Universal Basic Income vs Universal Abundance Income
What is UAI (Universal Abundance Income)?
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UBI is currently being considered by many nations as a solution for the coming wave of technological unemployment, with pros and cons as well as flavours being debated at length. UBI will be necessary, but harder to attain than most of its proponents expect. UAI can be implemented sooner, without needing any government approval or involvement. We anticipate that, eventually, these will coexist, providing incomes to everyone.
One key difference between standard UBI and our proposed UAI is the currency used and how that currency is distributed.
UBI = fiat currency distributed from the top down
UAI = cryptocurrency distributed at the moment of creation
Another key difference is that UAI will include not only a basis in cryptocurrency, but also complementary currencies, or “currencies of abundance”. Such currencies have design features different than all existing national fiat money, and thereby effectively complement that money — incentivising desirable behavior, and helping to create a stable financial ecosystem.
One inherent difficulty with UBI is that cost of living nations varies significantly between nations (e.g. Zimbabwe vs. Monaco). However, the value of an HUID for advertising purposes (see our revenue model) should likewise vary, thereby making UAI an automatic way to differentiate payments based on need, at least in part.
The topics of UBI, distribution of wealth and incentivising prosocial behaviour are complex topics and central to our ethos. For key background information, please see the following articles:
- Introducing the Universal Abundance Income by Michael Haupt
- Gamifying the Distribution of Money by Daniel Jeffries
- Guaranteed Mirage Income? by Jonathan Kolber (with a new proposal for how to attain UBI coming shortly)
- How to Generate UBI in Cryptocurrency by Daniel Jeffries
- What Triple-Entry Accounting Means to Society by Daniel Jeffries
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Find out the details of our Revenue Model and the Assumptions and Research we used to come up with the numbers, find out how you can help or check out the Frequently Asked Questions.
