I’ll try a response to this topic once again. I got shot down hard last time but it is simply too important of a topic to leave to the central authorities.
We can debate whether a basic income is needed or not but I’d rather discuss a possible implementation if I could. The rapid approach of technological unemployment from automation costs dipping below human labor is a provable justification to all who care and follow logic but the implementation can’t seem to get air time anywhere. I believe there to be a method which satisfies all parties while doing more good than any other program humanity has produced.
In the current fiat money system, the game is rigged so hard as to hide all the big scams in plain sight. Most people don’t comprehend inflation of the money supply, debt-based money creation or the shift to rent-seeking as a way of making money simply by having it. All these lead to the rich getting richer just because they’re rich. The result is accelerating inequality with no checks and balances left against it. In a world where abundance is near, support for the old scarcity game only prolongs the transition and makes it brutal. A single change in any crypto-currency could completely turn this around but in doing so, it would hyper-promote that currency and I feel only a ‘good’ one should receive such support. This is why I only promote this on either Bitcoin or Safecoin, because I believe in them (for different reasons).
By adding an autonomous transaction fee of 1% to all transactions and sending to a dividend fund, that fund could be dispersed to every validated human equally each day. All parts of this process would be automatic with no human control over it. This is a new digital form of basic income which solves all of the social problems that government proposals will fail at. It is truly universal, meaning it crosses age and geographical borders equally. By being market driven (no guarantee of how much moves each day), it starts tiny and grows only as the membership grows. Initially, just a few cent’s worth per day per person would help the most poor in the world a lot. But as they signed up and began spending, daily transaction volume would rise, boosting the fund and the dividend. This makes it attractive to groups a little more wealthy (say 10 cent’s worth/day/person). As even more are enticed to join for this ‘free money’, more commerce is attracted to sell thingies to those people and it grows even more, attracting significantly more investment from the fiat side into Safecoin businesses. In short, it helps the poorest of the world and grows to help ever-higher wealth people in a self supporting way.
As such, it will enhance the membership of the entire MaidSafe network which I believe to be a bigger benefit to society. (Don’t have to tell this group, I would guess.)
But here’s the cool parts. In attempting to validate that there’s only one account qualifying for each human, I’ve come up with a way to do that while helping global health advancement in a still decentralized manner. We could require a DNA scanner to create the account and two more ‘accepted’ scanners to validate it. In this way, the identities of 3 different scanners is needed so faking the scanner hardware is harder (or impossible if done well??). The result would then be an unnamed unique DNA genome sitting in public which medical researchers could use to find statistical information on. Perhaps some simple demographics could be included with much caution so as to not be able to identify the person. However, metadata tags can be added by the researchers as they find that this genome carries a certain trait. However, with every re-scan by the human, they can see what tags their genome has had added to it. This is of great benefit to them but that’s off topic too far for here.
These scanners are currently $1,000 each now but with massive incentive, this could fall to $10 so each scan could become a simple cost of doing business for some. The benefit would be that taking part in creating an account would pay one tenth of a day’s dividend to the scanner for signing each of them up. This is now a large market similar to mining is today in BTC. Many people will become scan farmers which will further drive membership adoption. And by doing all this, millions of anonymous DNA genomes will be available for researchers to work with for their research.
Initially, however, the fund begins growing before scans can be done. This pot will be dispersed equally to all accounts with a $100?? limit/person/day. So those first people will basically get a full income for free and the scanners will too if they signed up at least 10 people each day. But before this can begin, there needs to be some consensus on how to standardize the conversion from DNA info to secure account ID. If this takes a month, the pot will grow for that long, having no withdrawals but if it takes 6 months, the pot will be 6 times as big. This means that after the standardization is complete and people begin creating these accounts, this initial fund bubble will last longer and longer before deflating into its normal daily size. That’s lots of $100 dividends given out before this happens so lots of people will chase this money. When it finally does, there will be many more members and much higher daily transaction volume, creating 1% of that amount as the total daily dividend pool.
Currently, in the fiat money world, there are transaction costs for just about all money moves. Some are visible and others hidden but they’re there and people pay them as simply part of doing business. This proposal would remove the ‘free’ aspect of money transactions in the crypto it is implemented in but even in Bitcoin, transaction costs are rising via market forces alone. The difference is it would effectively replace the corrupt welfare systems around the world with a 100% efficient one. Every nano-money unit would go only to the daily dividend.
Also as automation systems begin to perform bot-to-bot transactions with the IoT or even with micro-payments from content sharing, these transactions would be included as well. This means that as automation optimizes jobs out of existence, society is not left without a survival path.
By being completely inside a decentralized system (like Bitcoin, or Safecoin), it cannot be manipulated or stopped by any govenment. But by being in Safecoin, it forces those who just want the dividend to join the already useful and socially helpful MaidSafe network. And if people join and see how useful it is and see how many others use it, they will eventually use it themselves.
I can’t stress this enough though. Automation is removing jobs at a very rapid pace. Many current estimates suggest half of current jobs will be gone in 15 years but it only takes a few % more to cause social unrest. In fact, many countries are experiencing it already even if some people attribute it to other causes. But all this is not happening equally across all locations or all industries. As such, some form of welfare, increased unemployment, negative income tax, social aid will need to increase. Government versions of these and all basic income proposals by national governments, states or even small communities WILL introduce waste and corruption as people attempt to game those systems (from the top or the bottom). The only way to avoid this global chaos is to do it well and privately, before they do it the wrong way.