Global Basic Income

A regular paycheck for everyone on the internet.

The following idea is being offered freely and can be used in the formation of a number of possible tech startups. It can be added to existing technology systems. As you read this idea it will be of value to ask yourself "What's missing?" rather than saying this won't work. It's evident that this won't work because this is an incomplete idea and can't work as it's provided. This page exists to inspire people to think differently about currency, wealth, and the structures that connect us.

The Idea: It should be possible to combine a cryptocurrency and a social media platform together in a way to generate consistent, stable levels of income for people on the internet, at scale. If your goal is to evenly distribute income to as many people as possible in order to mitigate economic inequality, there are two problems to solve: What is the most effective design for the system to appropriately distribute income to individuals, and what is the most effective way to get people to participate in this system. These answers aren't found on this page.

There seem to be a number of possible ways to achieve this. Some projects have already tried. Some are in development. This page is not about suggesting these ideas. This page explains an idea that can be at the core of those ideas in a way that may improve those other ideas, or our world.

1. Get a social media platform

In order to create a global basic income we need to create an environment where individuals are able to connect with one another online in a way that can be viewed as transactional. Social media platforms are the best technology we’ve created for this purpose. The transactions aren't financial though, they're based on internal systems present in the social media platform, like "likes" or "upvotes".

Bonus points if you create a new social media platform that solves problems on the existing ones, such as the negative consequences of monetization and ad systems, the causes of social conflict, or privacy concerns.

2. Get a cryptocurrency

Cryptocurrencies allow us to create something that can behave like money, but operates differently. Most importantly we can control and understand how they operate. It’s possible to create an economic system around a cryptocurrency. This system can be designed to achieve specific goals, or around a specific focus or intent.

In generating a cryptocurrency it's possible to create income in innovative and well designed ways. Maximum income for a period can be set, with the surplus going out to others. The act of paying someone could result in both people getting paid the amount of the transaction. When multiple people pay someone the amount of income they make could be increased additionally. There is a lot of room for innovation in the internal processes of a digital economic system.

Bonus points if your cryptocurrency is designed in a way to mitigate or offset the imbalances resulting from other economic systems, such as income inequality, or if it can incentivize healthy behaviour in a healthy way.

3. Combine them together in a way that people will like, want, and support

These two elements can be added to any system that connects individuals in a way that has the potential of creating a basic income, to wildly varying degrees of potential success. This may not be able to sustain a startup, but it may add extra value to its product. This idea can also be developped by a not-for-profit corporation, or by a government.

Bonus points if you make it so that your economic system can easily connect with other ones in meaningful ways. Bonus points if you find a way to get everyone to agree to using the same system. Bonus points if you make it free to use. Bonus points if you build it around infrastructure that can support people in their use of it.

In conclusion:

This idea is one of the first principles of a project that has been abandoned. This idea can be added to a bunch of different types of projects.

Think about how we assign value to things, and what we do with our time, so you can find a way to make the world a better place. We all make the world a better place.