H/T Scott Santens via Twitter.
I really like the idea of a citywide Universal Basic Income. Half regular money $1000 and half cryptocurrency $1000.
A cryptocurrency (or crypto currency) is a medium of exchange using cryptography to secure the transactions and to control the creation of new units. Cryptocurrencies are a subset of alternative currencies, or specifically of digital currencies. Bitcoin became the first decentralized cryptocurrency in 2009. Since then, numerous cryptocurrencies have been created.
The current Federal Poverty Level is $1,005 monthly per person and $348.33 additional person. This means that the FPL will be covered, and the D-Coin concept takes care of city services and businesses as it is basically the modern version of scrip. This past weekend, I spent quality time with family members who live in and around Detroit at a family function; The direct topic did not arise, but attempting to catch up with Mom’s side of the family, Detroit’s renaissance was a topic. Doubts about the veracity of it were communicated, but we shall see where it lands.