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Thursday 25 May 2017
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20th December 2014, Kumasi, Ghana: the Decentralized Application (DApp) basicincome.co will be hosted on the Bitnation core platform – Bitnation Pangea – after its release in 2015. Basicincome.co will be a first experimental attempt to provide a system for a crypto based Universal Basic Income (UBI), entirely based on voluntary ‘taxes’ (e.g. transaction fees).

The UBI model was first suggested  as a ‘capital grants provided at the age of majority’ by Thomas Paine in 1795, however it has gained more widespread popularity over the last few decades because some imagine a world where computers do most of the work, and few people have actual jobs despite an overall wealth surplus in society. Whether you agree or disagree with that vision, it’s undeniably a pleasant thought to have an unconditional minimum guaranteed income to live on.

Recent studies funded by UNICEF indicates that in the pilot areas in India, UBI created both greater economic growth, as well as social improvement in terms of health and schooling. Bitnation aims to deliver governance services primarily targeting frontier and emerging markets, hence the test results are relevant to Bitnation’s UBI implementation in those areas.

Basicincome.co was invented by Johan Nygren, a young Swedish student experimenting with socioeconomic models. Johan started working on the idea two years ago, but is only now going public with it. Johan is keen to invite the crypto community for constructive input and get engaged in the project. For those who wish to get involved, please visit the basicincome.co GitHub repository.

“In my Basic Income #DApp, your safety net emerges from the sum of your financial interactions, allowing you to live and evolve as a global and mobile citizen. Basicincome.co transforms the stage upon which we unfold.”

—Johan Nygren
How to Create Resilience [2013], SpaceCollective

The backbone of  basicincome.co is the swarm redistribution model. The feedback-loop concept means that everyone who consumes within a network, partakes in its culture, consumption, functional creative output, mind as a force of geology, and as a result the consumption within ‘the resilience network’ is exclusively self-reinforcing, because of the incentive layer.

Bitnation is a collaborative platform for DIY Governance, providing borderless, decentralized and voluntary type of blockchain-based governance applications. The Bitnation platform is set-up to host an ID system based on verification and reputation, a dispute resolution system, a Governance App and DApp library, and the ability to execute and store all your blockchain based contracts, such as land deeds, wills, child care contracts, marriage contracts, corporate incorporations, and more. Basicincome.co solve a problem people would normally think only a government could solve, but it solves it in a peaceful voluntary free market manner, which fits perfectly into Bitnation’s vision of a voluntary Governance 2.0 future.

Johan Nygren is available for interviews and comments. For further enquiries please contact info@bitnation.co

For more information, please see the GitHub, and check out the content Johan has published, including WhitePapers, on http://resilience.me

Here’s an introduction video.

Governance 2.0:
Borderless > Decentralized > Voluntary