Electroneum Basic Income


Imagine 100 people land on a earth like planet and everyone had 1000 ETN in their wallet. Everyday they would automatically get 10 extra ETN.
This group of 100 people is very divers and some people have skills, some people are intelligent, some people are smart and others are just lazy.
Because everyone needs to eat everyone will have to grow his/her own food. Some people will be better at it then others and not everyone likes to grow food. Others like to build a house or like to fish and there are always a few who just like to lie on the beach. The group will establish exchange rates and one basket of food can be traded for 8 ETN. The labor of one house builder will be 3 ETN per hour and one fish will be 2 ETN for example. So far so good. Everybody can buy food even the people who aren’t capable or just don’t want to do anything. But the one who grows food will live in a nice house because he can afford some builders to build it. The big group can even decide to create a small group of people who go and talk all day and make up new rules that they think are necessary and who will demand a portion of your ETN so they can do stupid things with it. (I can’t imagine why they would do that but people are strange). But let’s say they do and this group decided that it was necessary that everyone should have one solar panel. I hope you can see how this distorts the natural flow of the group. Someone has to make these solar panels and usually it will be a good friend of the little group who gets the job even if he sucks at it. After everyone has a solar panel they will think of something else otherwise they have no purpose to sit and talk all day so they will decide now that everyone needs an igloo.
The key thing here is that you can’t buy ETN, you can only accumulate more if you do something productive for the community.
How is this going to work on this planet? First, everyone who installs the app and verifies him/herself should get the same amount of ETN that everyone else has including the extra 10 ETN a day.
Everyone gets the same opportunity once they join. Second, no buying or selling ETN. This should be easily traceable because the total amount of ETN with a persons digital signature should be the same as everyone else. Third, get rid of those nasty little groups distorting the natural flow of society (but that will solve itself eventually)
This is my idea. Let me hear all your exceptions and objections why it’s not going to work.




The blockchain ideal in a nutshell. Sounds like a good dream!
I think the problem is less about the system working than it is about the rocky path getting there. In reality we have so many damn people, and the wealth distribution is so distorted (with heavy resistance against its correction), that attaining this goal is still a far off concept. Ideals are fun, but they’re of no use if there’s no clear path to attain them.

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Yeah, it’s far from reality. But I looked at this project and it is the closest thing. There is nothing stopping 6 billion people to use something else to trade with. If you can’t buy or sell the coin it can’t be a security. If I could do it I would fork electroneum and set it up my self. I think it’s a last possibility to have a complete reset before we completely destroy our planet by consuming everything on it until there is nothing left. It’s all about incentives and marketing to get it spread across the globe. If I tell 2 people and those two people both tell 2 people within a month everybody in the world knows about it. It’s really simple really but people are the difficult factor in this story.

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Absolutely. I’m referring more to the government policies that will be slow to adapt towards this vision. Especially with old money lobbying so hard against change.
On the business side, there are marvellous companies, including Electroneum, which are making large strides in this direction.
Now is an exciting time.

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