r/Bitcoin - Bernard Lietaer: Money diversity - An ...

Circles UBI is now Live!

Circles UBI is now live! Congrats to Martin Köppelmann@koeppelmann and the rest of the team after 7 years of visioning and hard work! Here are details from Martin's Twitter announcement:
Circles is an innovative UBI that can be seen as six things:
1) A voluntary basic income scheme without the need of a state
2) Fully decentralized money but fair in time and space
3) A mutual credit system where credit lines are set by default to make credit fungible
4) A p2p form of money to make money and thus ultimately the economy more human centric
5) Crypto currency that is minted only by human life time
6) The original Ripple idea combined with UBI
The core rules are simple: 1) Anyone can create an account and start minting their personal Circles. Every account (person) mints different Circles. 2) Minting starts at 8 Circles a day today. This is increased every year by 7%
3) People can trust each other - which means that they are willing to exchange their Circles 1:1
That's basically it. I will try to explain the reasoning behind all 3 from the perspective of "fair money" (again there are other ways as well to look at Circles).
The first rule is simple: Soon after Bitcoin made people see that money outside of a state is possible and that the potentially design space for money is quite large people came up with ideas: "like Bitcoin but coins are distributed equally per person".
The second rule - specifically the 7% increase per year makes sure that newly minted currency also matters in the future compared to already existing currency. (Read here how ~7% can be logically derived from a 80 year live expectancy) vit.free.fTRM/en_US/solu…
The third rule does 2 things: a) it is a fully decentralized solution to the sybil attack problem. Almost all other UBI blockchain solutions fall back to a centralized authority that decides who is human/ who can get a UBI. b) It anchors the value (the trust) of Circles...
...in human relationships. Money is in my opinion best defined (e.g. by Bernard Lietaer) as a "social contract". Circles makes that explicit and very local. The minimal viable "economy" of Circles is just a group of 3-4 friends that decides to grant each other a UBI via Circles.
Anyhow - you can read more here: joincircles.net medium.com/@ConsenSys/bas… Or a bit more technical stuff here: handbook.joincircles.net/about/whitepap…📷 Fair Money for All: Basic Income on the BlockchainFor most people money is something that just exists. In order to receive money, someone needs to be willing to spend this money on you…https://medium.com/@ConsenSys/basic-income-on-the-blockchain-fair-money-45662889077c
Here you can see the Circles p2p network growing: dashboard.circles.garden (that is Martin in the network)
Circles servers are getting overwhelmed by all of the interest, so be patient in getting signed up. http://circles.garden
submitted by CryptoUBI to CryptoUBI [link] [comments]

INTRODUCING UNIVERSAL BASIC INCOME

WHITE PAPER
INTRODUCING UNIVERSAL BASIC INCOME
Ljubomir Stankov,
Dr. Mariana Todorova

Executive summary
We suggest a social financial system where inflation is transformed into basic income using blockchain technology. We believe that the universal basic income is inevitable because of the growing optimization, robotization and automation in almost every sector of our society, which probably will lead to disappearing of numerous jobs. The programmable nature of blockchain technology enables the introduction of a fair way to create a basic income. The idea is to issue a blockchain-based token (cryptocurrency) – named by us ‘Bincome’ (from basic income) –that is programmed with a negative interest in currency board with a fiat currency 1:1(or Bitcoin). The fairness is in the financing of the basic income, which will come not from the social/societal consumption, but from the storage of means/value.

The idea is based on several inspirations:
https://en.wikipedia.org/wiki/W%C3%B6rgl#The\Wörgl_Experiment)
http://www.lietaer.com/2010/03/the-worgl-experiment/
https://www.wir.ch/
https://en.wikipedia.org/wiki/WIR\Bank)
Our idea is a blend of the above listed components. Intellectual property law allows the introduction of the proposed technology. It will be open source and everyone willing to collaborate is welcome.

