The radical idea of handing cash to citizens regardless of whether they work has taken root in Europe. Now America’s tech elite is backing the concept – but why?
Basic income, therefore, is often seen as the Trojan horse that would allow tech companies to position themselves as progressive, even caring – the good cop to Wall Street’s bad cop – while eliminating the hurdles that stand in the way of further expansion. Goodbye to all those cumbersome institutions of the welfare state, employment regulations that guarantee workers’ rights or subversive attempts to question the status quo with regards to the ownership of data or the infrastructure that produces it.
The French whistleblower and Spanish anti-corruption activists who triggered an investigation of a former International Monetary Fund chief announced Thursday they are designing a digital payment system aimed at excluding middlemen companies that make money from online purchases. Herve Falciani and the Xnet group say their nonprofit, peer-to-peer payment system would work like PayPal on a local basis within European cities for citizen payments to participating businesses and governments.
Basic income is having a moment. First Finland announced it would launch an ambitious experiment to see if it would work to give everyone in a given area is given a set amount of cash every year from the government, no strings attached. Now the Silicon Valley seed investment firm Y Combinator has announced it wants to fund a basic income experiment in the US.1
The idea behind our “social” currency concept is simple; the banks have had a very long-standing monopoly on creating and managing our money, and they have abused this unprecedented power in order to take everyone’s wealth — and give virtually nothing but grief and misery in return… Thanks to new technologies we no longer need the banks to create our money, and so CrowdBucks was created to show people how they create their own value-backed currencies, plus we provide a flexible marketplace platform for people to conduct trade without using expensive bank-issued money, etc.