Universal basic income on blockchain: the case of circles UBI
The paper reviews Circles UBI as an illustrative case study of implementing the idea of universal basic income (UBI) on blockchain. Circles was born out of the Gnosis Chain as a more democratic alternative to Bitcoin coupled with the ambitious political project of algorithmically distributing UBI. B...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Frontiers Media S.A.
2024-03-01
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| Series: | Frontiers in Blockchain |
| Subjects: | |
| Online Access: | https://www.frontiersin.org/articles/10.3389/fbloc.2024.1362939/full |
| _version_ | 1797261798453280768 |
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| author | Vangelis Papadimitropoulos Giannis Perperidis |
| author_facet | Vangelis Papadimitropoulos Giannis Perperidis |
| author_sort | Vangelis Papadimitropoulos |
| collection | DOAJ |
| description | The paper reviews Circles UBI as an illustrative case study of implementing the idea of universal basic income (UBI) on blockchain. Circles was born out of the Gnosis Chain as a more democratic alternative to Bitcoin coupled with the ambitious political project of algorithmically distributing UBI. Backed by the Gnosis Chain, Circles Coop was founded in 2020 to implement this idea in Berlin. Examining the failure of the Berlin pilot helps us draw substantial conclusions with regard to the implementation of UBI on blockchain. UBI alone, on blockchain or not, is not enough to solve the problems its proponents argue against. UBI would be helpful as a tool if plugged into a model of production embedded into a political strategy aiming to fix key problems of current societies such as gaping inequalities and climate change. We give a snapshot here of the model of open cooperativism as a counter-hegemonic political project vis-à-vis neoliberalism. Circles UBI could plug into the model of open cooperativism as a distribution and liquidity injection mechanism to foster the transition towards a commons-based ethical and sustainable post-capitalist economy. |
| first_indexed | 2024-04-24T23:46:57Z |
| format | Article |
| id | doaj.art-ba395e270b1e419eb3456cf4f0e03e7e |
| institution | Directory Open Access Journal |
| issn | 2624-7852 |
| language | English |
| last_indexed | 2024-04-24T23:46:57Z |
| publishDate | 2024-03-01 |
| publisher | Frontiers Media S.A. |
| record_format | Article |
| series | Frontiers in Blockchain |
| spelling | doaj.art-ba395e270b1e419eb3456cf4f0e03e7e2024-03-15T04:55:05ZengFrontiers Media S.A.Frontiers in Blockchain2624-78522024-03-01710.3389/fbloc.2024.13629391362939Universal basic income on blockchain: the case of circles UBIVangelis Papadimitropoulos0Giannis Perperidis1Department of Economic and Regional Development, Post-doctorate Researcher, Panteion University, Athens, GreeceDepartment of Political Science and History, Post-doctorate Researcher, Panteion University, Athens, GreeceThe paper reviews Circles UBI as an illustrative case study of implementing the idea of universal basic income (UBI) on blockchain. Circles was born out of the Gnosis Chain as a more democratic alternative to Bitcoin coupled with the ambitious political project of algorithmically distributing UBI. Backed by the Gnosis Chain, Circles Coop was founded in 2020 to implement this idea in Berlin. Examining the failure of the Berlin pilot helps us draw substantial conclusions with regard to the implementation of UBI on blockchain. UBI alone, on blockchain or not, is not enough to solve the problems its proponents argue against. UBI would be helpful as a tool if plugged into a model of production embedded into a political strategy aiming to fix key problems of current societies such as gaping inequalities and climate change. We give a snapshot here of the model of open cooperativism as a counter-hegemonic political project vis-à-vis neoliberalism. Circles UBI could plug into the model of open cooperativism as a distribution and liquidity injection mechanism to foster the transition towards a commons-based ethical and sustainable post-capitalist economy.https://www.frontiersin.org/articles/10.3389/fbloc.2024.1362939/fullUBIblockchaincirclesmutual creditopen cooperativismthe commons |
| spellingShingle | Vangelis Papadimitropoulos Giannis Perperidis Universal basic income on blockchain: the case of circles UBI Frontiers in Blockchain UBI blockchain circles mutual credit open cooperativism the commons |
| title | Universal basic income on blockchain: the case of circles UBI |
| title_full | Universal basic income on blockchain: the case of circles UBI |
| title_fullStr | Universal basic income on blockchain: the case of circles UBI |
| title_full_unstemmed | Universal basic income on blockchain: the case of circles UBI |
| title_short | Universal basic income on blockchain: the case of circles UBI |
| title_sort | universal basic income on blockchain the case of circles ubi |
| topic | UBI blockchain circles mutual credit open cooperativism the commons |
| url | https://www.frontiersin.org/articles/10.3389/fbloc.2024.1362939/full |
| work_keys_str_mv | AT vangelispapadimitropoulos universalbasicincomeonblockchainthecaseofcirclesubi AT giannisperperidis universalbasicincomeonblockchainthecaseofcirclesubi |