Since Satoshi Nakamoto published the Bitcoin Whitepaper, one of the most exciting possibilities of the new technology is the possibility of transfering value to people in need around the world.

Because of the uncensurable, transnational and low fee characteristics of criptocurrencies, it is only natural that people who believe in #BasicIncome are trying to use the technology.

We researched and found 4 current projects working with the blockchain technology for the collection and distribution of cash based assistance.

MannaBase : Registered as a US based non profit, Mannabase is a project that has developed its own blockchain technology to promote the transparency of the distribution of funds. Selected users from all over the world receive their tokens and liquidate it in exchanges in their home countries. The token has an inflationary economics. According to their site: “Manna is distributed weekly as a basic income to all verified users on an ongoing basis. The amount distributed is equal to 3.5% of the circulating money supply per year”.

Circles is a US based company associated with the venture builder ConsenSys and which uses the Ethereum blockchain. Its token economy is based on the creation of custom tokens for each new member, and to have liquidity in their token, they have the option to trade it with each other. As every user increases the supply of tokens in the overall economy, the Circles token economics is also inflationary.

Swift Demand is a project that is transitioning torwards working with the Blockchain technology. Each new user have 700 Swifts per week. However, the maximum cap will be 100 Billion tokens, with a 5% annual inflation. Users can buy products and services offered in the network in exchange of swifts.

Give Direct is the first project working with Basic Income + Blockchain which is actually being developed from a developing nation (Ghana). They do not have their own token economy, as Stellar (XML) is the medium of transfer. To have liquidity on the tokens, beneficiaries use a wristband with NFC to make purchases or withdraw money from vendors which have a smartphone app.

Why we need something different?

I have been thinking a lot about how the blockchain technology can solve the problem of Basic Income and cash based assistance distribution. I think the current projects are not using the blockchain to its full potential regarding transparency and decentralized management. In addition, as the poorest people in the world do not have access to the internet regularly nor knowledge about cryptocurrencies, the last mile delivery method has to be reinvented as well.

I already announced to my friends and the community that I intend to create a new Blockchain project and do an ICO starting on February 2019.

Here are the main innovations that we want to bring:

We need to reinvent the last mile delivery experience . The solution needs to be mobile first, work with bad or no internet connections, use biometrics to identify users and allowing them to access their accounts in third party hardware, if they do not have a smartphone.

. The solution needs to be mobile first, work with bad or no internet connections, use biometrics to identify users and allowing them to access their accounts in third party hardware, if they do not have a smartphone. We need to create a new method of governance and Decentralized Management of funds . One of the most fascinating uses of blockchain is for the creation of DAOs (Decentralized and Autonomous Organizations). I think we can incorporate this self-management capabilities and provide the donors with total and real time transparency and accountability.

. One of the most fascinating uses of blockchain is for the creation of DAOs (Decentralized and Autonomous Organizations). I think we can incorporate this self-management capabilities and provide the donors with total and real time transparency and accountability. We need to have a prime directive to redistribute funds to the entire humanity : Imagine if for every $1 distributed through Bonnum, $0.01 was destined to a fund that would be redistributed to the poorest people all over the world. I am calling this feature the “prime directive”.

: Imagine if for every $1 distributed through Bonnum, $0.01 was destined to a fund that would be redistributed to the poorest people all over the world. I am calling this feature the “prime directive”. Powered by a third generation Blockchain : 3rd Generation Blockchains are designed to correct many of Ethereum´s problems, like scalability, interoperability and the cost of transaction fees. We have good contacts with the EOS´ and Cardano´s communities and by creating a project based on those new blockchains we will take advantage of their innovations.

: 3rd Generation Blockchains are designed to correct many of Ethereum´s problems, like scalability, interoperability and the cost of transaction fees. We have good contacts with the EOS´ and Cardano´s communities and by creating a project based on those new blockchains we will take advantage of their innovations. A deflationary token economics: For what we understood, the other projects have an inflationary token economics. In other words, the more users and transactions are done, the more tokens are added to the network. This makes the value of every token to decrease over time. In our case, we intend to burn 0.1% of tokens in every transaction. That way, the more Bonnum Network is used, the less tokens available there are. In addition, Bonnum token holders can vote for the geographies they want to distribute the tokens from the Prime Directive Fund.

These are just a few of the ideas we are developing as we write the whitepaper of Bonnum Network. If you want to join the discussion, please join our Telegram Group: https://t.me/joinchat/GaSBshIlQNSYvnWAslIaqA