Basic Income: Lucrii

The last block I wrote on basic income got a ton ff mixed reviews which inspired me to dig even deeper and reevaluate my position. The original approach I came up with was to create governance services out of smart contracts that would cost a small fee. That small fee would get pooled into a basic income contract that would then get distributed out to recipients. Essentially this would be a governance+tax system. The benefits to this system being built on a blockchain are the added fault tolerance and transparency. However the BI is based solely on how many people are participating in the governance services. At this stage Expanse is such a new software that number would only be in hundreds. So I did further research, interviewed a handful B.I. supporters and came up with another method.

Another Method

Basic Income “ is an income unconditionally granted to all on an individual basis, without means test or work requirement” . How can we possibly do that with out funds coming in, to then redistribute? Pretty easily with smart contracts. Smart contracts are computer protocols that facilitate, verify, or enforce the negotiation or performance of a contract, or that obviate the need for a contractual clause. In simpler words, smart contracts are computer programs that autonomously interact with data. In this case the smart contracts would mint, distribute and transfer value tokens named “Lucrii”.

The Flow

Identities using the expanse software will interact with the BasicIncome: Lucrii contract and register themselves. An administrator/validator will then validate that person. Validation could also be done autonomously in a later iteration. After the person has been validated they will have the ability to mint and use 1000 new Lucrii tokens every 30 days.

Lucrii can be used to seamlessly transact for goods and services anywhere in the world for little to no cost. A lucrii’s value is determined solely by the free market.