INFORGRAPHIC: Five ways crypto can improve Universal Basic Income (UBI)
Universal (or unconditional) Basic Income (UBI in short), has gained a lot of momentum around the world in recent years. Here are five ways that crypto can help deliver more impactful UBI programs:
Efficiency
By cutting out the need for costly intermediaries, like banks, crypto can help deliver more cost-effective , rapid, and efficient UBI.
Automation
Through smart contracts, crypto UBI programs can be automated to deliver payments on a regular schedule, ensuring everyone gets their UBI.
Inflation Protection
UBI can be delivered via stable coins pegged to any currency, helping eliminate the risk of fluctuations often found in the local currencies of emerging economies.
Transparency
Blockchain-based UBI programs would be highly transparent, auditable, and fraud resistant, with every transaction being stored on an immutable ledger.
Decentralization
Whereas UBI programs are typically delivered by centralized bodies, blockchain enables communities to take ownership over, and manage their own UBI programs.
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