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Martin Köppelmann: Circles – Creating Universal Basic Income Economies for Everyone

Nov 10, 2020

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Circles UBI is a blockchain-based Universal Basic Income created to promote local economy within communities. It was recently launched on Ethereum’s POA network.

The idea is to create a parallel economy by forming trust lines within Circles. Anyone who joins Circles receives a basic income regularly, without conditions. And the more connected your community is, the more valuable your Circles become. Also it is fully decentralized. What makes Circles special is that it doesn't market itself to anyone specific in crypto. It positions itself as an ecosystem and protocol that can help anyone create and promote a local economy within their local community. In the current economic crisis, this is a hugely powerful tool for societies to utilise.

Martin Köppelmann, CEO of Gnosis, joins us for his third appearance on the show. He is also the creator of Circles and chats to us about why he believes the world needs this, and how the project works.

Topics covered in this episode:

What Universal Basic Income (UBI) is and Martin’s interest and support of it
Pros and cons of funding UBI through taxation
Explaining Circles’ decentralized UBI
How ‘personal tokens’ work in Circles
Issuance and trust connections
Dealing with sybil attacks
On throughput limits
Conditions attached to your account
How UBI keeps up with inflation
Getting started with Circles
Attracting non crypto users and driving demand
Can Circles move onto Layer-2 - UX Design choices
Learn more about Circles and get involved

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Algorand: Learn how to start building on Algorand – Free webinar on November 17th - https://algorand.com/epicenter

This episode is hosted by Brian Fabian Crain & Sunny Aggarwal. Show notes and listening options: epicenter.tv/365