Dailycoin is a cryptocurrency. Its symbol is XDL.
In the Dailycoin system, each person gets 1 (one) XDL virtual coin — a fungible crypto token — per day of Universal Basic Income (UBI).
All that income is minted on the spot, which is how the system can mathematically guarantee that everyone will receive exactly one extra coin per day.
The currency has a small, built-in wealth tax of 0.5% per year on all balances, computed and deducted automatically, to help with maintaining the currency supply limited in the long term.
The identity database is maintained by the guys behind the UX Network, a blockchain platform built for financial applications. It takes care of all the necessary legal compliance, and keeps your identity information private as any financial business would.
All you have to do to receive an income of XDL coins is create an account at the UX Network portal and verify it using widely-available government documents. As quick and easy as it gets.
What’s it worth?
Okay, everyone gets 1 XDL per day of income. But what is the value — the capital value, the trade value, the market value — of 1 XDL? What do we get in exchange for it?
That’s where you, me, and everyone else come in. How much do we want it to be worth, and what are we prepared to do to value it?
Once we have Crypto UBI currency systems like Dailycoin, that distribute tradeable, fungible symbols — crypto tokens, cryptocurrencies — to everyone, democratically, then we no longer have any excuses. We can literally eradicate poverty (at least poverty caused by a lack of money, of trade value, of purchasing power) by valuing, by injecting value, by purchasing those democratically-distributed, guaranteed-income tokens.
Dailycoin, as a specific Crypto UBI currency system, is conceived by its creators as a currency that is supposed to be initially valued at 1 USD. That is, 1 XDL is supposed to be valued by everybody at 1 USD.
The goal is to create an entirely voluntary stablecoin. That is, an UBI token that is valued by its community at a pre-determined rate. This value can change — it is the community as a whole, as the emergent result of individuals deciding to coordinate, explicitly or implicitly, but always voluntarily, that will decide what this target valuation will be.
Dailycoin aims to contributes with a small part of a global UBI value stream. Each Crypto UBI system will contribute part of this value. People can always sign up to receive yet another Crypto UBI income stream. The more valued Crypto UBI systems there are, the more robust, diverse and decentralized our collective solution to monetary poverty will be.
How do we pay for it?
So, how do we get at a 1 USD valuation for 1 XDL? We get there by each of us doing their part, doing what is possible for that to become a reality.
If we want to receive a basic income, we will have to pay for it.
Oh no! There is no free lunch!
Or is there?
The key is understanding that this we that is going to pay for the Universal Basic Income is not the isolated, separated, alienated, neoliberal individual. It is, rather, the entire universal process of life, through each one of us.
The current socioeconomic system is a scam. It has completely erased from our perception the notion that we actually live in an open thermodynamic system.
Earth is an open system; it is powered by the Sun. Earth is literally a free lunch system. This illusion that we live in scarcity, is just that, a convenient illusion that’s in place to maintain a hierarchical society.
Someone is capturing the energetic and material cosmic free lunch for themselves in this society. The ultimate goal of the UBI movement is to revert this by making sure that this material sunshine can translate to the basic material freedom that is the birthright of every human being — as was generally the case before this Industral Trade and Growth Society spawned from an enclosure of the Commons, instituting human material deprivation by default as the dominant culture and driver of so-called “progress”.
The “free lunch” that actually drives life on this planet is not to be obtained from the depredation of our natural habitat, but from the acceptance of a literal cosmic gift that is burning itself out for us, for the next couple billion of years or so.
The ultimate answer, thus, is that the Sun pays for it. If you follow the actual scientific chain of causality, that’s where you will find Earth’s current principal macroscopic creditor.
But how does “sunlight” translate to currency valuation?
It will be translated by our personal effort, our individual and collective creativity. And you can do that not only for Dailycoin, but for any other Crypto UBI system. And this applies to anything, not just UBI activism. All acts of distribution, of generosity, are this, at their root.
The Sun is Dailycoin’s symbol because it is the countering of one of the key propaganda narratives that is leveraged by this hierarchical society to keep people down, to keep them obedient and content with a system that enforces mass poverty via mass dispossession by default. Once you free yourself from that Matrix of propaganda, then what you can do will be entirely obvious to you, and it will be unique to your own circumstances.
Once you know that the scarcity is fake at a physical level even, once you have basic science helping you exit the gaslighting of this socioeconomic system, then you will know that this world of material justice can be built, because the matter and the energy are there, in one form or another, constantly regenerating themselves for all of us on Earth.
The material conditions are there. They have been there since the dawn of life on this planet, and they are floating in space in a place that nobody can reach and nobody can monopolize.
Maybe you have very little to give as an individual, due to your physical abilities or social position in this hierarchical dystopia. But we can organize in a myriad ways to produce value that can be injected into UBI systems or to any other form of gifting, of value distribution, be it systematic or not.
And so the whole picture emerges
Dailycoin, specifically, is a very straightforward, direct rebellion against the language of scarcity. The goal of this distributed, diverse, decentralized rebellion is to leverage blockchain technology to produce an Universal Basic Income of 1 USD of value to every person on Earth that the Dailycoin system can reach.
This is an invitation. If you want to try it with us, then, welcome aboard!