Towards a Decentralized Global Universal Basic Income

In this post I’d like to explain how local cryptocurrencies can make a global unconditional basic income happen and how Encointer solves the technical and economical challenges involved. Finally, I’ll give you a brief overview on what you can already do with our recently launched testnet Gesell today.

Global Universal Basic Income

Why Local Money Should be Perishable

Money supply for a stationary economy with a demurrage fee of 7% per month and a population of 10’000 participants. After an initial phase, the UBI of 1 token per ceremony maintains a constant ratio to the total money supply and therefore maintains a constant real value.

Proof of Personhood

Publicly accessible meetup locations are selected upon bootstrapping a new local currency

Testnet Gesell

What’s next?

Your turn!

Founder of encointer.org, department head at Supercomputing Systems AG

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