Issues and needs addressed
The project will satisfy the need to fund the universal basic income in an alternative, up-to-date way/fashion. We will use a digital triple entry accounting system simulating inflation through a negative interest rate algorithm and distribute daily basic income to consumers/users. The system will work on a currency board with the fiat money, thus making money continuously secured and circulating in the economy. The “Bincomes” will not be subject to cash withdrawal. Each consume user will receive basic income daily, and if they do not spend it, they will not receive a new transaction the next day.
Why do we think it will work? The Wörgl’s experiment provides sufficient proof that this system works. Although there was no notion of basic income back at that time, the principle was the same. Currently, there is also an acting bank in Switzerland that has been working on the Gesell model for the last 80 years. The existence of WIR bank shows that our theory is implementable and that our social monetary system can be put in force. The universal basic income can give freedom to people to be full-fledged individuals.

Innovation in the idea
The main innovation is to digitize inflation and utilize it to fund basic income in an automated way on daily basis. The aim is to transform inflation into basic income. This innovation will allow the social functions of the state to be transferred directly into the financial system. The current financial system has been existing for quite a long time. However, what we are trying to do is to introduce it in an entirely new pattern. The idea is to upgrade it to the point of digitalization and opportunities for introduction of a tax for the storage of the value of the money. That new tax might seem as inflation, work as inflation but this money will be at our disposal at any time as they will be floating into the system.

Step by step the idea will be implemented in the following way:
  1. White paper for the Bincome proposition.
  2. Consultations with cryptographers and software experts
  3. Pricing of the product - the financing needed for the blockchain developers
  4. Search for investors
  5. Developing/prototyping the entire system
  6. Legal consultations on the legal framework for launching Bincome money
  7. Experiment - system test

Delivery Plan
Technical development and prototype.
We already have a white paper and we are ready to kick-off developing the project. We need to have an institutional support to start the experiment. By the end of 2018 we assume that we will have the software to run the experiment.

Detailed story of the idea
Creating digital currency with built-in negative interest (inflation) that is distributed among all users in the form of daily basic income. Money will be secured with a currency board and will be "uploaded" to a digital public accounting ledger - blockchain. This system will work in parallel with the fiat currency by contributing to the social functions of separate state/s.
The idea embodies a multitude of advantages. The first and most important one is that it is directed at the level of the individual. The problem that Bincome technology aims to address is related to the basic needs of each citizen, making sure that all these needs are covered.
The next issue that Bincome concerns is the assumption of labor market disintegration in the foreseeable future in Europe and worldwide. The suggested solutions aim to increase the potential of the individuals and to tackle the expected changes in the labor and social structures of our age.
Such a decision would also lead to a number of other secondary benefits. Taking into account the current status quo, we claim that the digitalization of economy is one of the most appropriate and adequate financial measurements.
Another advantage of Bincome is the potential reduction of the risks associated with low-profile domestic crime. Apart from contributing to human equality and reducing certain potential risks, the other specific problem that Bincome aims to solve is the mechanism of how basic income can be funded.
Bincome suggests that this should happen by introducing a blockchain based on a monetary/financial system that functions in a currency board with the existing currency systems. A small percentage of the total money volume of a certain economy is needed. In this digital system, we propose to set a negative interest rate algorithm based on Silvio Gesell's model. It considers the daily negative interest as funding back the accounts of all users in the system. The whole system will work on a blockchain upon an existing network. Bincome will circulate without removing the functions of the central banks. Each Bincome will be pegged 1: 1 with the official currency issued by the central bank. The creation of a new Bincome will therefore be associated with an initial available fund of state issued currency. The creation of a new Bincome will be possible through a private initiative or through the state.
In the first case, private interest may want to use the Bincome network. In this hypothesis, the amount it feeds into the network represents a counter number of Bincomes. In the next hypothesis, a state takes action to decentralize its social functions using Bincome technology. The analogy is the same, as the amount that enters is pegged.
The Bincome Network will work distributing every day basic income just as much as it takes from the negative interest rate of Bincomes in circulation.

