Electroneum - UBI Coin?

Why would EOS be interested in universal basic income? Hey y'all, welcome back to the channel, and today we want to talk Electroneum. Universal basic income cryptocurrency coin? Hmm, never really heard Electroneum put in that group before or category before. Um, and why do projects like EOS entertain something like universal basic income? Uh, or at least the idea is some people thought it would. So anyways, uh, let's, um, talk about real quick, if you don't know what universal basic income is. I'm sure many have heard of the term by now. Uh, it was introduced early on, very early on into the cryptocurrency space. But universal basic income means pretty much exactly like it sounds, and that is a basic income for everybody, right, that supplies your basic needs. Or the idea that as a human being, you should be granted the right to basic needs. right, automatically, almost, you know, without having to actually go out and labor for this. And the concept of that and the idea of that doesn't bode well with everybody, and for, and for good reasons, right? There are many problems with universal basic income and the idea of people don't have to work, they just receive, you know, basic income money, free money. We know pretty much nothing is free, so they're getting it from somewhere, you know, without even working. What would their purpose be? What would it be sustainable? And a variety of things. So it opens up a can of worms, right? The only time I think that universal basic income, excuse me, really becomes a, uh, quite the thing. Excuse me, I didn't mean to click on these videos. Uh, the only thing that would make, uh, I think universal basic income, uh, a, uh, sound direction to take would be something like jobs not being available due to something like automation, right? In other words, a robotics revolution, a technological revolution where technology just is so better at our jobs than us. Then you, then you have to provide these people a way of life from that new wealth, that new production, uh, because, uh, there's just— human beings have become obsolete in the workplace. Now, as futuristic and dystopian, as far-fetched as that sounds, when we look around us, uh, isn't that pretty much what the reality of the situation is becoming? Uh, when you go into Walmart and you see two cashiers at a reg— um, two, um, Cashiers, when you used to see maybe 20 or 30 cashiers or whatever, however many it was, right? When you see that, uh, and you figure out that you don't need bank tellers, you don't need, uh, cashiers, what happens to those jobs and what happens to those people? Um, and wouldn't it make more sense for robots to have those jobs? Because if I'm an employer, Uh, if I, if I have an employee, uh, in that, in that job capacity, then I have to pay their, you know, their health insurance costs. There's, uh, the dangers of them being injured on the job. It's the long work hours. It's the quality of their service, right? It's just so many things that makes machines much better at a lot of the jobs or most of the jobs human beings are doing right now. So this is an inevitable situation and it's one that's happening around us already. Now the next thing is they go, oh well, everybody will become a computer programmer or they'll get smarter, right? And hey, that might be the case and it may not be. We have to, much like how you go out and get insurance, you have to prepare for for if things don't go that way, right? And whether we can get smarter or not, you know, I haven't done enough research into that, but I can tell you some of the things I've heard. There are some ideas that certain levels of IQ aren't able to be increased no matter what you do. So the bottom line is it could be quite far-fetched to assume that much like what happened in the Industrial Revolution, human beings will be able to find jobs and create more jobs, right? And, and, and, uh, find other things to do. Uh, now I'm saying all this to say this. You take a situation like Electroneum. Uh, I was once on an article where it was showing all these universal basic income cryptocurrencies, and they were showing, uh, free tokens, and Electroneum got listed and ranked in amongst them. And I went, hmm, that's interesting. Electroneum's kind of counted in as one of these cryptocurrencies. Looking at EOS's relation to universal basic income, although it didn't directly technically happen, there were aspects in their big announcements that I think kind of lend itself over to certain universal basic income ideas. So it was still a kind of a genesis in that of the spirit of UBI in their voice token that came out, in my opinion. But I think the idea with a lot of EOS community was that universal basic income would be a mass adoption vehicle. In the United States, it's something like 60 to 80% of Americans can't afford a $500 emergency. You have something like stats like 80% of the globe is in need of universal basic income. So that means that as far as demand goes, it's very likely that you would be able to convince 80% of the globe that there is a need for them to receive universal basic