Universal Basic Income: The Crypto Way
Many people find the idea of a universal basic income offensive, ludicrous or even dangerous. Comparisons with communism are often made and there is a firm belief that giving people free money will lead to unproductive citizens who do not contribute to society.
Although many renowned economists have argued that an universal basic income could be a solution to poverty and it would empower those who have to struggle most; in our debt driven and labour based economy a UBI just rubs too many the wrong way to become a reality.
But times they are a changing.
Robotics and automatization will lead to a strong decline in low skilled labour jobs and will replace many who are currently employed in service and transport jobs. Soon universal income is not just a possibility. It will be a necessity, otherwise, we will lack people with money to buy all these goods which are produced better and cheaper by robots.
People will be more than just the work they do and leisure time will become an opportunity for personal growth.
Crypto currency is the perfect messenger for a global UBI system in this transition period we are in. It does not replace our current income structure, but adds to it and allows a new system to be created with the old.
I strongly believe that if you take a person out of a situation in which they see no perspective, they become happier, more creative, more productive and they will make better decisions. I hope crypto currency is the way to an universal basic income we can slip past the sceptics and will find them surprised the Brave New World is already here.
Oh this is an excellent video from Kurzgesagat, on Youtube. This helps the average man better understand Universal Basic Income (UBI). I thought this might be helpful for your followers since it directly addresses the sterotypes and mistrust of UBI. It references the Canadian UBI program which actually took place in the 70's.
Another good video, very insightful. Thanks for sharing.
You the Man, Infidel :-)
This is an excellent post, with a clear and concise writing style. Also that picture is bad-a$$, and the topic is so important. Upvoted, commented, resteemed and followed.
I couldnt agree more about the negative sentiment about UBI, and also that despite the bad feelings about it, it will be necessary, and soon.
As an FYI, Canada had an UBI for like 1 year or something, in the 60's I think. I heard about this from CP Grey on Youtube, I believe.
If you haven't heard of CP grey check him out on Youtube, and search:
You will probably like both, the first video tackles how computers can learn anything.
The second video (which is the older video) addresses how computers will take away our jobs, and touches a bit on UBI as I recall.
Great Video. It's so true that this is an inevitability. It never really occured to me to what level higher education jobs could be automated as well. Doctor Bot...true...true. So i guess the real questions are; how do we keep all those redundant people busy and how do they get the means to buy all those bot-produced goods? Thanks for posting.
Thank you so much for this reply. It's hard to tell what i appreciate most, but the fact that you think my picture is Bad-A$$ gave me the biggest smile.
Thanks for your follow. Gotta bring my kid to school now, but when I am back, I will sit down and enjoy your video's.
I never thought about crypto being the key to the door of UBI. No reason that, like you said, have both systems running at the same time.
It's one of the things that I am concerned about.Robotics and Artificial Intelligence is a very great sector in general but thinking about the fact that people are going to be replaced by robots even on places where it is not necessary makes me wonder how we are going to make a living.
I personally think that the crypto world has a really big potential and I'm looking forward to see the new technology advances that are going to happen in that sector.
Thank you for contributing to the Steemit Community.Keep up the great work and I'm looking forward to your next posts.
People that will be replaced by robots are better of in the long run. It will free them to do other things with their time. It will require a different system and won't come overnight. but to me it is a blessing.
It is true that robots can work on places where humans shouldn't .. places such as volcanoes, toxic areas, radioactive areas.That is completely okay because that would benefit the human but if robotics goes even bigger than it is now then they are going to be replacing us even in less demanding jobs. Employers are going to be using Robots since they won't be needing to pay them and they would do the work more efficiently in a way, and humans are going to be at home not making money at all.
It is an interesting question, i know traditional economics dictates that if you give people money directly, it will not get them out of poverty, and what you need is to give them incentives to make sure they work, but as it seems the direct subsidy was never high enough to actually keep people living at a normal standard, and with low skilled jobs are going to disappear it is possible that UBI is the way. No doubt that crypto will allow for a transparent way to distribute wealth to people that need it and give a very clear insight on how they are actually using it. I guess time will tell.
Thanks. I find it interesting how traditional economic laws fail to grasp the crypto reality. I guess time will tell, but i am going to enjoy watching it unfold.
Yup, i found it hilarious when some old school rating system released a crypto currency rating. Pretty much like letting the horse carriage riders of 100 years ago to rate new car models, dafuq to they know right!?
Feel free to follow for more interesting questions to come :-)
I sure did. Good Luck!
Traditional economics is in trouble. There were already many experiments I read about showing that giving money directly is the best way.
I remember one example. There is a famine in some country. Other countries want to help so one of them has an idea to send bunch of cows. However many farmers need for example seeds. So they sell the cows for much lower price (especially that there is a surplus of cattle). Most money went to the original owners of the cows and charity and transportation companies. In essence this was very ineffective distribution right?
Another example is in form of a question :) Do you know what to buy for the birthday to your friends? Most people have problem with that. How would they know what to give to the people on the other side of the world? :)
And another fact about getting people out of poverty is one important feature of UBI - no means testing. Therefore we can get rid of the so called poverty traps - people who are in poverty with social systems today loose most of their income for (usually) just slightly more (but requiring 40h work per week). And they loose dignity and precious time going to social services to proof they are poor and need help.
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