Poverty basically makes it impossible for people to live. What if we had money that is timebased and tied to a persons biometric (absolutely protected from prying eyes). In the old set up you need currency to make currency, what if your life is money?
Let’s go into a imaginary world where this idea could work.
What if in januari 2015 Safecoin launched and everybody with a device like Nymi/Emotiv receives money.
Every 10 minutes you receive 0,10 Safecoins, without having to do anything in return (basically your participating in the Maidsafe system, so that should be worthy of Safecoins) annually you would receive 5256 Safecoins.
This coin would only be based on fairness, but the problem is, not everybody would even have money to buy these devices. So how would these people even come close to receiving their Safecoins? Let’s say that in this imaginary world it’s now januari 2020 and we now got an opensourced Nymi device with some extra’s. The way how to distribute money to the poor would be, by letting them first call to the device, after that they wear it and they transfer their fund to their feature phone (Only the wearer can transfer his/her personal funds). If somebody would for the very first time receive their funds in januari 2020, that means that they now have 26280 Safecoins.
The feature phone solution is still not perfect, ideally you want everybody to have a device, because this way you can even prevent theft. If you stole somebody else his/her device you could only spend your funds. Devices like Nymi even got the safety mechanism that they simply don’t work when someone is in disstress. I realise that when you tie money to people, that you could loose funds, when people past away. Maybe in 2030 we could have the money automatically transfered to relatives, when they enter a link to an official obituary transaction. Heck maybe even before 2030.
Now that I think about it, maybe everybody doesn’t need to have a device. I could be broke as a joke and go into a store to get some groceries and the cashier would just hand me over an device to make the transfer. So actually only the people selling stuff would need a device. A transaction could be as simple as you wearing the device and typing how much you want to receive, after that I wear it and check if I agree, if I do, I send you the money. In a company you would just have a tree structure of employee receive funds that direct goes to the companies root account.
Are there more rich people or are there more poor people? If you know the answer to that, then make a solution that caters the mayority group, because they will add more value to your money solution. With a timebased currency, tied to a person, you can offer so much more improvements, to people’s lives and to be honest, this should be doable. If we can send man to the moon, it would be idiotic not to embrace/create a currency which bring everybody to an equal playing field. If your time on earth is important, you can only spend that much.
What if our currency was timebased and every person had a limit of 100 years on their account and everything above it goes to science/development of the community.