Time. Limited, constantly generated, decentralized and fair medium of exchange.
Creating a "Universal Basic Income" (UBI) based on the current monetary system is a mistake, and its effects will predominantly be negative (inflation, inequity, demotivation), as welfare policies are not a solution.
However, if we construct it as a standalone architectural tool, this project, which essentially constitutes the "monetization of time" and "liquidization of resources," represents a unique window of opportunity for the complete re-architecting and rapid reconstruction on correct economic foundations, without major risks or dysfunctions, of the monetary, fiscal, and institutional systems of Romania (and beyond), with great benefits for the citizens (and for the communities/nations) that embrace it. Society needs a fair medium of exchange that is created and distributed.
To achieve this goal, the implementation of UBI must necessarily be based, in addition to the principles mentioned by the initiators—"universal," "individual," "unconditional," "sufficient"—on other equally important principles, at least regarding "independence," "parallelism," "equity," and "pre-allocation."
The monetary issue is a decisive one for society. Let us not forget that "currency" is the blood that irrigates the economic system, and as long as the blood is sick, the entire organism suffers.
However, if we construct it as a standalone architectural tool, this project, which essentially constitutes the "monetization of time" and "liquidization of resources," represents a unique window of opportunity for the complete re-architecting and rapid reconstruction on correct economic foundations, without major risks or dysfunctions, of the monetary, fiscal, and institutional systems of Romania (and beyond), with great benefits for the citizens (and for the communities/nations) that embrace it. Society needs a fair medium of exchange that is created and distributed.
To achieve this goal, the implementation of UBI must necessarily be based, in addition to the principles mentioned by the initiators—"universal," "individual," "unconditional," "sufficient"—on other equally important principles, at least regarding "independence," "parallelism," "equity," and "pre-allocation."
The monetary issue is a decisive one for society. Let us not forget that "currency" is the blood that irrigates the economic system, and as long as the blood is sick, the entire organism suffers.
Octavian Bădescu - economist, entrepreneur, author of the book “Time – Resource and Currency”
what can we do?
The key to the equity of a community's monetary system, as well as the guarantee of valuing people's lives, lies, on one hand, in recognizing the reality that throughout their entire existence, the members of any community, regardless of its size, engage—through their economic interactions—in a "exchange of time," "resources," and "reciprocal utilities." On the other hand, it lies in implementing the necessity for individuals to regain control over the medium of exchange, becoming, in practice, the sole generators of monetary mass, by their very existence, gradually, permanently, proportionally, and simultaneously with other people.
The economic model of "time monetization" is based on the possibility for each person interested in participating in this model to have, in a personal account, the accumulation of a monetary representation of the time in which they live, are useful to others, and use the resources of other people. It implicitly consists in the freedom of people to engage in paid economic exchanges, based on the availability in the account, the total monetary mass of "convertible minutes" being determined exclusively objectively, through the passage of time.
The economic model of "time monetization" is based on the possibility for each person interested in participating in this model to have, in a personal account, the accumulation of a monetary representation of the time in which they live, are useful to others, and use the resources of other people. It implicitly consists in the freedom of people to engage in paid economic exchanges, based on the availability in the account, the total monetary mass of "convertible minutes" being determined exclusively objectively, through the passage of time.
the only solution for correct monetization of your time: MINUTE BANK
how do you find out how much money you have?
you become a member of the community
You create your account on the website and thus you can find out daily how many "convertible minutes" you have. You can also trade goods and services with other community members.
daily update of the balance available in the account
Based on initial funds, daily automatic accumulations and exchanges with other community members, you always know how many "convertible minutes" you have.
you can trade with other members
Money is a commodity. If two parties agree to make a transaction valued in "convertible minutes", the exchange can take place.
Find out how much real money you have and trade with it!
The evolution of the global stock of time
The growth rate of the monetary mass far exceeds that of the past time stock growth.
