Sustainable Basic Income
Imagine basic income isn’t just a way to give people an arbitrary amount of money every month, but what if basic income was actually profit sharing. Picture every time someone interacts with a governance service in your organisation, that person pays a small fee and that fee goes into a smart contract that redistributes the revenue with every identity that asks for it. Many governmental social programs sort of behave like this, but what they lack is complete transparency so what ends up happening is misappropriation of the organizations revenue. In short they spend it on things like bridges to no where so their buddies can get rich at the expense of the tax payers.
We are creating a transparent governance platform that offers a wide range of traditional governance services. Each service will live as immutable coding on a public ledger and cost a small fee to use. That small fee will then get pooled into a basic income smart contract and be redistributed according to the citizens intent. The citizens will be able to vote directly on how the basic income pool is split between the citizens and the global initiatives. The basic global initiatives citizens will have access to are nutrition, housing, education, healthcare and protection from aggression. Rather than getting an arbitrary amount of money the citizens will also have the option to receive their basic income in the form of basic needs met.
We can fund this various ways.
- with part of the expanse reserve
- by creating a fee for all of the services
- make the mining fee go into the basic income contract
Even at the government level, I guess there isn't really much difference between corporation tax and enforced profit sharing. The biggest issues with welfare is, it increases the size of the 'state' and thus is bloated and expensive to maintain. I know certainly here in the UK, at a government level, the welfare state is a super complex minefield. A system like this would cost much less to administer.
The other Issue with socialist welfare, is it damages the aspirations of people, if it's putting food on the table and there is a risk of punishment if you earn over the criteria, it can have the opposite effect of acting like a safety net, it can act as a ceiling. Again, with something like this, if it's a guilt free safety net, which is not means tested, then it would act as a true safety net.
But any system that could help lift people out of poverty, prevent homelessness and make small steps towards reducing inequality, has to be a good thing right? :)
On a personal level, I dislike number 1.
I thought of some specifics about how to do this.
All basicIncomers, must pull their funds from the contract rather than the contract sending them funds. This makes the contract less expensive to run.
Something I was thinking about is, the basic income could be a completely different asset token that generates the moment its requested from the contract and it would be up do the basic incomers to give them value.
@ChrisFranko That's a great idea.