How Bitcoin Can Help In Paying Universal Basic Income

The utopian idea of universal basic income — which has been with humanity for at least half a millenia — can become real with digital currency (Bitcoin).

Here Are Some Examples:

1. Inflation. When calculating the value of UBI payments, it is important to constantly monitor the change in the purchasing power of money, taking into account the actual consumer basket. Today, data for calculating the consumer price index is manually collected; that is, workers go shopping and write out prices. It is slow and expensive.

Solution: Using Bitcoin’s Blockchain will make the collection of information almost instantaneous, increase the objectivity of the data and eliminate errors in the calculations. Blockchain also allows you to change the position of goods and services for monitoring based on actual consumption by the population.

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