Episode 135

What is Universal Basic Income?

If you have never heard of Universal Basic Income (UBI), you have come to the right place to find out. In this podcast, taskmaster4450 explains what it is, why we need it, and how to get it.

If you think that taskmaster4450 is a funny name for a person, you are right. That is his username on the social media site Steemit where I met him. Steemit pays for posting, commenting and voting in cryptocurrency.

That is one way to make an income that is different from what you might be used to. But that is not what can be understood as a Univeral Basic Income. On Steemit, you have to put effort and work into building your account and subsequently creating an income.

The idea of UBI is that beyond signing up for it, you are not required to do more – just receiving your income on a regular basis.

Why Do We Need Universal Basic Income?

You might ask yourself why we need Universal Basic Income since we can get a job and work for what we need. That certainly used to be the model and for many, that is and will be the plan.

However, technology is developing at a rapid speed and many foresee a wave of what they call technological unemployment. That means that jobs are disappearing because technology has developed that make that job obsolete.

One example is that the many film development and photo printing places disappeared with the general adoption of digital cameras – a bit like the horse-drawn wagon made way for the automobile.

We already hear lots of talk about driverless cars which eventually will make taxis, Lift and Uber drivers unnecessary. San Diego County was just chosen to be part of an extended Drone program and Amazon has been talking about deliveries by drones for a long time.

We are just at the beginning of exploring what we can accomplish with Artificial Intelligence. But one thing is becoming increasingly clear. Many jobs will disappear as we are moving along this path.

Of course, people can find all kinds of things to do with their time. But everyone needs food and shelter – hence the idea of a Universal Basic Income.

The scenario described above is looking into the future. Fact is that there are many people in the world right now who do not have the luxury of secure shelter or knowing where their next meal will come from. Every one of them will benefit from being able to count on an income that fulfills their basic needs.

We all have learned about Maslow’s Theory of needs and how our lives are formed by this. If you haven’t, here is the Wikipedia link.

How Can a Univeral Basic Income Be Achieved?

So far, all makes sense, but how can a Universal Basic Income be achieved? That, of course, is the question which comes to everyone’s mind.

Does it mean that the rich have to give up their money and their lifestyle to lift up the poor?

No. That has been tried in systems of attempted Socialism or Communism and the models haven’t worked very well at all.

Does it mean that we all have to pay more taxes and the State gives out the UBI? Some countries are trying that model. But if we stick with the theory that fewer people will have paying jobs, that will put the burden of creating the source of the UBI on fewer and fewer wage earners and make it not sustainable.

So, what can we do?


Enter cryptocurrency. To explain cryptocurrency requires an article in and of itself, but we are touching on it in the podcast and I will also link to a previous episode where we are talking extensively about what is the blockchain and what is cryptocurrency.

Here is a short explanation. Cryptocurrency is an application housed on a blockchain. The value to each token is assigned to it by the user. This is similar to fiat money you are used to. For example, the American Dollar is more or less a piece of paper we all agree has a value and we can use it in exchange for goods or services we need or want.

The value changes over time. We all are familiar with inflation. That means that we can buy less for the same amount of money over time. Money can also rise in value and we can buy more.

The same holds true for cryptocurrencies. We assign the value to a token and the more people who also see value in it, the more the buying power of that token rises.

The theory behind creating a token to give out as Universal Basic Income is based on or at least illustrated with Metcalfe’s law. This is a very simplified version: The more people are using something, the more valuable it becomes. Here is the wikipedia link to understand it better.


How Can I Receive a Universal Basic Income?

That is an easy question to answer!!

Manna Universal Basic Income is a 501c nonprofit organization in the US dedicated to ending worldwide poverty. Their goal is to get their token, Manna, to as many people as possible.

Why? Remember, the more people who are using it, the more its value will increase.

All you need to do is to sign up. Here is my referral link: https://www.mannabase.com/?ref=179a62831e 

If you use my link, we both benefit.

You will have to verify that you are you. That is it. Everyone can participate.

I Don’t Need Another Income. Should I Sign Up?

Even if you don’t need an income, sign up and then give your share of Manna to someone else. There are several ways to go about this.

One, of course, is that you cash out your token and hand the cash to a homeless person or a neighbor in need.

Another way is that Manna is already cooperating with several charities and you can give your share of UBI to a charity.

Or you and a group of people can dedicate your shares to a project you are interested in supporting. This can be your church, a Youth program or the community garden you want to get off the ground.

The possibilities are endless!!!

I am excited!!

Are you? What do you think about the idea of Universal Basic Income?

Are you going to participate?

The Referral Links

I will receive a benefit from some of these links.

Manna Universal Basic Income: https://www.mannabase.com/?ref=179a62831e

Also, join Steemit.com and look for @sustainablelivin, @mariannewest, @taskmaster4450

Are you interested in other sources of earning for doing what you already do:

Join Sola and earn SOL: https://sola.ai/posts/MDExZWV

Listen to bitrad.io and earn Bro: https://bitrad.io/?ref=97511

Want to earn sweat coin by walking outside? https://sweatco.in/m/marianne827343


Other Podcasts on this General Topic

Blockchain & Cryptocurrency – What?

Michael Tellinger on Ubuntu and More






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