Heaven heaven,
The bankers could have implemented a system of basic income long ago. Wrong! Famine was much too prevalent to do this with paper and ink. Only in this age of computational super strength could we ever attempt to organize and list all of the work of humanity. This is exactly why fiat is the wrong way. Fiat is much too valuable, too strong to be used as the currency for basic income. Cryptocurrency is new and with very low value and can be built into a phone app. These two critical values make cryptocurrency the best for a currency for basic income.
In order to properly capitalize basic income, we must let the work be the backing of the currency. In the last talk, we discussed the phone app to list and do basic income. This app is powered solely by the cryptocurrency, to do anything on this app cost the cryptocurrency of the app. The app is built to get work done. The currency is for getting work done. The cryptocurrency is backed by work done to get work done.
In order to let the work back the currency, we must start with a fresh currency.
We can look at the past and see that choosing a physical currency is horrible. The ease of copying, horrible. The cost of staff to prevent copying, horrible. The risk of shipping the currency, horrible. The lies and manipulation to create a false scarcity, horrible. We can look at the present and see that choosing an electronic currency is heaven. Military grade cyrptograhpy, heaven. Less than a penny transfer fee, heaven. The staff to manage it, heaven. The truth and achievement to create plenty, Heaven. Electronic currency has very good attributes.
This new electronic currency must be able to start with a value of 0.00.
In the past, it was always pointed to taxes. "How could we capitalize a basic income within the tax system?" We see where that led, as it must. In this day and age, we can let a currency come into life with zero value. Build the value with good service over a long period of time. In this way letting the work back the currency. Instead of needing something else to capitalize the basic income, the work does it.
We end up with a currency for and by basic income. A coin that can really be used to get work done. A coin that is truly easy to earn. A coin that builds a more interlaced society. A coin that raises the poverty level to 50,000 usd per year.
As you can see cryptocurrency allows and is the best fit for basic income. When it is paired with a work app it can be backed by work and have a value of work.