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Cryptomic Welfare Systems

Cryptomic Welfare Systems

GIVING THROUGH THE CREATION OF NEW ENGINES OF WEALTH

There is a lot of discussion of whether Universal Basic Income will be required for folks who are unable to compete meaningfully in successfully more advanced and talent-driven economies.

The assumption is that heavy taxation and redistribution of wealth will be required for this, to a degree that may not be thermodynamically possible, and certainly may not be feasible (let alone desirable).

I believe that there are other alternatives. The power of DAOs and AI CEOs running companies in the cloud that may be bootstrapped within days, means that we can create wealth voluntarily within the free market.

UBI is seen by some as a sort of postmodern dog-whistle of the technocratic age for an extreme form of socialism, despite guaranteed income having had some ostensible rightist proponents such as Friedman.

Every time that Communism has been applied the results have been completely catastrophic. All states apply coercive practices and monopolistic violence and fraud, some more than others. The most ostensibly revolutionary tend to be the most coercive, and therefore destructive.

However, somewhat surprisingly, something akin to the maxim of  'from each according to his ability, to each according to his need' can actually work quite nicely, but onlywhen it is voluntary.

The Free and Open Source Software movement powers many of our smartphones, servers, and cyber security. Our world runs on it, but not exclusively. There remains plenty of room for proprietary software also.

All of these amazing FOSS contributions have been created by random nerds producing things for free, entirely voluntarily, for a little bit of status within a very small community, and out of a desire to see something exist in the world.

This same spirit will enable free and open source businesses run by AI that can trade, arbitrage, and perhaps even provide micro services, almost entirely autonomously.

These businesses, producing real value for real people, can also produce dividends for real shareholders. Those with capability and the FOSS mindset can bootstrap an open business in a few days, and common people can receive a real lifestyle boost via 'Doge Corp' or whatever. No taxation or coercion necessary, and whoever creates one gains huge, lasting props for their noblesse oblige. Those with virtual virtue, discerned via machine ethics technologies, will have first dibs in the bestowal of alms.

We have companies today like this already, such as Newman's Own, and co-operatives, but with the power of AI and decentralised structures we can spawn similar ventures endlessly at a huge rate. Traditional companies will remain, thereby creating a mixed market of for-profit and non-profit ventures.

I really hope that these concepts get added to the prevailing narratives on UBI. They are surely no more wacky than the idea of solving complex social issues at gunpoint.

Of DAOs and CEOs

Of DAOs and CEOs

The Virtual Founder

The Virtual Founder