Topic: Georgist Cryptocurrency – Global Crypto-Taxation (Read 448 times)

I recently started a thread about a socialist cryptocurrency; the idea was that people would use a DNA reader to register their unique signature with a blockchain. They would receive a wallet with a one-off payment of a set number of coins; everyone in the world would receive an equal payment. Although I began by pushing it as a form of striking or revolution, I eventually came to the conclusion that it simply could not be pushed upon the wealthy nations that would take the brunt of the economic hit. They would refuse to use it.

It could however be a unique form of charity: completely decentralised wealth redistribution. It would be an effective way to reduce inequality and industrialise the developing world in that people would be able to decide what things they needed at the local level. Nassim Taleb’s writings on decentralisation and organic development influenced the concept.

Since then I’ve been thinking about other cryptocurrencies utilizing a similar model. One idea I had was a Georgist cryptocurrency. Georgism states that people own the things they make but not natural resources such as land; as such a fairer economic system could be created by having a single land value tax.

An interesting way to execute this Georgist system would be for everyone to receive a unique wallet by registering their DNA. Every piece of land is designated its own wallet into which taxes are deposited. After a given time period the money in these wallets is redistributed equally among all the unique DNA wallets. Social services such as education, healthcare and security could be privatised and people could pay for the level of service they can afford using the land-tax they receive in their wallet and whatever money they earn from working. This would reduce the need for a centralised government and perhaps even a nation state. There would be little conflict between different groups because all natural resources would be shared equally; perhaps national borders could be dropped. Municipalities would have to estimate the value of natural resources in their designated zone; absolute transparency would be needed in order to prevent corruption. Aside from these municipalities there would be little need for central government.