Transition to Postcapitalism 2 / 3

Roland Sassen

Introduction one: “Transition to Postcapitalism

As the time for postcapitalism has begun, several problems ask for a solution. How to stop companies and multinationals from becoming too powerful? Amsterdam has FairBnB and the FairPhone. Barcelona established the right to publish data as a public good. Rushkoff thinks a solution is to give every employee shares of the company she works for. Big data, gathered in China by the BAT trinity and in many other countries by Google, do not serve the citizens directly. Sassen shows a way for citizens to behave more according to their own values, with a personal valuation system. And by valuating products and services, companies and multinationals show up in search engines only when their behavior matches the citizens` social values. Ta’eed shows that such social values can be tokenized, establishing social value coins. A UBI (universal basic income) is, according to Sassen, a logical necessity. UBI-Vault has been made to distribute such a basic income automatically. Valuations, reputation, digital money and social value coins, can best be stored, according to Sassen, on what he calls Citizens` Islands, digital islands in the cloud, secured with blockchain technology. (R. S)

Introduction two: “to a new way of Trading and Sharing”

Money traditionally was established as an easier way of exchanging goods. Over time it has become a goal in itself, which has made it vulnerable to abuse. With the arrival of the internet, money has changed appearance: bitcoins are being introduced, but there is no stability there, nor enough connection with the coins as we know it.

A new bridge can be made between real time money and virtual money and, with a view to the future in which people will be less needed for certain jobs since robots will take over and give people more time for themselves, a new way of distributing money: a universal basic income (UBI).

As a first, privacy and security must be secured. For this Citizen’s Islands are invented: digital secure islands in the cloud. Private information, digital money and social value coins can be stored there safely and shared according to your own rules and values. Next to this, a simple automatic UBI distribution system is introduced. (S. K.)

Part 1 is about social value coins and projects, validation and reputation, and a basic income.

Part 2 is about social value exchanges, a social value distribution system and UBI as a social value project.

Part 3 is about Citizen`s Islands and Company`s Islands, how coins and reputation can be decentralized stored.

Part 4 is about how to achieve this (some say utopian) vision: Possible Pathways.

Part 5 is showing some consequences.

© Victor Sassen

Transition to Postcapitalism part 2

Seratio Bank and UBI-Vault

Social value exchanges, social value distribution system, UBI as a social value project.

In part one we have seen that there are tangible and intangible assets, there are coins for money and coins for social value projects. Money coins can be exchanged in social value coins and vice versa.

To distribute coins to citizens we make use of blockchain security technology. Transactions and coins are then stored in immutable blocks. Companies and citizens can digitally transfer coins from A to B without intermediaries like banks. Citizens can use their phone apps to pay with. In case of apps or shops demanding fiat money, an exchange can be used to change coins to fiat money. Also when companies, governments, organizations and citizens are going to make a donation in fiat money to social value projects, an exchange can be used.

To buy cryptocurrencies, like Ethereum or Bitcoin, several companies offer exchange services.

Where can we buy social value coins?

You can buy social value coins from the Seratio Bank in London.

What kind of bank is that?

The Seratio bank supports the sustainable development goals of the United Nations

What would be a clever way to contribute to these goals?

By supporting a UBI: a Universal Basic Income (UBI) contributes to 11 of the 17 sustainable development goals of the United Nations: TEDx Hilde Latour

How do you distribute a basic income to all citizens on this globe in a simple and secure way?

UBI-Vault, from the Netherlands, does exactly that, it is a UBI distribution system.

Money contributed to the UBI-Vault is automatically distributed among registered citizens.

UBI-Vault uses the Ethereum blockchain network, with the cryptocurrency Ethereum.

A sponsor or contributor to a UBI can use any commercial exchange to convert fiat money in the crypto currency Ethereum and then send it to UBI-Vault, however, the exchange fees at the Seratio Bank will be the lowest.

UBI-Vault launched Sept 16th 2019. You can download the UBI-Vault app from the Google play store here and register as a Universal Basic Income Citizen. Also you can contribute to a worldwide Universal Basic Income by donating to the UBI-Vault here.There is just one simple distribution rule: when the amount of money divided by the amount of citizens exceeds the basic income amount (starting at € 7) every citizen receives the basic income amount, automatically sent to her wallet.

© Judy Schwering

next: Transition to Postcapitalism 3: Citizen`s Islands and Company`s Islands

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