Tuesday, 10 September 2019

Transition to Postcapitalism







Introduction one: “Transition to Postcapitalism”

As the time for postcapitalism has begun, several problems ask for a solution. How to stop companies and multinationals from becoming too powerful? Amsterdam has FairBnB and the FairPhone. Barcelona established the right to publish data as a public good. Rushkoff thinks a solution is to give every employee shares of the company she works for. Big data, gathered in China by the BAT trinity and in many other countries by Google, do not serve the citizens directly. Sassen shows a way for citizens to behave more according to their own values, with a personal valuation system. And by valuating products and services, companies and multinationals show up in search engines only when their behavior matches the citizens` social values. Ta’eed shows that such social values can be tokenized, establishing social value coins. A UBI (universal basic income) is, according to Sassen, a logical necessity. UBI-Vault has been made to distribute such a basic income automatically. Valuations, reputation, digital money and social value coins, can best be stored, according to Sassen, on what he calls Citizens` Islands, digital islands in the cloud, secured with blockchain technology. (R. S.)

Introduction two: “to a new way of Trading and Sharing”

Money traditionally was established as an easier way of exchanging goods. Over time it has become a goal in itself, which has made it vulnerable to abuse. With the arrival of the internet, money has changed appearance: bitcoins are being introduced, but there is no stability there, nor enough connection with the coins as we know it.

A new bridge can be made between real time money and virtual money and, with a view to the future in which people will be less needed for certain jobs since robots will take over and give people more time for themselves, a new way of distributing money: a universal basic income (UBI).

As a first, privacy and security must be secured. For this Citizen’s Islands are invented: digital secure islands in the cloud. Private information, digital money and social value coins can be stored there safely and shared according to your own rules and values. Next to this, a simple automatic UBI distribution system is introduced. (S. K.)

Part 1 is about social value coins and projects, validation and reputation, and a basic income.

Part 2 is about social value exchanges, a social value distribution system and UBI as a social value project.

Part 3 is about Citizen`s Islands and Company`s Islands, how coins and reputation can be decentralized stored.

Part 4 is about how to achieve this (some say utopian) vision: Possible Pathways.

Part 5 is showing some consequences.


 Transition to Postcapitalism 1

Social value coins and projects, procurement validation and reputation, basic income.

Democracies are losing more and more power to multinationals, away from the people.

Unfortunately multi-national legislation is rare. But we have the option to decentralize power.

Power to the people? How can we achieve this voluntarily?
One option is to found communities. Another one is to let every citizen vote about how multinationals deal with social values. Let citizens vote about their products and services. Make a decentralized publication platform with ratings.

So you want to establish a reputation network?
Yes. And at the same time you also make use of social value coins. Olinga Ta'eed  brought us the vision of a social value index and social value coins. In your wallet you can have US dollar and US dollar+, the latter meaning a social value US$. You can choose a restaurant where a pizza costs 10 US$, or another restaurant, with healthy ingredients, where staff is treated well, and where environmental issues are being taken care of; here the pizza costs 8 US$ and 2 US$+.

But the other restaurant will immediately adjust their prices to include US$+ or not?
No, they cannot do that. Only customers have the option to evaluate the meals, the staff and the environment. When the social value network (a blockchain computer programme, a.k.a. smart contract) allows the restaurant to use US$+, the paying app will accept social value money.

How do we get US$+?
You can buy them (for example 1 US$+ costs 2 US$), receive them as gift or as part of your salary. Companies can contribute to social values by buying social value coins (US$+, Women`s coin, Islamic coin, UN SDG coin,  City coin, Edu coin, Carers coin, Water coin: link) and give them to their employees.

And where can we buy these social value coins?
From a non-profit exchange: the Seratio Bank.

And where does the surplus go? The extra US$?
The extra US$ goes to social value projects. For example to volunteers: people can register to be a volunteer, their volunteer hours are automatically registered. Other examples of social value projects: libraries, art institutes, hospitals, schools or a Universal Basic Income (UBI).

That’s it?
When you give a tip at a restaurant, or make a donation, you can choose that tip or donation to be used for e.g. a universal basic income, volunteers, or a social value coin. A basic income can consist of €, €+  (or $ and $+) as well as other social value coins, to be distributed among citizens worldwide.


Transition to Postcapitalism part 2

Seratio Bank and UBI-Vault     

Social value exchanges, social value distribution system, UBI as a social value project.

In part one we have seen that there are tangible and intangible assets, there are coins for money and coins for social value projects. Money coins can be exchanged in social value coins and vice versa.

To distribute coins to citizens we make use of blockchain security technology. Transactions and coins are then stored in immutable blocks. Companies and citizens can digitally transfer coins from A to B without intermediaries like banks. Citizens can use their phone apps to pay with. In case of apps or shops demanding fiat money, an exchange can be used to change coins to fiat money. Also when companies, governments, organizations and citizens are going to make a donation in fiat money to social value projects, an exchange can be used.


To buy cryptocurrencies, like Ethereum or Bitcoin, several companies offer exchange services. 

Where can we buy social value coins?
You can buy social value coins from the Seratio Bank in London.

What kind of bank is that?

What would be a clever way to contribute to these goals?
By supporting a UBI: a Universal Basic Income (UBI) contributes to 11 of the 17 sustainable development goals of the United Nations: TEDx Hilde Latour

How do you distribute a basic income to all citizens on this globe in a simple and secure way?
UBI-Vault, from the Netherlands, does exactly that, it is a UBI distribution system.

