Surely in recent years you have heard about the Universal Basic Income.

Since March with the arrival of the coronavirus and the social and economical impacts that it has caused, it is a debate that has reopened and that many see as the solution to these times of economic uncertainty

Let’s talk about the Basic Income

The Basic Income is an unconditional monthly income that the Governments grant as a right to their citizens, without any conditions. The point is to guarantee a minimum income to citizens and reduce social inequalities.

That is, the Basic Income does not take into account whether you are poor or rich, whether you are working for a salary or not, it is a right for you as a citizen to receive this income from the Government

There are people in favor and people against it.

  • Those in favor argue that:
  • It would give citizens more freedom to take care of the family, go back to study, start a business.
  • Citizens would not have to accept precarious subsistence jobs and would have a greater margin of time to find the job that best suits them.
  • Therefore, they would manage their job development better.
  • It would eliminate the trap of welfare benefits that are lost when finding a job.
  • The government would spend less than with the traditional social welfare system since the rest of the aid would be abolished.
  • Basic income would help in times of recession and economic crisis like the one we are experiencing, to stabilize the economy.
  • It would encourage consumption since citizens would have more incomes.

 For their part, people who are against say that:

  • Inflation would increase as there would be an increase in demand for goods and services.
  • This would not imply an improvement in the quality of life due to the high prices.
  • People who would not have other supplementary income would continue in the circle of poverty.
  • Social spending would skyrocket and would not be affordable by all countries.
  • It would discourage job search and weaken the labor market with fewer available people and higher unemployment.
  • What makes our project different from the RBIU Universal Basic Income?

The Basic Income of Universal Exchange-RBIU is a monthly income that anyone in the world from the age of 14 receives electronically and through an electronic currency called λóγος (logos).

You receive the Basic Income of Universal Exchange-RBIU in an electronic wallet that you can access through a computer or an App on your mobile for free.

Depending on the country you live in, you will receive a different amount. This amount is defined according to the amount that each country determines as the poverty line. With the Basic Income of Universal Exchange you receive the equivalent of this amount monthly in λóγος (electronic currency).

What can you do with this amount? 

Exchange goods and services anywhere in the world through the RBIU App.

You can use λóγος as a bargaining chip as long as the person you are trading with accepts it. Then that person can use those λóγος that they have received to make other exchanges, thus creating a value chain between people.

The λóγος are free, that is, they cannot be purchased with euros, dollars or other official currencies.

They are generated through blockchain technology and the Universal Exchange Basic Income Bank is the one that creates these electronic currencies.

The value is given by people through trust and the will to create a more just and accessible monetary system for all.

What are the benefits of the Universal Exchange Basic Income?

The λóγος do not have to be bought with official currencies, therefore, it does not represent an economic expense for the states or organizations that want to use it.

It is used to make exchanges which favors economic activity and personal initiatives.

You just need a mobile to start receiving and using it.

Now you know more about the Basic Income of Universal Exchange and its benefits, if you want to contribute to reduce poverty and support an economic system in which everyone can participate sign up and help keep the project going.