Blockchain : A rough idea: A Remix of Self-Sovereign-Identity to Yield Universal Basic Income

Blockchain : A rough idea: A Remix of Self-Sovereign-Identity to Yield Universal Basic Income

I would like to start a discussion regarding a rough idea I had bit ago. This is not a presentation of a polished idea. There is much to unpack here, and I am sharing these thoughts to get a discussion going. I am interested in peoples thoughts in general, and would appreciate both destructive and constructive criticism. For example, while I will appreciate an opinion along the lines of “that won’t work and here is why”, I am also interested in alternatives that would work and why they would.

The goal is to come up with a scheme that yields universal basic income for the citizenry and also does not require government funds but instead plans that the private sector pay for it. At the same time, that same private sector is making money too. In other words, a win-win. So here goes the draft I have:

First, imagine the government passed a law proclaiming that the only legal way for the private sector to utilize citizenry data is by buying permission to do so from the citizenry.

Now the governing body of the collective user data could be a new department within the federal government, or there could be a quasi-governmental agency, maybe a citizens union that is held accountable legally. Lets call this governing body the “Union”.

The citizenry could openly disclose any data they want. Still, that data cannot be used commercially / for profit unless it is attained via the Union, and is subject to contract terms (length of time that data can be used for, etc.).

The private sector, in order to use this data that can drive R&D and thus increase profit (etc.), must buy this data from the Union. Furthermore, the Union, via the contract terms, can decide what the limits on “freedom of use” would be, and can either ensure that certain uses are completely off limits (legally speaking), and can produce different price points for different (anonymized) data sets.

The Union would house the data securely. This data could be housed in a public blockchain whose on-chain data is the encrypted version of the citizenry data. This could be decrypted using some authentication specific to each individual?

Each person, from birth, has stake in this Union, since their data is protected therein.

The money generated from this endeavor could be used to produce a sort of universal basic income for the citizenry.

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What is the Blockchain?

A block chain is a transaction database shared by all nodes participating in a system based on the Bitcoin protocol. A full copy of a currency’s block chain contains every transaction ever executed in the currency. With this information, one can find out how much value belonged to each address at any point in history.

Author: brunogarciagonzalez

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