Hi forgive my newness, I signed up just for this conversation. I have an idea for modeling a block chain solution after a guaranteed income-style proposal that previously involved traditional banking. I am a founding member of the Coalition for Capital Homesteading capitalhomestead.org which at this time supports a plan that proponents of minimum incomes seem to like. I have been studying monetary reform for years and I along the way I discovered something called Binary Economics which I believe has the best principles for supporting all of humanity, expanding freedom and allowing maximum growth without inflation. It is not perfect but I feel strongly that something like it really needs to be tried, even of only in one state or region.

The main concept is that loaning money into existence is not necessarily a bad thing. It is just being done the wrong way everywhere. Fractional bank money is backed by government debt and used too often for usurious consumer debt and margin speculation. And of course it is done in a way to benefit the banks, their favored customers, and their lapdog politicians that enable them. You know that part. The concept that I have started focusing on is how productive credit is good, and how it can be really good if it empowers all citizens. The proposed Capital Homestead Act would allow every child, woman and man to open a retirement account and receive credit of several thousand per year (actually a formula based on new growth in GDP divided by number of citizens) to invest in the dividend-paying corp of their choice. The dividends would be spendable each year before retirement. There are many in-depth explanations at cesj.org and some (admittedly not-slick) videos on Youtube. I even gave a speech at the Fed in 2012 and at the Lincoln Memorial last year which you may find interesting; only about ten minutes each. Search my name and Capital Homesteading on Youtube.

When I heard Daniel Larimer of BitShares on LTB I started thinking that perhaps the blockchain concept offers hope for a Capital Homesteading-type plan to exist in the coming "distributed autonomy" world. I also had some ideas along the lines of what you were discussing above about making sure each individual person participates and that others can't fraudulently get multiple identities to abuse the network. I'm thinking smartphone app with biometric combo such as fingerprint, eye scan and voice recognition. Hey, they say a decent percentage of people in Africa are getting phones. Easier than PCs when it comes to meeting the objective of getting every human online. My ideas aren't bulletproof but I think that the bitcoin/blockchain community could work on this problem if something like what we are discussing emerges.

Distributed autonomy and modeling systems based on consensus of what is just for humanity is looking like the answer to so much. I am trying to convince some of the older economists in my movement to consider the possibilities. I and my friends often quote Bucky Fuller "You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete.” I am starting to think this forum can do just that. I hope that all who are in any position to influence what kind of money system the world has will please consider economic justice for all. We the tech-enabled should not want to become the plutocrats of tomorrow. And keep in mind that whatever business you want to be in, it will be easier for it to succeed if there are plenty of customers with money out there.

Thanks for reading and for any constructive conversation. Be patient for replies I don't get online much due to work.