What is Universal Basic Income? It’s a concept in which all citizens of a given population regularly receive a legally stipulated and equal benefit paid by the government. Sounds like a pretty good deal right? One problem, just like the government can give UBI benefits, those benefits can easily be taken away as they do with many other programs for people in need.
Let’s take a look at what by-then Mayor Michael Tubbs of California did in 2019. The SEED program gave UBI to a small amount of residents a monthly stipend to help support the cost of living expenses etc. Research showed that this program increased not only financial stability but also physical and mental health. It also showed an increase in employment in the area that UBI was incorporated. We can probably all agree that since 2019 things have drastically changed for the worst due to COVID. Lay offs, business closures, people getting sick, losing loved ones as well as the economic backlash and now inflation is the cherry on top.
Far too many people are experiencing hardships across the world. Nothing seems to be getting easier and people are at their whit’s end. Everything has gotten harder to deal with. Piled up bills, overdue rent, car repossession, overdrawn bank accounts, collection calls, the list goes on…Many countries have tried and experimented with UBI and later backed out because of the fear of shadow economies rising, increased immigration, and overall government greed and control.
This is where Intercoin can play an important role in society and decrease stress and increase wellbeing. Each member of a community can receive (if voted for by the community if they choose to do so) an “airdrop” of money they can use on necessities. It can also be funded by donors and within the communities to gradually inflate their internal money supply. Community currencies powered by Intercoin enable communities to help their own, without waiting for the Federal Government or being told NO. This would be completely voluntary and decided by the community itself.
With UBI implemented in the lives of the people, economies can grow and people can get back to focusing on more important matters in their lives. This can in turn get them to a comfortable place and growing with confidence and dignity.