Roland Sassen
Oct 7 · 5 min read

Transition to Postcapitalism:

Possible Pathways and Consequences

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

Part 4: Possible Pathways

To Social Value Coins and Reputation, and their Storage on a Blockchain


2 China

3 Facebook

4 Arabia

5 UN /IMF /Worldbank

1 UBI-Vault is a simple basic income distribution system: money goes in and is distributed among citizens. Money can come from voluntarily contributions by multinationals, from sponsors, and from companies without owner (AI DAOs). As many people will want to register for free money, there will be a large market for third parties. They can add extra services to the registered citizens, like for example a Citizen`s Island.

2 From the Chinese government’s Plan for Implementation, the social credit system, SCS, is due to be fully implemented by 2020. Once implemented the system will manage the rewards, or punishments, of citizens on the basis of their economic and personal behaviour. A Citizen`s Island and Company`s Island technology will be easier to implement, maintain and extend, for the collection of information. Now the Chinese Government uses big data from the BAT trinity, and monitoring people`s offline behaviour with cameras. Not all is as bad as we think, according to the article How the West Got China’s Social Credit System Wrong. With Citizen`s Islands and Company`s Islands it is easy to reward citizens and companies with social value coins. The provisioning of a basic income, paid by companies (5% UBI contribution), is easy to implement by the Chinese government. See also Can Technology Help China Rebuild Social Trust?

3 Facebook is launching two “cryptocurrencies” (link) and “it’s the investment token holders who are reaping the returns, not the Libra currency holders” (Billion-Dollar Returns: The Upside of Facebook’s Libra Cryptocurrency). Adaption of Libra will be much faster when the Libra foundation decides to contribute let`s say 50% of the returns to UBI-Vault (25%) and to social value coins (25%). It is possible for a “Social impact partnerto become a founding member of the Libra Association. The Libra association can ask its members to contribute 5% of their revenue to UBI-Vault and social value coins.

4 Arabia. In the whitepaper of the Seratio Bank we can read on page 35:

“Arab values will be defined by financial instruments for good”. The Arab countries can not only develop such instruments but also make them available to the world.

5 UN /IMF /Worldbank. Such international organizations can immediately support social value coins, a UBI, and privacy with Citizens` Islands.

Part 5: Consequences

A transparent valuation system for companies and citizens will allow the shift in importance from the availability of money to social values. As earthly resources are being transformed by citizens and machines in a basic income and basic services, available as money coins and social value coins, citizens will be freed from the slavery of “bullshit jobs”.

Citizens` Islands will be a trigger for alternative search engines, social media platforms and retailer organizations.

Life after Google summary

Citizens will be able to control their own data, and to use decentralized social media. They will be able to buy goods from retailers corresponding to their social values.

© Victor Sassen

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