What do you think?

I think in the face of AI taking over many tasks, we need to rethink about how we frame the future of society. Reframing Universal Basic Income as Automation Compensation means presenting the policy as a way to make up for jobs and income lost due to automation and AI. Instead of viewing UBI as a general welfare payment, it becomes seen as compensation paid to everyone for the value automation creates, supporting those whose work is replaced by machines and helping everyone share in productivity gains. Especially in the US, the average person doesn’t like the idea of someone getting something that they’re personally not receiving. So framing it as a compensation that everyone receives regardless of employment status I think is the only feasible way forward.

    • pelespirit@sh.itjust.works
      1·
      18 hours ago

      So, this would be based on crypto? That’s what I understand, like the stable coin. I have many questions that they didn’t really cover.

      It seems that the way the dividends come about is by loaning out money, your $3 becomes $97. Is that correct? If so:

      • Who is handling these transactions and overhead?
      • What if people don’t pay back the loan?
      • What if that money is stolen? Crypto can be easily corrupted and traced.

      There’s more questions. I’m not trying to shoot it down, I just want to understand.

      Edit, is it still tied to SOFR?

      However, it may still be vulnerable to manipulation. Banks can borrow and lend at biased rates in the wholesale funding market, which can lead them to profit in the much larger market for benchmark-indexed contracts.[8] It was therefore suggested that the lending costs of individual banks be published to increase transparency and deter manipulation.[8]

      The Bank for International Settlements, which serves as the bank for central banks, said in March 2019 that a one-size-fits-all alternative may be neither feasible nor desirable. Although SOFR solves the rigging problem, it does not help participants gauge how stressed global funding markets are. That means SOFR is likely to coexist with something else.[13]

      https://en.wikipedia.org/wiki/SOFR

      • kibiz0r@midwest.socialEnglish
        1·
        15 hours ago

        Not crypto. Just digital. So, centralized, subject to anti-fraud regulation, reversible transactions, etc.

        Not loaned out. Explicitly marked as not-loanable. Which would be foolish in today’s market, because you’re losing out on a dividend. Except… the bank actually keeps most of the benefit from your deposit being loanable normally. This way, you get the benefit instead.

        Basically, it allows depositors to compete against the banks. So they can’t take you for granted, because you actually have alternative.