FinTech:
Blockchain: Universal Basic Income

Greg Kerr ... Blockchain: Universal Basic Income

Burgess COMMENTARY
I have been thinking along these lines for some time now. My concern is that the world is rapidly becoming more and more unsustainable, and we have to do something about this that is effective and fast. Let us therefore focus on how most efficiently to improve quality of life for everyone AND at the same time eliminate natural capital depletion and degradation. I see blockchain as a way to create the essential liquidity to fund basic income and the essential investments required in order to get to a sustainable world. Thanks for your article. Peter Burgess http://truevaluemetrics.org
Peter Burgess

Blockchain: Universal Basic Income

Cryptocurrencies will redefine valued-labor to encompass every day activities that satisfy the human condition. Earning digital currency for using a proper toilet or even for getting a full eight hours of sleep — the universal basic income will not be a handout, it will be defined by widespread access to value generation. Typically the concept of a basic universal income evokes an idea of a large-scale welfare; however through the lens of decentralized systems we can see the unlocking of universally attainable value.

Bitcoin’s major proof is that humans can now assign value to anything; in Bitcoin’s case value is set on computer labor. Expanding on this digital value designation, I wish to highlight a few companies that together demonstrate how every human can create and capture value.

Datum.org

Datum is creating a global data exchange by turning personal data into tradable commodities. This technology allows anyone to backup structured data like social network data, data from wearables, smart home and other IoT devices in a secure, private and anonymous manner.

Tijo of the podcast Arcane Bear properly describes; “Datum is taking the power of data back to the users who create all that wonderful selling points that companies like Google, Facebook and the like take advantage of without offering you any monetization possibilities. They make money off your data while you get nothing in return. It’s really a backwards system and Datum is looking to help put that power back in the hands of the people.”

The economics around behavioral and pattern-of-life data is staggering. Depending on context and circumstance individuals can earn hundreds, even thousands of dollars a year by taking control of the data companies trade about us.

Power Coins

I must caveat my writing by announcing I am a founder of ReNu Coin; a green energy currency set to the value of electricity produced from renewable sources. The genesis of ReNu Coin tells a lot about the role energy cryptocurrencies have as part of a universal income.

My team in West Africa constructed several renewably fueled off-the-grid energy power stations. One can draw many immediate conclusions to the overall good electricity brings to remote and vulnerable communities. However, beyond the obvious benefits, there is an immediate friction resulting from handing a leap-frogging utility to subsistence farmers. The blockchain offers a computer aided system in which communities that receive electricity grids can sustainably administer and govern the new infrastructure.

Digitally representing the value of the village waste that fuels the community biomass generators, a never before accessible financial tool is now in the hands of villagers to generate and manage the massive value and abundance all around them. Not only can villagers in remote African interiors capture the value of their garbage in their new waste-to-energy system, but this value is on a globally scalable investment platform.

Today’s combination of waste-to-energy technology and the blockchain reduces the requirements for any human to capture value, and subsequently invest in a global market by simply using a toilet or properly disposing of other waste.

Health Coins

Keeping with the principle that Bitcoin proved — that humans can now assign digital value to anything, some companies are assigning value to healthy behavior. CliniCoin, CoinMD, Healthcoin all incentivize healthy behavior with a digital coin. To include earning coins for sleeping. Many studies demonstrate direct ties between sleep and quality of life, productivity, income, stress and overall health — economically incentivizing sleep will have unforeseeable third and fourth level impacts on our societies.

Social Media, Dating and Gaming

Basically everything you do on an app today will be recreated on a blockchain with its own digital value or currency system. Each of these value systems will be exchangeable for other cryptocurrency or physical FIAT currency. The technical architecture of the decentralized apps of the near-tomorrow will reward users for participation and reputation within the parameters of the application. The user is the value of these systems and that value can now be captured and shared.

Computer Hosting and IoT Devices

All of the devices around us have more and more computing power; refrigerators, toasters, televisions etc. The next rendition of the internet will harvest the massive computation power of the meshed networks of devices. Along the lines of how things are shared between devices via air drop or bluetooth, the next internet will be an interlocking weaving of devices. Simply put, if you watch a video, your device will in-turn stream that video for two other devices. In this system value will be earned by allowing your computing power to be shared.

Not a Handout

A universal income is soon upon us and it will NOT require a redistribution of wealth. Value will be accessible to nearly every human as coins can be earned by controlling your information, using a toilet or generating renewable energy, performing healthy activities [including getting proper sleep], contributing to social media, gaming or even just keeping your phone on while you sleep.

Greg Kerr Medium member since Jan 2018 Pentagon analyst turned African green energy builder and blockchain advocate. http://igamma.io; http://soliberia.com