From UBI to OBI – Open Basic Income

I think we need a new vocabulary to distinguish between Universal Basic Income – as form of compulsory (for the tax payer) state-mandated welfare system and – and self-sustaining incentive-driven free-market, voluntary, private sector supported income network systems.

I propose OBI: Open Basic Income for these bottom up systems, Open as in Open to all an opt-in-opt-out basis, rather than Universal, as in compulsory top-down centrally controlled wealth re-distribution schemes.

There is a world of difference between the two ideas. One of which enslaves; the other of which empowers. One of which centralises power, the other of which decentralises access to opportunity. We would be well advised to distinguish between the two.

For a couple of examples of some of the (many) Open Basic Income systems ideas out there at the moment, take a look at:

• Circle UBI – a decentralised crypto basic income system
• This way to use an existing market inefficiency – South Africa’s BBEEE scheme – in a slightly less inefficient way.