to add to the mix we have never really seen a system that was not infiltrated by corruption and power hungry people.
I like the idea. I am not sure that in my lifetime we will see a system like this implemented. I hope things will change for the sake of my kids (and future grandchildren), but I trying to look at this through a realistic lens.
Gonna sign up anyway. There is nothing to lose.
following
Woohoo, it isn't often that I find someone else whose offspring can form a full basketball team. That's great!
I am right there with you, my man. We are seeing that play out on Steemit too. I have heard some incredible stories of people living in pretty dire circumstances and have had their lives significantly changed because they are able to earn $2-$10/day on this platform. Other's find ways to abuse the system and amass more power and wealth.
In my job and education, I have seen some systems of regulation work marvelously well and other's cripple innovation, or worse, serve only to keep the scales tipped in the favor of wealth. I don't know what the answer is, but I do know that a power shakedown can add some much needed disruption. It can also result in blow back.
And thanks for following! I was really happy to find your page today and am excited to engage with your writing.
Cheers.
Hi! Thanks for your support, @growingpower just upvoted your comment ;) Hope you have a great day
Hey there again, if you did in fact sing up, did you also do the full verification process where they send a code to your phone and ask for address? THEN hit the green "sign me up for UBI" ? I ask because my account says that I have some referrals that haven't been approved yet. Just wanted to make sure that you wouldn't be missing out if you thought you finished the sign up. If this doesn't apply, cheers anyway.
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STOPHey Man how's it going? I have signed up the other week and got accepted but did not know about the green button so will sort that. Thanks.