Universal Basic Income (UBI) is slowly but surely gaining traction as a concept in 21st century society. As we enter a future that is becoming increasingly automated, humanity is left with a Catch-22 that is yearning for a solution:
What are we going to do with the 50% of our workforce that will end up laid off due to automation?
Thriving on the cutting edge of technology, a portion of the blockchain community and the global economy have dedicated themselves to trying to solve this problem.
Here are 5 cryptocurrencies that are working to utilize Universal Basic Income in an effort to alleviate poverty around the globe.
Manna/Grantcoin
Manna/Grantcoin is based around the provision of basic income through a “social dividend” which acts as a counterbalance to job loss from automation. It seeks to create a just and sustainable economy that respects all humans and works to alleviate wealth disparity, provide the basic essentials for life and end widespread economic corruption.
Mannabase is the user hub where participants in the Manna economy go to meet. By signing up, you can receive a Manna UBI, and the website also doubles as a social network for interaction with others. Manna provides tools for targeted donations to charitable organizations and nonprofits through the “Giving Portfolio” that lets you decide where your donation goes.
You can refer people for bonus UBI received per referral, and the program will continue until its limit is reached!
UniversalCoin
UniversalCoin.io wants to help the financial disadvantaged in a world where a select few Uber-rich individuals have inherited massive amounts of wealth. UniversalCoin believes that in a world which is rampant with speculation, greed and wealth disparity; Every individual deserves the right to fairly participate in the global economy.
UniversalCoin poses the following question:
In a society that is unfair, unbalanced and exclusive; Can Cryptocurrency be seriously considered for adoption as a solution? Can UniversalCoin generate wealth on a global scale through popular consensus and fair distribution?
UniversalCoin will be distributed to the public from January 15, 2018 through October 15, 2018, with 80% of it distributed over this 40 week time period.
Duniter
Duniter differentiates itself from other coins like Bitcoin, Litecoin, etc. through two main characteristics:
The underlying technology includes a “Universal Dividend” and a Web of Trust, and the Blockchain code is designed to be more efficient by eliminate the Proof of Stake concept (Rewarding the Richest miners).
As a member of the community, you are labelled as a co-producer of money, allowing you to receive Universal Basic Income through Dividend payouts.
Duniter only allows members into the network if signatures from current members are acquired prior to joining. It operates on a P2P network, and works through the concept of a free currency not being controllable by a minority group; Thus allowing it to stay a free currency.
The technology behind it seems quite advanced, but Duniter is a step forward in the problem of finding a solution to the looming unemployment crisis that UBI seeks to alleviate.
Swift Demand
Swift Demand currently boasts over 50,000 registered with a 10-20% growth rate per week. In the Swift Demand economy, over 400 product submissions are being circulated at this time and 120+ million swifts are set to be distributed.
Swift Demand is another digital currency designed to act as a Universal Basic Income (UBI) coin. You receive 100 Swifts per day to help incentivize growth of the platform and scale with the ecosystem value as time goes on.
It utilizes DAO (Decentralized Autonomous Organization) technology, made famous by Ethereum, to support this process. Swift Demand recognizes the need for company buy-in to help move the Swift Demand economy forward; So accounts can be opened up individually or as a business entity.
Its an interesting concept that so far is one of the few currently operating UBI coins. Start receiving your 100 Swifts per day here!
Purpose/DUBI
Purpose/DUBI is based around the concept of “decentralized altruism” in an effort to combat poverty and act as a counter balance to societies set to replace their workforce through automation and AI. Atruism and Philanthropy are at the core of the Purpose/DUBI project.
Purpose contributes to this altruism by rewarding those who HODL it. When you hold Purpose, a second token generates called DUBI (Decentralized Universal Basic Income) that incentivizes you to continue supporting the project.
The community is quite large and boasts an independent group of volunteer developers that are working on it. Purpose/DUBI is a project that I will be keeping my own on over the new few months!
These are just five of the many coins that are being worked on to provide Universal Basic Income and help alleviate poverty. I’m excited for the development of this awesome UBI concept within the context of cryptocurrency!
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