EMPOWERING PEOPLE AND THEIR COMMUNITIES
The Bancor protocol has the potential to change the life of a lot of ordinary people and their communities around the world. We, the team behind the UBIcoin.network, located in Tel Aviv, Berlin and Perth are very inspired to build an implementation on this protocol of our token-concept for the activation of Universal Basic Income. At last technology enables communities to use a decentralised money system, without banks, and create wealth for the whole group. Communities can be in the driver’s seat!
Professor Bernard Lietaer, is an ex-central banker that co-designed ECU.
Bernard was the currency trader of the most successful of all offshore investment funds in 1990 and he is the author of a dozen books on money systems. When he read for the 1st time the BancorProtocol he thought to himself:
“is this one of those too good to be true ideas?” But after he read it for the 3rd time he said: “Bancor is a paradigm shift!”
It provides a technological solution to the Double Coincidence of Wants problem in currencies and any value exchange. Bancor enables constant liquidity for all communities and businesses regardless of their size. Bancor is a breakthrough in economics that can lead to dramatic reduction of poverty!
With the UBIcoin built on the Bancor protocol it will no longer be necessary to engage deep development expertise for creating cryptocurrencies and to devise business strategies for growing beyond illiquidity. For the first time ever, communities can easily create their own smart tokens and can choose to integrate a strategy for issuing basic income to their members within a few clicks. A community’s smart token will be instantly tradable against other smart tokens and cryptocurrencies and therefore increase liquidity.
“Wow, this is revolutionary!”
First we want to give you some understanding of blockchain and smart contracts.
“Blockchains are distributed ledgers, i.e. a list of transactions that is replicated across a number of computers, rather than being stored on a central server. Blockchains have mechanisms to make it hard to change historical records.”
https://bitsonblocks.net/2015/09/09/a-gentle-introduction-to-blockchain-technology/
“Smart contracts — in the world of blockchains — are little programs that execute ‘if this happens then do that’, run and verified by many computers to ensure trustworthiness. If blockchains give us distributed trustworthy storage, then smart contracts give us distributed trustworthy calculations”.
https://bitsonblocks.net/2016/02/01/a-gentle-introduction-to-smart-contracts/
Quoting Antony Lewis, as per 10t h April 2017. Quotes under CC-BY-SA licence
And then we want to add the research of decades into basic income all around the world. Rutger Bregman explains it well: https://www.ted.com/talks/rutger_bregman_poverty_isn_t_a_lack_of_character_it_s_a_lack_of_cash
“Poverty isn’t a lack of character, it’s a lack of cash!”
Inspired by the Bancor Protocol, the UBIcoin presents a tool for issuing and distributing smart tokens with the view to empower people and their communities. Local currencies are not new. Many existing local currencies have been creating real value for their users, but often their trade volume is too small to achieve liquidity. Bancor Protocol makes it possible to achieve liquidity regardless of the size of token. So creating a basic income that is tradable becomes possible. It will definitely empower people and their communities.
read more at https://medium.com/@annablume/universalbasic-income-ubi-coin-15ec91abcada