Blockchain-based solution for community-driven basic income.
Circles UBI represents a transformative effort to implement a decentralized universal basic income model through blockchain technology. Launched in Berlin in 2021, it was envisioned as a tool for communities to achieve economic self-sufficiency and democratized financial operation without reliance on centralized banking systems or government interventions. The platform allows individuals to issue personalized cryptocurrencies, called Circles tokens (CRC), which serve as a medium for economic exchange among community members. These tokens are distributed at a fixed issuance rate and operate under a universal basic income model patterned to foster mutual trust among users, thereby enhancing financial accessibility. Circles leverages Ethereum-compatible smart contracts deployed on the Gnosis Chain to ensure consistent and secure decentralized operations. As opposed to conventional currencies, CRC tokens are designed primarily for internal community exchanges and are not suited for trade with fiat or other cryptocurrencies. This currency is validated through a social trust network, where trust relationships between participants are established through a Web of Trust protocol. The netwo...
Circles UBI represents a transformative effort to implement a decentralized universal basic income model through blockchain technology. Launched in Berlin in 2021, it was envisioned as a tool for communities to achieve economic self-sufficiency and democratized financial operation without reliance on centralized banking systems or government interventions. The platform allows individuals to issue personalized cryptocurrencies, called Circles tokens (CRC), which serve as a medium for economic exchange among community members. These tokens are distributed at a fixed issuance rate and operate under a universal basic income model patterned to foster mutual trust among users, thereby enhancing financial accessibility. Circles leverages Ethereum-compatible smart contracts deployed on the Gnosis Chain to ensure consistent and secure decentralized operations. As opposed to conventional currencies, CRC tokens are designed primarily for internal community exchanges and are not suited for trade with fiat or other cryptocurrencies. This currency is validated through a social trust network, where trust relationships between participants are established through a Web of Trust protocol. The network landscape creates a social graph which supports transaction fungibility across user-issued currencies, thus incentivizing economic activities based on trust rather than external monetary valuations. Ambitiously designed, the currency notably suffers a planned 7% annual deflationary rate intended to discourage hoarding and promote transactional fluidity. The inevitable convergence of currency balances over time aims to promote equitable distribution and participation across varying user timelines.
Despite its innovative proposition, Circles UBI faces significant sustainability challenges amid financial constraints, which threaten to halt operations by early 2024. Nevertheless, its foundational functions, including digital wallets and marketplace utilities, remain operational as discussions on strategic continuations unfold. Circles aspires to challenge economic paradigms, transforming the concept of currency into a participative, trust-driven community instrument for economic engagements. Its initiatives underscore a shift towards decentralized, equitable economies, emphasizing cooperative engagements through a democratized, trust-based currency system. By decentralizing monetary policy onto community participants, Circles offers a glimpse into how Web3 technologies can redefine socio-economic interactions and redefine resource access through technological transparency and social equity.
Circles UBI is a decentralized project designed to implement Universal Basic Income (UBI) on the blockchain. Built on Ethereum, it aims to provide a fair and equitable wealth distribution through its digital currency. The platform leverages decentralized finance (DeFi) and smart contracts, allowing users to issue personal currency and receive regular allowances, fostering community engagement and economic activity.
Circles UBI operates on the Ethereum blockchain, using smart contracts to automate and manage the distribution of its digital currency. Users receive an allowance of their personal currency, which they can exchange within the Circles economy. This system is based on mutual trust among users, promoting local trade networks and economic collaboration, independent of central authorities.
The benefits of Circles UBI include providing a decentralized and equitable basic income, fostering economic activity and community development, and operating independently from central authorities. It encourages mutual trust and collaboration, increases the velocity of money through a 5% annual inflation target, and maintains stability through peer-to-peer relationships and local trade networks.
Circles UBI differs from traditional financial systems by offering a decentralized, unconditional income, as opposed to earning through labor, borrowing, or selling goods. It eliminates central control over currency issuance and relies on a trust-based social network, promoting cooperation and community engagement. Traditional systems focus on centralized control and debt-based currency, while Circles encourages sustainable economic interaction.
Circles UBI is relevant in today's financial industry as it leverages blockchain technology to tackle socio-economic issues like income inequality. By applying decentralized finance principles, it offers a novel solution for inclusive financial systems, extending blockchain's applications beyond traditional finance. It highlights blockchain's potential for creating an equitable economic environment through community collaboration and decentralized structure.
To address common issues in Circles UBI, users should first ensure they're familiar with the basics of blockchain technology and Ethereum. Engaging with community forums and official resources can help troubleshoot specific problems. Additionally, users should maintain clear communication within their trusted network, as the system's success heavily relies on mutual trust and collaboration for stable economic exchanges.
A decentralized finance platform optimizing crypto transactions and governance.
Money is a commons. UBI Research is a think tank exploring Universal Basic Income across economics, law, and technology.
Empowering entrepreneurs with NFT-based memberships
impactMarket is a decentralized protocol leveraging DeFi and blockchain to offer UBI for global poverty alleviation, empowering communities with their own currencies.
CoinCircle simplifies crypto trading & earning interest, offering tools for passive income, competitive rates, user-friendly platform for all investors, emphasizing compounding interest & secure transactions.
Conducts blockchain research, innovating for scalable and private financial tech.
Circularity Finance merges decentralized finance with sustainable development, utilizing CIFI and REFI tokens to enable business micro-services and Smart Assets deployment.
Universal Binance Union
Credit Circulation, Asset Circulation & Value Circulation.
Banque Universal is a structured financial platform powered by CBU, focusing on asset-linked digital currencies and fostering global trust in crypto.
Magic Circle is a decentralized CryptoArt and NFT marketplace, leveraging web3 to offer a community-centric platform for creators and collectors to trade, verify, and engage with digital art through blockchain technology.
Merit Circle is a DAO in the web3 gaming ecosystem, focusing on play-to-earn games. It invests in P2E projects, offers a marketplace for in-game assets, and uses the MC token for governance and rewards within its community-driven platform.