The formula for calculating the cash volume in the basic income system is as follows:
(100/daily negative interest rate) × daily basic income × population = money in the system
By integrating a parallel digital monetary system, we address another major problem - introducing basic income without disturbing the business climate in a working economy. The negative interest rate will be extracted mainly from the businesses as they are representing pools of capital. But businesses will not lose, because the percentage of the negative rate will go directly in benefit to all participants in the Bincome network. In that way business funds itself, as customers will be able to come back the next day. This network can work mainly for fast exchanging businesses and it is not applicable for slow tradable goods.

Contact details:
Lyubomir Stankov / Bincome (owner of the project),
Member of the Bulgarian Bitcoin Association; Member of Mensa
email: [[email protected]](mailto:[email protected]), tel. +359877865518
address: Bulgaria, Sofia, Illinden bl. 114, entr. B, fl. 3 ap.37

Dr. Mariana Todorova, Bulgarian Academy of Sciences (R&D),
Chair of The Millennium Project Node in Bulgaria
email: [mariana_g_[email protected]](mailto:[email protected]), tel.:+359 886698929
address: Bulgaria, Sofia, 1618
9 Ljublina Str., fl.3, ap.5

Mois Natan, (blockchain consultant)
email:[email protected]​ , tel.: +359 876766115
address: Bulgaria, Sofia1202
32 Maria Luisa Blvd. ​

Link:
https://docs.google.com/document/d/1v0EsQTbHsOErPXnzKqYdTvd96Yy0vLiwOSzeBlGrvNQ/edit?usp=sharing
submitted by AlximikA to BasicIncome [link] [comments]

Bitcoin, How to invest and make money with bitcoin Bernard Lietaer - Best Summary on Bancor Protocol (Blockchain) vs. the false-flag Bitcoin What is money? The Future of Money with Thomas Greco ... Prof. Bernard Lietaer On Bitcoin Professor Bernard Lietaer:

r/Bitcoin: A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money … Press J to jump to the feed. Press question mark to learn the rest of the keyboard shortcuts. r/Bitcoin. log in sign up. User account menu. 18. Bernard Lietaer: Money diversity - An interesting talk about the importance of democratic money. Close. 18 ... I am deeply saddened by the loss of my dear friend and mentor Bernard Lietaer, who died Monday morning at his home in Hoherhagen, Germany with loved ones. I had the great honor of getting to know Bernard in recent years as he served as President of the Bprotocol Foundation and its Chief Monetary Officer. Bernard was a financial justice warrior; a fierce advocate, sharp businessman and revered ... Bernard Lietaer has taken up this idea again with his proposal of the global “Terra” ... Today, bitcoin is used as a store of value and is compared to “digital gold” because of the limitation on the creation of bitcoin. To the extent that this form of currency serves only to increase inequality and dependence on power structures, a purely technology-oriented debate leads to a dead end ... The value of Bitcoin, which peaked in November of 2013 at $1242, has dropped from $847 in January of 2014 to all of $201 today. Heck, it dropped 32% in two days this week! Bitcoin has since bounced, up 19% to $210 yesterday. Bit Coin Review. UBS CIO: Blockchain Technology Can Massively Simplify Banking. Why Bitcoin advocates might like New York’s new proposed rules for virtual currency. One ... Bitcoin is a system for securely storing and transferring value. Without limits, delays, high fees or borders. Anyone can use it, no documents to sign. You can make a transfer or receive one any time, anywhere and from/to anywhere in the world. Location makes no difference, as long as you have internet connection.

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Bitcoin, How to invest and make money with bitcoin

Author of ‘Way of the Wolf’ Jordan Belfort weighs in on the value of digital currency Bitcoin and discusses why it may collapse soon. Bernard Lietard on bitcoin. All economic textbooks define money as standard of value, medium of exchange, store of value. This is not what money is, this is what money does, these are the functions of money. My working ... Recording date: 23. April 2014 Location: School of Business and Economics, Maastricht University Speaker: Prof. Bernard Lietaer Title: In conversation What i... Bernard Lietaer is an expert on monetary systems. He has been Professor of International Finance at the University of Louvain in Belgium, financial advisor to several Latin American governments ...

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