Blockchain for a UBI system

Creating a UBI (Universal Basic Income) system using Blockchain-
Part 1

“Wiping every tear from every eye” — Mahatma Gandhi

UBI, or Universal Basic Income, has always been a hotly debated topic. UBI could have quite a few benefits that could bring about more social equality and a more even distribution of wealth. Great thinkers such as Thomas Paine called for something known as the “Citizens dividend” which is UBI that would be paid from tax taken from landowners. The great economist Milton Friedman endorsed Basic income since 1962. Dr. Martin Luther King Jr called for a basic income in his book “Where do we go from here”.

Creating a UBI (Universal Basic Income) system using Blockchain-
Part 2

With the disruption in both creation and distribution of money through cryptocurrency, we are proposing a Blockchain agnostic UBI protocol. This basically means that the economic model proposed in this series of articles can be applied on any Blockchain by proposing an improvement such as the BIP series for Bitcoin. The Tezos Blockchain could be a starting point for this system because of the governance mechanism that is in place that can fold in protocol upgrades to the Blockchain.

Creating a UBI (Universal Basic Income) system using Blockchain-
Part 3

Since the economics behind an UBI is changing quite fast based on results of long trials, flexibility is required for the system to adapt to changing economics without the loss of trust in the underlying currency. Scalability and privacy based solutions that might add to the Blockchain would need to be done without disrupting the underlying currency. Upgrades to the software resulting from either improved software or changed economics should be designed so as to not disrupt the underlying currency; because of all the above reasons, Tezos could be a good starting point to trial a UBI based cryptocurrency system.

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