About the logo: From left to right: a pool that collects money from its contributors to be spread widely; as a horn to spread the news that UBI is here. From right to left: as a pool of value that drips money to individual UBI-Vault citizens.

UBI-Vault

Open source system to raise money, put it in the UBI-Vault and distribute this money from the UBI-Vault as a Universal Basic Income to individual citizens.

Description

Hilde Latour and Roland Sassen, just started this cool Global Distribution Project: UBI-Vault

They solve the problem of how to distribute UBI (Universal Basic Income) money to citizens, so that it is easier for organizations and governments to decide to give money to the UBI-Vault.

Design

The core of the (open source) UBI-Vault is a blockchain system, with Ether as cryptocurrency and smart-contracts as programming tools. By using blockchain technology the UBI-Vault is very resistant against fraud, the automatic distribution system works without human intervention. Also any money transfers are visible for anybody on the public blockchain. Citizens will use a mobile phone for identification; later on biometric access methods can be added. Eventually, the only thing the UBI-Vault needs to ‘know’ is: are you a unique human being?

Money coming in

Self-owning machines and companies (AI DAOs) can deliver their surplus to the UBI-Vault, the money is then automatically distributed to UBI-citizens.

(Read more about AI DAOs and how these can change our world: Nature 2.0 The Cradle of Civilization Gets an Upgrade )

It is also possible to transfer conventional money into the UBI-Vault, which makes it suitable for all kinds of funding.

Distribution of UBI

Citizens have their own wallet to receive money from the UBI-Vault distribution system. Starting in low-income countries, the UBI-Vault aims at supporting as many people as possible, independent of their income.

As we have learned from cash-transfer programs organized by Give Directly and experiments in Namibia and India, a small amount of money every month can make a huge difference in African and Asian countries.

UBI-Vault recipients will be able to choose whether they receive their UBI in Ether or convert it into conventional money.

Support

You can support the development of this not-for-profit project by sending a donation to: UBI-Vault