Credit Unions

Educate Banks and Credit Unions About Privatized Universal Basic Income

Basic income advocates should educate banks and credit unions about he possibility of privatized universal basic incomes. Universal basic income can potentially help to alleviate poverty on Earth, and maybe even to completely eliminate poverty on Earth.

If you search on the internet cryptocurrency exchanges that are also banks, to my knowledge, a variety of results will be shown. I have studied basic income cryptocurrencies for several years now. With respect to crypto UBI (cryptocurrency universal basic income), my thinking on this may change further. However, at this time I believe that the most likely way for universal basic income to be implemented globally would likely be for banks, credit unions and or cryptocurrency exchanges to sort of implement what could be called privatized universal basic income using cryptocurrencies.

So my suggestion is that basic income advocates educate banks, cryptocurrency exchanges, and credit unions and educate those that work for those organizations about the potential for privatized universal basic income. Unfortunately, I am not super optimistic about national governments implementing universal based income anytime soon.

Unfortunately, with current crypto UBI projects one of the largest problems is sybil issues. Sybil problems are represented by the idea of dissociative identity disorder (a.k.a. multiple personality disorder). The issue that crypto UBI projects encounter is figuring out a way to not have one unique human claim the basic income. more than once. Banks and credit unions and crypto exchanges already sort of have a built in solution for this, for better or for worse. This is because of know your customer (KYC) laws, and the way that traditional banks and credit unions operate. So basic income advocates could spend time and energy trying to educate those at banks and credit union and cryptocurrency exchange about the potential for them to implement a privatized universal basic income. And of course, if you decide to do this, be polite, be respectful and do not break any laws.

A bank, credit union, or cryptocurrency exchange could have a sort of trust fund that donated assets are assigned to. This financial trust could grow investments, and then re-invest half the profits into more investment assets (stocks, bonds, ETF’s, precious metals, cryptocurrencies), and distribute the other half of the profits equally to all verified account holders at the bank, credit union, or cryptocurrency exchange as a universal basic income. If many banks, credit unions, and/or cryptocurrency exchanges all over Earth would do this, then this could be a way to implement a universal basic income globally, and it can also be a way for the aforementioned organizations to market themselves and attract customers. This could be a win-win idea for many stakeholders. The aforementioned organizations that implement a privatized basic income could distribute the funds using a low fee cryptocurrency (like Monero), or simply deposit the basic income into account holders financial accounts.

I might be wrong, but I really believe that right now, that banks and credit unions and cryptocurrency exchanges could be the most efficient way to see basic income implemented globally. It will be good if we can significantly reduce and/or eliminate poverty. Universal basic income and cryptocurrency basic incomes could be an efficient way to increase the amount of prosperity and abundance on Earth.