This one really isn’t hard. It just needs a complete reconstruction of the base of the financial system: of money. Instead of one-dimensional money, we need to make it two-dimensional: give birth to the other side of the coin.
One-dimensional money – as we have it now – is as it is. Equal on all fronts: a euro is a euro, a ruble is a ruble, a yuan is a yuan: earned by working for it.
Two-dimensional money maintains the equality of the number. A euro is still a euro in number. But two-dimensional money arrives into our use through two separate forms:
First, we have money as we know it now: that earned through work, useable and saveable in the marketplace.
Second, we have money as we will know it through universal basic income: that given as a natural right, enabling all lives to be lived with a basic sense of dignity. Natural Money differs from Worked Money in that it is born at the beginning and laid to rest at the end of each month. Natural Money can only be used – not saved – and thus it can be directed purely in the direction of covering life’s basic necessities so that everyone can live with dignity.
Now that we have the blockchain, we can build it. Two-dimensional money is within very easy reach, administratively & technologically. Just issue each Citizen a payment card, load it up with Natural Money every month, and send them out into the marketplace.
The purveyors allowed acceptance of Natural Money can be limited by a standard definition of basic needs (not too much science required here – and politics will maintain the definition process across time). In turn, purveyors accepting Natural Money will – of course – have it transferred into Worked Money that they can save up, since they have worked for it.
The importance in making Worked Money saveable is that that annotates the value of work as the path towards ownership and increased personal sovereignty, and we should wish to maintain the value of work, as work is what keeps us where we are, setting the preconditions required for us to be able to move forward. Without work, we inevitably slide backward as we forget how to operate the societal machine and all its parts – such is the process of natural decay, which work counters, and let us not forget that society is a part of Nature. By making Worked Money saveable and thus giving it additional value as compared to Natural Money, we maintain the sanctity of the value of work and preserve the value of equities already had.
This is not to say that a life lived mostly or perhaps someday even fully on Natural Money isn’t or won’t be a sovereign life in and of itself, as well. It is just that work should have the higher valuation when it comes to increasing One’s sovereign power through ownership, since ownership is a powerful world-defining force that shouldn’t come without prerequisites. Ownership sets the stage for our forward progress by having control over the equity that we live our lives upon, and it takes work to own something well. The value of work cannot be discounted.
This solvation of universal basic income is completely dependent on us living in the digital age, since otherwise the overhead costs of issuing and transforming the moneys every month would be irredeemably high. Let it be an example of why the digital platform we have built is worth preserving at all costs. It is what allows us to live in freedom – now and always to come.
A final note
It is important to see how universal basic income allows for a more sustainable growth path for the economy over time, by being a natural stream of income not dependent on any other factor than the fact that people live. This fuels the economy without the need for work that might not otherwise need to be done, saving natural resources and allowing for people to live more freely.
Universal basic income removes the infinite growth pressure on the economy brought on by the design of our retirement systems, which are currently dependent on the infinite growth of equity values, which are in turn dependent on the infinite growth of productivity, which in turn means the constant further pressurisation of workers, leading to the inevitable string of social unrest seen across history, when pressures come to be too high to bear – just as is being seen in France right now, for example, and probably in many other places to come, as well. That is – unless changes are made in time to the economic balance of power.
All in all, the economic calculation of the past simply won’t work in the modern age. One-dimensional money – where there lies a dominant-submissive relationship between owners and operators – simply cannot deliver the solutions we need to fix all the problems we have, from climate change through to economic inequality and all the social problems that these bring.
The only way forward – the only way to depressurise the economy whilst maintaining systemic stability and a modern quality of life – is to introduce a universal basic income. The best way to do that is to give rise to two-dimensional money. There is no better way to give power to the people – the power that they need to live their lives in peace, free of everyday fear, like animals in the wild.
We are not animals. We are humans: destined to live in peace, in comfortable indoor spaces.