Money contributed to the UBI-Vault is automatically distributed among registered citizens.

UBI-Vault uses the Ethereum blockchain network, with the cryptocurrency Ethereum.

A sponsor or contributor to a UBI can use any commercial exchange to convert fiat money in the crypto currency Ethereum and then send it to UBI-Vault, however, the exchange fees at the Seratio Bank will be the lowest.

As for now (Sept 3th 2019) UBI-Vault is in beta, you can download the UBI-Vault app from the website and register as a test Universal Basic Income Citizen. At launch there will be just one simple distribution rule: when the amount of money divided by the amount of citizens exceeds the basic income amount (starting at € 7) every citizen receives the basic income amount, automatically sent to their wallet.


Transition to Postcapitalism part 3

Citizen`s Islands and Company`s Islands

Preferences, choices, taste and personal social values can all be stored using secure blockchain technology. When you search for a restaurant, these preferences will be included in your search.

Where are my preferences and social values stored?
A Citizen`s Island is your personal storage place on the secure blockchain.

You found a restaurant, in accordance with your preferences and social values, enjoy a meal and afterwards your phone asks you to evaluate the restaurant. Your evaluation is stored on your Citizen`s Island, and on the Company`s Island of the restaurant as well.

Which restaurant is allowed to let customers pay with social value coins?
A blockchain computer programme (smart contract) measures automatically the restaurants` reputation, provided by the evaluations of its customers. Depending on a fix threshold, the restaurant is allowed to use and advertise with social value coins. Your search app and paying app reads from the restaurant`s Company Island`s record if it is eligible to support social value coins.

Can I use my Citizen`s Island to store my own reputation, for example driving behaviour?
On your Citizen`s Island, you can activate the option to be personally evaluated as well. Unlike your social values, your evaluations will be read-only for you. You can allow any parties to see your reputation. Some parties will reward you for your info.

Where is my wallet stored?
When you pay in the restaurant, you use your phone, which shows your Citizen`s Island wallet. Your whole Citizen`s Island, your wallet included, is stored on the secure blockchain. The same wallet is used to receive money coins, social value coins, possibly your salary and/or your UBI (universal basic income). Your wallet on your Citizen`s Island is provided with an automatic exchange and allows you to pay with apps on your phone seamlessly. Your wallet can contain fiat money stored as digital money, social value coins or cryptocurrencies.

How can a company influence its reputation?          
When a company contributes to, for example, the UBI-Vault, this contribution will automatically be distributed among citizens as a Universal Basic Income, and thus contributes to 11 of the 17 sustainable development goals of the United Nations. On the Company`s Island reputation site, the reputation is adjusted accordingly. Also any other contribution of the company will be added. Your search app will label the company`s products and services in line with their reputation. Your search-results will be a match between your social values and preferences, and the companies` reputation.


Possible Pathways

To Social Value Coins and Reputation, and their Storage on a Blockchain

1 UBI 
2 China
3 Facebook
4 Arabia
5 UN /IMF /Worldbank


  1. UBI-Vault is a simple basic income distribution system: money goes in and is distributed among citizens. Money can come from voluntarily contributions by multinationals, from sponsors, and from companies without owner (AI DAOs). As many people will want to register for free money, there will be a large market for third parties. They can add extra services to the registered citizens, like for example a Citizen`s Island.

  1. From the Chinese government's Plan for Implementation, the social credit system, SCS, is due to be fully implemented by 2020. Once implemented the system will manage the rewards, or punishments, of citizens on the basis of their economic and personal behaviour. A Citizen`s Island and Company`s Island technology will be easier to implement, maintain and extend, for the collection of information. Now the Chinese Government uses big data from the BAT trinity, and monitoring people`s offline behaviour with cameras. Not all is as bad as we think, according to the article How the West Got China's Social Credit System Wrong. With Citizen`s Islands and Company`s Islands it is easy to reward citizens and companies with social value coins. The provisioning of a basic income, paid by companies (5% UBI contribution), is easy to implement by the Chinese government. See also Can Technology Help China Rebuild Social Trust?

  1. Facebook is launching two “cryptocurrencies” (link) and “it’s the investment token holders who are reaping the returns, not the Libra currency holders” (Billion-Dollar Returns: The Upside of Facebook’s Libra Cryptocurrency). Adaption of Libra will be much faster when the Libra foundation decides to contribute let`s say 50% of the returns to UBI-Vault (25%) and to social value coins (25%). It is possible for a “Social impact partnerto become a founding member of the Libra Association. The Libra association can ask its members to contribute 5% of their revenue to UBI-Vault and social value coins.

  1. Arabia. In the whitepaper of the Seratio Bank we can read on page 35:
a.       “Arab values will be defined by financial instruments for good”. The Arab countries can not only develop such instruments but also make them available to the world.

  1. UN /IMF /Worldbank. Such international organizations can immediately support social value coins, a UBI, and privacy with Citizens` Islands.

 Consequences

A transparent valuation system for companies and citizens will allow the shift in importance from the availability of money to social values. As earthly resources are being transformed by citizens and machines in a basic income and basic services, available as money coins and social value coins, citizens will be freed from the slavery of “bullshit jobs”.

Citizens` Islands will be a trigger for alternative search engines, social media platforms and retailer organizations. Citizens will be able to control their own data, and to use decentralized social media. They will be able to buy goods from retailers corresponding to their social values.


R. Sassen 

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