Topic: Circles - Unconditional Basic Income on the blockchain (Read 113 times)

First of all: This should not be a discussion about the UBI. If you are interested in the discussion about (unconditional) basic income with advantages and disadvantages, please refer to the Wikipedia homepage.

https://de.wikipedia.org/wiki/basic_income

It is all about:

https://joincircles.net/ [NO REFLINK!]

Circles first reminded me a little of Palai. However, this project is much more professional, it is REALLY a decentralized currency (Palai was no longer a cryptocurrency) and the team is also very transparent. The goal is to establish a blockchain-based cryptocurrency that has implemented a UBI.

Circles runs on the ETH blockchain.

There are two problems to be solved:

Double accounts: It must be prevented that people register several times and thus receive the distribution twice. Verification is not so easy, because anonymity is not guaranteed and corrupt countries may come up with the idea of ​​creating fake IDs. Therefore, some form of trust system is required on the network. The white paper deals with this in more detail:

https://github.com/CirclesUBI/docs/blob/master/Circles.md

The second problem is that the currency has to get a value. Here Circles is currently trying to build a supermarket in Berlin. At the regional level, a kind of Ebay is also to be created in which the cryptocurrency could be used.

The project is currently in the beta phase and it is expected to start at the end of the year at the latest.

What is your opinion about this? How would you solve the two main problems?