Cryptocurrency’s disruptive effect on both personal and global finance cannot be understated. Up until recently, most crypto enthusiasts have been more interested in their own personal wealth than increasing the wealth of others; however, all of that has changed with Mannabase, a new player in the crypto markets that espouses the merits of universal basic income (UBI) through digital currency.
A Crash Course on UBI
Unfamiliar with the idea of universal basic income? You wouldn’t be the first. An anti-poverty initiative, UBI as a core philosophy involves providing a base amount of income to individuals in order to help them meet their basic living costs. Often derided as the sort of socialist Utopian thinking that might have a place in science-fiction universes depicted in Star Trek but are otherwise completely impractical for the real world, UBI as a concept is usually dismissed outright because of the logistical nightmares of gathering taxpayer funds and then disbursing them equally throughout a nation’s population — though this hasn’t stopped progressive countries like Finland from launching UBI pilot programs to research its effectiveness.[1]
With the major criticism of UBI being that the money has to come from somewhere, detractors have pointed out repeatedly that only through increased government taxation could universal income systems be put into place. As the phrase “the redistribution of wealth” sends capitalists into spittle-flecked paranoia over the rise of socialism, traditional, government-backed UBI projects are few and far between. However, a new project, one that harnesses the decentralized power of cryptocurrency and takes regulatory bodies like the government out of the equation completely, has been growing steadily over the past year.[2]
