Welcome to another installment of Liberal Agenda, where we’re going to explore potential alternatives to current political or economic systems, and hopefully get a conversation started. This week’s topic is:
Universal Basic Income & Blockchain Technology
This isn't the first time I've covered the topic of UBI, in fact this will be my third, and that's because it's an issue I feel rather strongly about. Today I'd like to briefly go over what UBI is, how it works and then discuss two shining examples of UBI being put into action using blockchain technology. Let's go!
What is Universal Basic Income?
Universal Basic Income (UBI) is the idea that all citizens get an unconditional fixed income from the state, given independently of any other income, even if a person is employed. There are two different types of UBI; full or partial. Full basic income is sufficient to meet a person’s basic needs (at or above the poverty line), while partial is less than that amount.
Essentially, it's a way of dramatically cutting costs and government waste, while also providing a bare minimum for everyone to live on. Under most proposals, it's suggested that all other forms of welfare would be completely replaced by UBI, including unemployment benefits, state pensions, child support and so on. This replacement of a costly, complicated and flawed system would better allow societies to afford to give their citizens a baseline to their income.
As for why we need UBI introduced, it's often argued (by myself as well) that it is largely as a result of the rise of AI and robotics in the workplace. However, today I'd like to make a slightly different argument for UBI; our wellbeing.
Tackling the Problems of Modern Society
I feel it's fair to say that the majority of people who'll read this are already somewhat dismayed with the government, the education system and/or this modern idea of society that we've created fairly recently. We are born, we enter the education system, we exit it varying points and then if we're lucky we enter the workforce. Some find their way into the criminal system, but really we're all prisoners of this giant machine that is Human Society.
For most, when we work we don't get to see the outcomes or results of that work. Job roles are compartmentalised, with each person performing one specific task along the conveyor belt. Whether we're manufacturing pins or pushing papers in an office, we are but a cog in a machine.
This way of being doesn't give us the satisfaction we both need and want, so we fill the void with the consumables. The bigger and better cars, the bigger and grander houses and so on. Constantly upgrading and seeking out more, but the void remains a void. If we truly had the freedom to choose what we do with our time, we'd be able to pursue the things that we're passionate about. Some people want to be out in the woods, some want to expand their knowledge and some want to be creative. We're all unique individuals, and to force us all into the same mold during the education process can break people.
There's an argument often made, and for good reason, and that was best put to me by the amazing 
"I think it is our nature to want to be useful in some way. While I like the idea of a universal income I do think many would struggle with this new identity and wonder how they fit within it." -
If a system like UBI was introduced, initially there would no doubt be some people who felt displaced and maybe useless. However, something has to change at some point so in a way that's inevitable, so I'd propose we prepare for that by completely reworking western education systems. Introduce support programmes to work with people and find out what they are passionate about.
Some people have argued that it would create a society of lazy, couch potatoes who do nothing. I just don't think it's in our nature generally speaking. There are already those who will do anything and anything to avoid working, maybe even gaming or straight out defrauding the system to avoid work. That would no longer be possible, plus as I've already said, some people just don't fit in with our current society and feel that they are forced to the fringe, feeling like they don't fit in.
Another point I'd like to (try and) make is that we build bigger and more efficient machines to ease our work, and there really is no need for the average person to be working a 40 hour week. Speaking from my own experiences and from what I've gathered from conversations with others, no-one works 100% all the time. There is just an awful lot of waste in the workplace, and I can't think of anything bleaker than whiling away our short time on this planet clock watching and "living for the weekend". Maybe it's just me, but I would so much rather work hard for four hours a day and have more time to pursue what I'm passionate about. I think we all deserve that freedom really.
There's also the argument of cost, and with a grand endeavour like providing every single citizen with a baseline of income, it's not going to be cheap. I've already highlighted that by replacing the existing costly welfare systems we'd save money, but likely nowhere near enough to cover the cost. The exact cost would depend on how much was paid to each citizen, with some experts saying that it would be completely unaffordable without income taxes of roughly 50%. That may be if we're aiming to pay everyone the equivalent of a minimum wage job, however factoring in the other issues at work here, it would make sense to start off with a much lower figure for each person.
There is a proposed negative income tax which, much like UBI, guarantees all citizens of working age a certain amount of regular income, where the amount received is dependent on that person’s income from other sources such as employment. Immediately, we can see that this involves some kind of ability to figure out who gets what, plus there's the possibility of people attempting to defraud the system.
The one argument that I don't see being made often enough, is that UBI would fail to address poverty on a global scale. In each "first world" country, we could implement such a system, however what about the citizens of countries with completely corrupt governments and authorities? This could then lean further into arguments of immigration, potentially creating a very negative perception amongst populaces regarding UBI.
UBI & Blockchain Technology
So, how does the blockchain fit into this? Well, we already have at least two attempts at creating a UBI for the people upon blockchain technologies; Manna and SwiftDemand. Both projects are still very much in their infancy, but they have both been running for some time now and are further developing their technology.
Manna, or as it was formerly known Grantcoin, is the first successful attempt at creating a blockchain-based UBI. Manna is very much an experiment, using a tokenized model to distribute amongst those who sign up. SwiftDemand is very much the same, distributing tokens to it's users but at present the amount given out is essentially worthless. Exactly how you get sustainable levels of funding get into the system is a bit of a mystery at present, but viewed as an experiment or Proof of Concept, then both of these projects have achieved their goal of proving that it is workable.
Decentralisation is important, and both of these projects show that we can use this new blockchain technology to radically change the world. It's more than just bitcoin and speculation, it can potentially alter the course of human history. As for exactly how we fund these types of projects, well there are government funded think tanks, agencies and ministers who are paid far more than me to figure that out. Could we have a truly global, trustless and democratic method of distributing funds to citizens without the need for a government to implement it? Would our current governments allow for such a system? There are still many questions to be asked, but I believe it's time we start looking into these things.
If you would like to read more or sign up to these exciting blockchain experiments, I'll leave my referral links below this paragraph. The more people that sign up, the more support for these promising projects.
Mannabase Referral Link
SwiftDemand Referral Link
There's no doubt in my mind that a economic crash comparable, if not greater than, the 2008 credit crisis will be with us in the next 18-24 months. Debt, both personal and governmental, is spiralling out of control and everyone seems to be keeping their heads firmly buried in the sand. Now is the time to start talking about these things, because the current western way of life is unsustainable and damaging to the individual.
What are your thoughts on UBI? What do you think about Manna and SwiftDemand? Let me know what you think about all of this down in the comments, and I'll see you there. As always, make sure to follow me for the latest Technology, Internet and Pop Culture updates. Until we meet again friends, take care of each other!
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Sources:
Bustling with work and activity, "The Wealth of the Nation" by Seymour Fogel (