The Upvote Economy On Steem: A UBI Based SystemsteemCreated with Sketch.

in #busy5 years ago

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There is an interesting project just announced by @clayop. It is an experimental layer placed upon Steem meant to help with identification and helping newer users succeed on Steem.

Essentially, they are creating a basic income for users who verify via their program. This income is given based upon upvotes.

It will start in Korea since there is a strong identification system. The goal is to reach 15,000 new users in 6 months. Those who choose to verify their identities and post will receive a weekly upvote. The account will have a 250K-400K deletion from @clayop with other large stakeholders being contacted. I would presume the goal is to get this account into the millions.

There is also Steem and RC being donated for this cause. The other two backers at this point are @steemhunt and @tasteem. I find it really exciting that two applications are involving themselves in this endeavor.

To read full post:

https://busy.org/@clayop/plans-for-basic-income-with-verification-on-steem

I truly love reading about initiatives like this. Personally, I think this reveals part of the capabilities of the upvote economy. Upvotes have incredible power on Steem because of the reward pool. While many do not like the inflation rate, I think, at this point, there is more good coming out of it than bad. A project like this fully shows the good that we can do.

Basic income is something that I feel is going to be necessary. Those who regularly read my articles know that I am a believer in the idea that technological advancement will destroy jobs. The fact that there were reports that those at Davos, while proclaiming one thing in public, were open behind closed doors with their view that they wanted technology to replace jobs.

People are going to need help. Of course, turning to the government means that people are just becoming dependent upon the government; basically just switching masters. This is not freedom.

Cryptocurrency (cryptoeconomics) offers another solution. This move by @clayop shows that. Through the use of the upvote. we can fund different things. A consistent vote, similar to what @steembasicincome is doing, can provide people with a revenue stream. We will see how this all pans out over time.

It is fin to watch the different experiments that are taking place. Overall, I feel cryptocurrency is going to be the answer to many of the world's financial problems. It is the game changer that the population is looking for.

Unfortunately, at this point, they do not know it.


If you found this article informative, please give an upvote and resteem.

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I have a feeling we will see more and more of these projects team up to start helping eachother. It will. Be interesting how far these integrations will go if they will stay strictly helping from a delegation upvote perspectice or start turning into large companies or DAOs

I think it will be interesting to see what happens when SMTs are on the blockchain along with an exchange. That provides a value to them.

We could see more projects not only using SP but also the powering up of the application's token.

There could be a lot of wealth created on here.

Yeah I'm interested to see what SMTs will hold and what will be the use cases for them. I'm optimistic, but I think it will be a few years before projects really start coming into their own with SMTs and how to use them.

I do agree with you. There will be experimentation with them until we really figure out use cases. The good thing is each good idea will spread like wildfire. Blockchain is a lot of copying of ideas; and then someone builds upon that and it it adopted by many.

Over time, we keep moving up the scale.

For sure. It's nice not only do people build better versions, but different versions can be created for different niches in various areas as well. It's awesome to see projects not only grow up, but out as well.

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I also believe that programs like this motivate activioand engagement. As I have participated in some communities, I have made myself accountable to remain active to post on a daily basis. This could set a great foundation for users looking for a way to get great support and create value by engaging.

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A UBI can work if:

  1. If it's not based on force, and
  2. Attracts more value to the DAC than it puts out.

If it attracts users and affects the DAC's public relations in a positive manner, then it can draw users who will put more money into the system than the altruistic lottery puts out. In the future we'll have to be picky about who we give money to, so it won't really be "Universal" - just in name only. This is because we will have to publicize it heavily. A real UBI just costs too much, and we get more value out of publicizing the awards to the most needy cases. Why would I invest in a company that just gives away all its money?

This post has been included in the latest edition of SoS Daily News - a digest of all you need to know about the State of Steem.

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