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BasicIncomeCoin is part of a series of experiments intended to find workarounds for the problem for decentralized crypto currency based basic income allocation. The general thinking at the moment is to use to index the funds allocated by, as a way of weighting votes cast using, that favour particular distributions of payouts to basicincomecoin wallet holders. It’s a mouthful but the problem seems to require multiple interacting mechanisms to establish unique identities for basicincomecoin recipients.

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“[the cryptocurrency]called G1 (pronounced “June”) and can be downloaded/explored further here:

In order to “create” or open an account which is entitled to receive a daily UD, the person needs to be “certified” as being a “real” person by at least 5 existing members, via a physical “in person” meeting (the technology relies on the open source “web of trust” system). This certificate needs to be renewed every 2 years so if that person cheats and opens several accounts in order to get more UD, there is always a risk that his accounts will not be renewed if he/she cheats and is discovered.”


Are indefinite student loans sort of like UBI?