Imagine opening your bank account details and seeing money added every time, regardless if you had to work for it or not, for as long as you live - that's what #CirclesUBI wants to achieve - https://circles.land
can ppl verify me on #circlesUBI ? thank you 🙏
https://circles.garden/profile/0xc9306983dAe217EDD591408C2f3E4AC407F07E6c
So, there is some fuzz over at cryptoleftists about #CirclesUBI. ( https://joincircles.net/ )
The TL;DR is as follows:
It is implemented on top of another cryptocurrency with smart contracts. (Not really familiar with this, taking it as a cons.)
Uses a WoT for both issuance (must be verified by three existing members to join like #duniter) and settlement (payment can only be done by chaining trust, like #Ripplepay / #Rumble http://ripple.ryanfugger.com/ )
Seems to be a good starting point against sybil/fake ids attacks.
Since credit is limited by trust, there is an incentive to balance income and expenditure like a credit-based #LETS / #LocalExchangeTradingSystem plus the UBI means it could be non-deflationary and incentivize usage rather than savings as in facilitate economic transactions while being an #universaldividend token.
Thoughts?
#CirclesUBI #duniter #ripplepay #rumble #lets #LocalExchangeTradingSystem #universaldividend