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  •   July 24, 2021

The Digital Currency Empowerment Network (DIGICEN.ORG) works to advocate for Digital Economic Inclusion through Universal Basic Income (UBI), Guaranteed Income, CBDCs, Internet Access, and Democracy Tech.

Digital Economic Inclusion:

DIGICEN defines Digital Economic Inclusion as ensuring everyone has access to the variety of tools necessary to participate in the economy and society, while encouraging democratic participation and social entrepreneurship. The necessary tools include: a foundational income floor, such as a Universal Basic Income, access to Internet-enabled Devices and Apps (Universal Access), and access to Democracy Technology, such as Voting Helper Apps.

What is Universal Basic Income?

A Basic Income is a periodic cash payment unconditionally delivered to all on an individual basis, without means-test or work requirement. Here are the 5 Characteristics of Basic Income:

  1. Periodic—It is paid at regular intervals (for example every month), not as a one-off grant.
  2. Cash payment—It is paid in an appropriate medium of exchange, allowing those who receive it to decide what they spend it on. It is not, therefore, paid either in kind (such as food or services) or in vouchers dedicated to a specific use.
  3. Individual—It is paid on an individual basis—and not, for instance, to households.
  4. Universal—It is paid to all, without means test.
  5. Unconditional—It is paid without a requirement to work or to demonstrate willingness-to-work.

Universal Basic Income provides an income floor for all, above the poverty line.

What are CBDCs?

Central Bank Digital Currencies (CBDCs) are types of digital money that is issued by a central bank. Several CBDCs are using a technology called blockchain, whereas the CBDC that DIGICEN advocates for are not cryptocurrencies and do not use blockchain, instead they are centrally controlled. A CBDC complements the use of cash and bank deposits rather than replacing them. Safe money accounts at the central banks will be a strong instrument of financial inclusion with the convenience of a smartphone app. While DIGICEN advocates for CBDCs that do not use cryptocurrencies or blockchains, DIGICEN advocates against the use of cryptocurrencies for a variety of reasons, under the guise of market and technological disruption: 1. They are a gambling-like risk. 2. They resemble elements of cults and religions. 3. They increase wealth inequality. 4. They have a history of encouraging violence and artificial scarcity. 5. They corrode existing institutions and erode trust in existing institutions by attempting to replace them entirely. 6. They encourage illegal activity. Read more here.

Democracy Tech:

The Digital Currency Empowerment Network (DIGICEN.ORG) works to encourage the new development of Democracy Technology, to encourage participation in modern democracy. Have a look at the websites and apps on 'Democracy Tech' here.

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