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Tuesday, January 8, 2019

Universal Basic Income Concept

Recently, I wrote about the relationship between basic universal income and cryptocurrencies. I want a revisit on the issue of universal basic income (UBI). Some idealists view this as an impossible proposition. However, my argument still stands, a decade ago people could have felt that it was not possible to connect wirelessly with each other around the globe. A few centuries ago, it was unthinkable that people would travel through the air. Possibilities keep on coming.

Universal basic income is aimed at improving the welfare of all citizens of the world. If the world now has worldly authority like the United Nations, then such initiatives are possible. Universal basic income means that every citizen will be able to get a monthly income, given for free and without any conditions. However, I feel, some conditions may be necessary. We wouldn't look forward to a billionaire to get a monthly basic income. I think it would be an issue of humanity for other people to exempt themselves.

But that aside, I have a study case of how a country is trying to implement the basic income concept. Aditya Chakraborty pointed out that Finland is carrying a pilot study of giving basic income to people in one its provinces. In this area, every person receives a monthly income, unconditionally.

Read the full story here,

I have written a detailed article on the impact of cryptocurrencies on the adoption and implementation of the universal basic income concept. You can access the article here,

The concept of cryptocurrencies is receiving a lot of attention. It has the greatest possibility of changing the face of governance, politics and social life. The emergence and use of cryptocurrencies and blockchain have been termed the fourth revolution, after the industrial and agricultural revolution. It makes sense for any person to take an interest in it

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