Taiwan’s Legislators Pioneer UBI-Crypto Fusion: Battling AI Job Loss with Blockchain
Introduction: A New Era for Social Safety Nets
In a groundbreaking discussion, Taiwan’s lawmakers are exploring how to blend universal basic income (UBI) with cryptocurrency and blockchain. This comes as artificial intelligence (AI) threatens millions of jobs. The talks happened at the Legislative Yuan, led by Legislator Dr. Ko Ju-Chun. Key players included UBI Taiwan and Dr. Sarath Davala, head of the Basic Income Earth Network (BIEN).
The goal? Build a strong safety net for the future. Traditional welfare systems are slow and costly. But blockchain offers fast, clear, and cheap ways to send money directly to people. This could change how Taiwan – and the world – handles poverty and job loss.
The AI Job Crisis: Why UBI Matters Now
AI is moving fast. It can do jobs from factory work to law advice. Past tech shifts hit manual jobs. AI hits everyone: accountants, lawyers, even bosses.
In Taiwan, the numbers are clear:
- Real wages flat for 20 years.
- Stock market up 5 times.
- Housing prices tripled.
- Wealth gap at record high.
Young people without assets feel “financial vulnerability.” Rich tech firms grab wealth. Most people struggle. UBI gives cash to all, no strings. It lets people chase dreams, not just survive.
Taiwan’s Economic Wake-Up Call
Taiwan leads in tech. But inequality grows. The old social deal – work hard, get paid – is breaking. AI makes it worse. If machines do the work, what defines human value?
UBI Taiwan shared data at the meeting. It shows UBI is not a dream. It’s a fix for stability and dignity. With AI rising, talks shift from “should we?” to “how?”
Blockchain: The Perfect Tool for
Old welfare has big problems: high costs, fraud, red tape. Blockchain fixes this.
Key benefits:
- Decentralized: No middlemen. Direct from source to wallet.
- Transparent: All see where money goes. No hiding.
- Immutable: Records can’t change. Builds trust.
- Low cost: Tiny fees vs. banks.
- Borderless: Works worldwide.
Imagine UBI in crypto. People get stablecoins monthly via smart contracts. Auto-payments, no checks. Pilots like GoodDollar use blockchain for UBI-like aid. Taiwan could lead with
Philanthropy Meets Crypto: A Growing Trend
Charity groups team up with blockchain fans. At Asia Blockchain Summit, Tzu Chi Foundation’s Master Cheng Yen spoke. She linked blockchain’s equality to charity values.
Both aim: Get help to needy fast. Blockchain cuts waste. For UBI, this means teams of government, NGOs, and crypto firms. Not just state job – a people-powered move.
Global Context: Taiwan Sets the Pace
UBI tests happen worldwide. Alaska pays oil cash. Finland tried UBI. Crypto adds power. Projects like Circles UBI use tokens. Worldcoin eyes iris scans for UBI.
Taiwan’s edge: Strong blockchain scene. Home to exchanges, devs. Legislators see crypto as UBI enabler. This could spark pilots: Monthly crypto grants to citizens.
BIEN pushes UBI global. Next congress at UPenn, July 2027. Taiwan joins the front line.
Challenges and Next Steps
Not easy. Crypto volatility? Use stablecoins like USDC. Tech access? Taiwan’s high internet helps. Regulation? Lawmakers discuss now.
Steps ahead:
- Pilot in one city.
- Partner with exchanges.
- Study wage, spending effects.
- Scale if works.
This builds human-AI world. UBI frees creativity. Blockchain makes it real.
Why Taiwan Leads in
Taiwan faces AI fast. Proactive leaders. Active groups like UBI Taiwan (since 2017). They push research, tests, campaigns for fair future.
Outcome? Model for Asia, world. Borderless UBI via blockchain fits global crypto boom.
Conclusion: Redefining the Future
The Legislative Yuan talk marks shift. From debate to design.
Watch Taiwan. It may change welfare forever. What do you think? Share below.
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