income, driving demand, right? Um, now with, uh, something like Electroneum, that is giving away all these free cryptocurrencies every month, right, that they put aside. Entertain an idea like Electroneum being a universal basic income cryptocurrency. In a weird way, it's already doing that, right? If Electroneum wanted to be a universal basic income cryptocurrency, there's really nothing they would need to change, you know, in their model other than the branding of it. Which could be very important. Uh, and what I mean by that is Electroneum already has several levels of KYC to stop, uh, massive account creation and a variety of things. They already give away a fair amount of tokens free every month to users. Uh, and so, uh, the project itself, uh, Electroneum the management team, Electroneum.com, they already exist in a sustainable way outside of the cryptocurrency itself. As to say, they have no interference in the buying or selling of the cryptocurrency, and so their money is set aside to make their operations sustainable and sustain money for itself. Now, as far as the— so these are two separate functions. As far as the price of Electroneum, totally unrelated to Electroneum .com. As far as the price of Electroneum, the idea is the community decides the value of Electroneum. With free tokens already being distributed out and that having some effect on the price of Electroneum, they're already in the Universal Basic Income idea. Uh, now the problem has been as well that the focus for Electroneum has been on the East and not the West. My understanding from listening at some of Richard L.'s, uh, um, uh, conversations and, and, uh, videos, uh, has been that, uh, he felt that the West was already set in his ways, already using Visa and MasterCard, that it made more sense to target people in the East who didn't have access to bank accounts credit systems and a variety of things, and building up the electronium in these regions like it's part of their roadmap, and then the West would take notice after it becomes this big thing. This all seems very similar, can be accomplished, and probably more well branded through something like Universal Basic Income. Now the argument of course has been from some viewers of the channel and people in the community that if you don't focus on the West, that Electroneum as a project will go nowhere, and, uh, that, uh, where it will eventually dwindle out is, uh, it won't have the value backing from the West really, as the West is starting to abandon the project, and it'll be trapped in the East. Um, and, uh, I can only say that if you were to approach this universally right, then wouldn't it probably be a better way to put it in the form of a universal system, right, where this is of benefit to the East and the West? Now, how do you convince Westerners that this is beneficial to them in a well-branded way? I think universal basic income would be that, right? Um, I think you can make an argument to the West that Many Westerners are in need of universal basic income as many struggle to meet their basic needs, right? People who work hard every day are just getting by, right? They can barely take care of their families. They have, you know, a family and their jobs are just enough to get by. They're usually cash-strapped and barely making it from one day to another. And that's just the reality of what's happening with that. I think it could be an easy case made that Electroneum's part of this project is to not only just empower the economically challenged in the East, but come up with a well-branded way to do it in the West. Now, of course, in the West you wouldn't be able to brand this under the concept and the idea of, uh, the unbanked, because most people in the West can get access to ID and they can get access to bank accounts and, and, uh, uh, Basically, you know, bank accounts that are structured, you know, that haven't collapsed, and economies that are not in chaos, and a variety of things, right? So that would be a harder concept to push in the West, but you could have this work under something like universal basic income without even changing any of the system of electronum, except with a new way of marketing and a new way of branding this right now with the onset of UBI. In most ideas, it comes up to all this free money going out, no money coming in. But if we look at how Electroneum is going right now, in theory, you know, a lot of us are looking at the price of Electroneum not perform well in the cryptocurrency markets. And unfortunately, looking at Electroneum, um, you know, be pretty much left up to the community where the community decides the price. Now the problem is the community hasn't caught on to we are in control of the price and that we have to see value in this and invest more money in, right? We haven't caught on to that. And I think the only thing that could change that dynamic now is a different ideology about Electroneum, right, to a, to a, to a strong point. Because no matter how much money Electroneum the business makes and Electroneum the company makes, as long as there is no interference in the price and in