Can Basic Income Plus The Blockchain Build A New Economic System? | Fast Company

Can Basic Income Plus The Blockchain Build A New Economic System? | Fast Company

This article is now a year old but is still relevant today. BTW, the image seen in the social media tease is the current price (as of posting) of Ethereum, easily the #2 Cryptocurrency behind Bitcoin. Not a good week for it.

What is a blockchain? In short, it is a disintermediating technology. In other words, it removes the need for middlemen and trusted third-parties. When combined with other technologies, blockchains have the potential to disintermediate many areas of life, from banking to information storage to voting to the making and sharing of goods and services.

 

UBI is a progressive idea whose time may be coming, but the devil is in the details. Most of this support is for a UBI based on government fiat currencies like the dollar or the euro. It is almost exclusively locked into a welfare frame–as a wage subsidy to address layoffs expected from automation, or as a way to reduce government welfare bills–in other words, a different way of dealing with problems within the current economic paradigm. Existing power structures continue to reign, debt creation still controls the money supply, and the “infinite material growth on a finite planet” logic of extractive capitalism is left untouched.

 

via Can Basic Income Plus The Blockchain Build A New Economic System?

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