Democratic Money

This is the website of the Democratic Money Project. Our goal is to help spread the realization that democracy requires the sharing of economic power. In other words, "poor people" means people that are powerless because they control no share of the economic engine and thus they cannot help provide either for themselves or for others. A democracy requires, by definition, the abolition of poverty, that is, the abolition of economic powerlessness.

Our contribution, to that end, consists of combining Universal Basic Income (in its true, abolitionist sense) and Anarchic Currencies (currencies known today as "cryptocurrencies", since anarchic, stateless currencies first appeared as peer-to-peer distributed ledgers that employ public-key cryptography). We combine those by proposing the Democratic Money Network: a loosely-coupled network of cryptocurrencies which provide a basic income of one (1) unit of themselves per dey per person that each cryptocurrency operator can uniquely identify, using whatever resources and technologies are available for them.

Each unit of a democratic currency symbolizes a daily basic income for a human being, that is, the daily economic right to exist in dignity for every person. The responsibility of the network operators is to keep the currency system working: to identify people and to secure the system the best they can, to keep transactions flowing and balances accurate. The value or actual economic, market or "capital" value of democratic currencies is something to be built by those who decide to make it valuable, by injecting any actual value they control into it.

Thus, the goal of the Democratic Money Network is to build a collection of "crypto-currencies" (anarchic, stateless currencies) which cover the entire human population with its symbolic, purchaseable daily grant. By doing so, we create the "symbolic pipes" that can allow anyone on Earth to simply donate directly to the individual economic empowerment of all, which is what an Universal Basic Income is really about.

The daily grant of a democratic currency represents, in its unit of account, one human right to exist for a day with dignity. Anyone, at any time, anywhere, will be able redeem any number of those rights by funding them with a simple cryptocurrency buy order placed into a cryptocurrency exchange. And each funder is free to decide how much we should get for a day, and who should get it, as we can, for example, buy the currency directly from individuals and from communities we perceive to be in the most dire need.

Questions?

Check the Frequently Asked Questions (FAQ) page. If you don't find an answer to your question, you can ask it in the mailing list (see below).

List of Democratic Money Network currencies

This section will contain a list of all currencies that are part of the Democratic Money Network. To be a part of the actual network, a currency system must be able to uniquely identify human participants through a system with adequate security, such as financial-industry KYC (Know Your Customer) compliance processes, or social validation algorithms. Users will value the technological effectiveness of each individual currency network by choosing which ones they will buy.

Currently, there are no deployed cryptocurrencies that meet the requirements.

List of democratic currency tech demos

This is a list of all currencies that are not officially part of the Democratic Money Network, but that demonstrate how, technically, it would work. These currencies do not attempt to limit their income to one unit per person. Instead, they pay one unit of themselves to some other intermediary computing construct, such as a blockchain account or wallet address.

Name Symbol Status Network Contract Software Website
ACORN ACORN Beta version Telos acornaccount EOSIO Medium

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Contact

This website is maintained by Fabiana Cecin (fcecin AT gmail DOT com).