these markets, as long as there's no token burns, and there's no— as long as there's no direct investment backing from Electroneum.com into Electroneum the cryptocurrency, then there's no reason for the price to go up, with the exception of us in our mindset deciding that it is of value. But we could decide that right now. Is Electroneum better as a universal basic income token coin? I think so, right? Because also what that would do as a coin, it makes it more stable money, right? Uh, even at a low price, stable money. That achieves mass adoption, I believe that injection into a finite amount of coins, a deflationary coin, would create these price value rises in Electroneum we're hoping to see just by default of more vendors accepting Electroneum, it being a more worldwide accepted cryptocurrency, and This could easily be achieved with Electroneum, but it would have to make, improvise and make some needed changes to create this new idea, right? So very interesting to think about, very interesting to think about. EOS, Telos, they are entertaining UBI. What we got with EOS's big announcement is the Voices Coin, which was a social network where you can't buy the tokens and you can't sell the tokens and they're kind of, uh, you get them, you can only earn the tokens and you can use them inside this internal market to push your posts and articles and voice to the forefront. Now the future of this cryptocurrency might hit exchanges, it might do a variety of things after it has maybe billions of users. I don't know exactly what the overall plan is, but it could be something like that. And for whatever reason, that's the direction they want to go in. But the idea that you can't buy these cryptocurrencies or sell them and you can only earn them, it is very UBI-like in idea. It has some spirit of that in it as well. So although EOS didn't come right out and become a universal cryptocurrency with their projects, they do capture some of the spirit of that. Also, I would want to relay over to that idea is that social networks work better with universal basic income ideas, and I think it works just better with the idea of what Electroneum's doing. Now, they do have plans for the gig economy, and that helps to facilitate skilled labor trade from the East to the West. But the problem with gig economy, I think, or what I— or I'll rephrase it and say what would make it better as if it kind of integrated to, into a social network with other functions and kind of just had all these things working together. I think that that would work a lot better for Electroneum in the direction that it's aiming to go in. It is already pretty much foundationally laid out to be this anyway and laid out this way. And although we may not call it that, Electroneum is still very much functioning this way. But I think with better branding in the marketing area, that it would just make Electroneum function and work so much better. But I'd like to hear what you all guys think, and, uh, if you don't agree with that idea, uh, give me an idea that you think would work better for Electroneum at the state it's at right now. Uh, keeping in mind and understanding that, uh, whatever Electroneum.com does at this point, that the market itself is up to us and where we find value in our investments in Electroneum. So all that data and information has already been factored into the markets, which means this, which means we should be getting up and buying Electroneum if we believe in it, as it's up to us. And if we're not doing that, that's the way the market's telling us that it does not value this project to a certain degree, right? And I think that's a shame. However, I do think that there are still things that can change this. Like the marketing and branding, it could psychologically change the makeup of how we see the value of Electroneum. But if we keep going the route we're going, and the idea is we have to wake up and just buy Electroneum with information we're not going to receive, because I don't think we're going to— I don't believe the market is going to receive any new information as to what Electroneum is doing, uh, than it's already got, where that be the gig economy and doing partnerships with these, uh, minutes uh, minute plans to, uh, move from person to person. So I think some marketing and rebranding might be in order. But tell me guys what you think about this and Electroneum and the future of it. Uh, I love to hear your comments. Uh, if you like concepts and ideas like the one I just underlined about what Electroneum could be or maybe a direction it could be in, you can check out our project that already does it. Bitcoinyk.com. We'll leave a link in the description. Excuse me. You can join and start to get tokens free. Uh, we're testing for a new blockchain at this point in time. So we should have our own blockchain soon. Uh, we trade on several exchanges right now and you can start participating, earning tokens, real money for you right now, free of charge. But that's all I want to say in this video. If you like content like this, Don't forget to like, subscribe, and until next time, take care.