Universal Basic Income and Central Bank Digital Currencies

Universal basic income (UBI) is increasingly viewed as a tool for transitioning to government-controlled cryptocurrencies, specifically Central Bank Digital Currencies (CBDCs). An example cited is Thailand's announcement of giving free money to 50 million citizens in CBDC form, highlighting the ease with which governments could control financial transactions through such systems. Critics argue that UBI incentivizes dependency and reduces personal financial responsibility, as evidenced by recent studies showing that recipients of free money tend to work less and go deeper into debt. This trend suggests a potential future where CBDCs replace traditional currencies, enabling unprecedented levels of surveillance and control over individual financial activities.