Basic income project using NuBits

Hello everybody!

I’m an investor and a cryptocurrency enthusiast living in California. I have recently become very interested in NuBits and the problems with Bitcoin it seeks to address. I came up with an idea to promote the NuBits network (that is to say, others may have come up with this idea as well, but I am committed to seeing it through). It would involve distributing free NuBits as a worldwide income supplement via a not-for-profit organization/trust.

To be clear, I’m not proposing the creation of extra NuBits for this special purpose, I just mean that donations collected would be converted to NuBits and distributed to recipients who enroll. (Recipients might also receive a small amount of Peercoins, NuShares, or other cryptocurrencies, but that would be something to be decided later on by NPO trustees or the equivalents thereof.)

Yes, this is a lofty goal. Such a project would involve tremendous time, money, and effort, but it will be worth it if executed correctly because it would benefit NuShares holders as well as those living in poverty.

I have been doing lots of reading & writing pertaining to my idea, and I am serious about moving forward. I have written a few pages of a proposal with a tentative action plan, but it is still in the early stages. I will be attending Inside Bitcoins 2015 later this year (I attended the one in Vegas last year, and it was a pretty exciting experience), so my hope is to have the ball rolling on things by then; that way I’ll be able to speak confidently with fellow attendees about NuBits/NuShares and the basic income project’s initial progress.

Here is a short, tentative mission statement, which is two-fold:
(i) To provide a nongovernmental income supplement to any people who want to participate.
(ii) To bring cryptocurrency-based financial services to “unbanked” persons.

I definitely want to work with active participants in the Nu community such as yourselves, so DM me at any point if you would like to get involved and/or discuss the plan.

Other ideal partners down the road might include:
(a) Kiva, a not-for-profit organization that enables peer-to-peer microloans across the world, could help facilitate the enrollment of fund recipients.
(b) Global Basic Income Foundation aims to spread the idea of a basic income and develop possible ways to implement it.
© Mozilla is trying to bring free (ad-supported) mobile data to developing nations.
(d) Bitsoko is a startup that recently won a grant from the Bill & Melinda Gates Foundation to help bring digital currency services to Africa.
(e) Google – aside from its many outreach efforts and technological innovations – has an Inactive Account Manager tool that could be useful for tracking the death of fund recipients.

I have a few questions for you guys:

  1. Do you have any suggestions or input for helping to make this project a success?
  2. Nu is still technically in beta mode according to the website disclaimer; what do you think it might take to bring the Nu network up to Bitcoin standards? In other words, what do you think it might take for the people who trust Bitcoin’s network to put an equal amount of trust into the Nu network?



Hi @brianbbad, welcome to the Nu community. We’re glad to have you here.

I think the general mission of your project is admirable. Basic income discussions are beginning to pop up across numerous Western governments and I think it will become a very prominent issue in the coming decades as automation of jobs reduces the required supply of global labor. However, one of the main problems with establishing your own operation is determining eligibility criteria for people who want to participate. Who receives benefits? Free money is of interest to everyone on the planet.

For that reason, I would strongly suggest approaching one of your proposed partners to see if they would be receptive to using NuBits in regards to your first mission statement point. You could easily carve out a role with any one of those organizations as a subject-matter expert. Each of those organizations has the existing infrastructure and expertise to determine which people are most in need of aid. As a side note, we’ve emailed Kiva before but didn’t receive a reply, likely due to our relative obscurity. They would be an excellent potential partner with NuBits because NBT are so easy to use.

The second mission statement point “(ii) To bring cryptocurrency-based financial services to “unbanked” persons.” is more plausible to do on your own. You could invest in the creation of better mobile wallets, better education for citizens who reside in largely unbanked nations, or any number of activities. I’m sure there will be lots of ideas in this thread from other shareholders.

Time. We have a community filled with passionate and talented contributors, and the $1.00 peg has held since September 2014. We’ve used the term “proof-of-stability” before to describe an implicit form of validation on our network; the longer NBT stays at $1.00, the more credibility it will have. We are eagerly awaiting September 23, 2015, when we become the first decentralized digital currency in history to reach one year of stability.

As you’ve likely noticed, the cryptocurrency community is largely filled with speculators at this point in time which has prevented NuBits from breaking through to more widespread awareness. NuBits are more appropriate for just about any real-world currency function you can think of as compared to Bitcoin, and we’re hopeful that that message will propagate over time.

Continuing the discussion from Basic income project using NuBits:

Thanks for your reply, @tomjoad.

[Edit: I originally proposed that anyone could receives benefits, but now I think that I need to fine-tune this project’s goals.]

1 Like


@assistant tip 1 @brianbbad

Hi @brianbbad

You were just sent a tip of 1 NBT by desrever

Please send a Private Message to @assistant with the first word ‘register’ to receive the tip and view your details

Thanks man! Much appreciated!

@brianbbad You might find this interesting:

Inspired by an idea that first appeared on

This proof-of-individuality is perfect for unconditional basic income.