Is Ğ1 a Universal Basic Income (UBI)?

Category Understanding the basics

Ğ1 compared to UBI

The Ğ1 currency system is anchored to human participation (instead of debt, in the case of the fiat currency system).

Members receive a small amount of Ğ1 currency daily, automatically and unconditionally, through a 'trust-free' co-creation mechanism. ('trust-free' = no third party is needed to administer it; no one controls it and no one can impose conditions on others).

This small daily amount is called the "universal dividend" or "UD". This is very different from the concept of 'basic revenue' or 'universal income', which is usually administered by a third party (eg. government, company, NGO, etc.) who has centralised control over the money distribution (and therefore must be trusted). These third parties often grant themselves authority to impose conditions for one to be able to gain access to their money, or may withhold it, based on a person's profile or behaviour.

Financial empowerment

In addition to receiving a daily universal dividend (UD) in Ğ1, you can trade products and services; give and receive donations in recognition of value contributed; and make a living. Unlike the debt currency system, where one must (albeit by choice), keep 'running on the treadmill' to pay back the interest on loans taken out. Instead, one can focus on creating and sharing their work and skills with their community.

G1 is money created by all members equally, whereas a UBI is distribution of an income by a third party; a hierarchical system, not an equal co-creation of the currency.


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le 05.10.2022 à 15:15:17
Translated by Aurélie
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