Basic Income

What Basic Income means to me is providing the basic level of every person's well-being from housing to clothing to food. One inspiration for this idea comes from the planet. The Earth has been providing basic food and shelter with no expectation of return for millions of years. Hunting and gathering took work, yes, but it had no gatekeeper and a very low barrier to entry - it was open to almost everyone on their terms, their time, their place. As society becomes more industrialized and centralized, even gathering is moved out of reach of the urban human. Basic income restores these services that humanity has been enjoying until only recently. Modern society is the future of human life and this aspect much change.

Through Bitcoin

Bitcoin, and blockchains in general, open the door to reliably represent financial value around the globe. As 'smart contracts' evolve, complex features like basic income will be available in a very transparent and reliable mechanism. It may be possible to implement the same functionality today using a trusted partner.

From Where

Where the money comes from is basically a voluntary fee. With the right merits, the system will be compelling to those who are interested in giving to support the right people. Who the right people are is discussed next.

To Where

Inspired by the ideas at basicincome.co, the people who benefit from any contributions are those who are financially close to the contributor. In the spirit of a social graph is a financial graph. By interacting with anyone on the blockchain, one can do a depth-search from a starting address to grow a graph of addresses considered financially relevant.

No Third Party

Discovering the graph, and unforseen features to manage the graph, will take a trusted 3rd party, which is a huge detriment to the system. I expect that sometime soon a) the details of how graph inclusion and exclusion work and b) an implementation existing purely in the bitcoin blockchain or other blockchain will emerge. This I call Cryptoversal Income.