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.
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.
Characteristic | Official Fiat Currency | Cryptocurrency | Complementary Currency | Convertible Minute |
|---|---|---|---|---|
Technology | Digital and physical | Blockchain | Simple, local | Simple digital |
Initial distribution | Through central bank policies | Unequally distributed | Controlled by the organization | Equitable |
Generation | Centralized printing / issuance | Mining, staking or ICO | Through local issuance | Based on time lived |
Accessibility | National and international (through currency exchange) | Limited (technologically or by knowledge) | Local, limited | Universal |
Volatility | Politically controlled, but can be unstable at times | High | Very low | Low |
Monetary function | Official standard for all monetary functions | Speculative, reserve | Local exchange | Exchange, measure, store of value |
Environmental impact | Moderate (physical production, logistics, banking IT) | High (energy, hardware, etc.) | Low | Very low |
Regulation | Fully regulated by national and global authorities | Partially regulated | Relies on the existing legal framework | Proposes a new monetary architecture |
Core philosophy | Economic stability and control through institutions | Decentralization, individual freedom | Solidarity, local economy | Equity, time as a fundamental value |
