“#Blockchain, #Tokens and Universal #Mining as way to create Basic Income Guarantees in the Information Age” I’m gonna cut to the chase without giving you a basic understanding of what Blockchain is... Using Blockchain as a local or global economic platform would allow any and everyone to actively participate in research and development, decision-making and product/service testing in a trackable way that earns them tokens (convertible to coin) or use their tokens (earned by resume, proof of work, education and reputation) to be chosen in specific data or computational work (creating Intellectual Property) which becomes Smart Assets (token) tradable within the system to build coin value. So in the new economy, the mere participation in the Blockchain, makes you a part of both the supply, demand and thus the value chain and creates a #BasicIncomeGuarantee (hereinafter “BIG”) within the system, to then be exchanged for goods and services. Another way of looking at it is Universal Shares in Distributed Autonomous Organizations (#DAO’s in Blockchain parlance). These shares having very little initial value, gain their value from increases in participation, trade and exchange or simply general economic growth! They key to this system working is the elimination of middlemen that create economic friction by introducing administrative or regulatory costs, interest or knowledge disparity, all of which costs combined has more than enough value that can be redistributed across the Universal Shares or “BIG” to all participants in the system. This elimination of #EconomicFriction is accomplished mostly through the system itself. Blockchain is #TrustFree which means ledgers, value and identity is open and validated by everyone...which means no need for regulators and their many agencies. Blockchain is digital, which means paperless. This frees up resources and cuts processing time down by orders of magnitude. Blockchain is Distributed, which means there’s no centralized authority or repository of resources or value. This means you could potentially eliminate banking costs (interest and fees), as well as authentication costs. All these cost savings EASILY create a value (at AND Direct LLC)
