Is Cryptocurrency The Way To Achieve A Basic Income?
Basic income is the idea that everyone should have a base salary to cover their basic needs such as rent and food. This way no one has to worry about work and could strive towards a passion instead of a job. There are arguments against it, that people will turn lazy, but I feel people will always find something to do, it is in our nature. And a world where people do not have to do a 9-5 will free up a lot of room for creatives, academics and inventors to grow in their field. It is a nice idea but a very difficult one to obtain. But can cryptocurrency get us there?
The first goal is some kind of way of guaranteeing that no one is double dipping. This can be done with biometrics and other methods that lock on account to one person. You need to make sure that this person is only getting one share of the income and can not setup another account. But this also leads to the idea of people's identity being on a blockchain which is a scary dystopian future where anyone can be scanned and marked. So we need to find a middle ground here.
Then you need to decide how much people get and where this coin is accepted. Since the money is supposed to be used for basic needs having only clothing stores, the government and grocers taking it would stop people from buying luxury items. You can even make only specific items that quality and this will cut down on abuse.
But if we can work out the kinks it could work with crypto. The government would dispense x amount per month to your account and you could use it day-to-day. And since you can only buy so much with it, the economy could still thrive.
Just an idea, would need to do a lot more research before writing something more concrete, but I do think it is doable.