Description
Circles UBI is a decentralized project on the Ethereum blockchain aimed at distributing a universal basic income (UBI) through its digital currency. It promotes a novel economic model based on mutual trust, allowing users to issue and exchange their own currency to stimulate community engagement and economic activity. Leveraging DeFi principles and smart contracts, Circles ensures an automated, transparent, and equitable wealth distribution process. Unlike traditional financial systems, Circles operates without central authority, relying on a peer-to-peer network to maintain stability and encourage local trade networks. With an inbuilt inflation target of 5% to prevent hoarding, Circles fosters circulation and economic interaction among its users, envisioning a global UBI system that is accessible and controlled independently by its community. This approach not only aims to address socio-economic challenges like income inequality but also showcases blockchain's potential in creating inclusive financial solutions.
Circles UBI is a decentralized project on the Ethereum blockchain aimed at distributing a universal basic income (UBI) through its digital currency. It promotes a novel economic model based on mutual trust, allowing users to issue and exchange their own currency to stimulate community engagement and economic activity. Leveraging DeFi principles and smart contracts, Circles ensures an automated, transparent, and equitable wealth distribution process. Unlike traditional financial systems, Circles operates without central authority, relying on a peer-to-peer network to maintain stability and encourage local trade networks. With an inbuilt inflation target of 5% to prevent hoarding, Circles fosters circulation and economic interaction among its users, envisioning a global UBI system that is accessible and controlled independently by its community. This approach not only aims to address socio-economic challenges like income inequality but also showcases blockchain's potential in creating inclusive financial solutions.
