Economic Inclusion Hub

Economic Inclusion Hub

  • mdo  Admin
  •   Hubs
  •   August 10, 2021

The Economic Inclusion Hub is a part of DIGICEN that focuses on specific topics regarding Economic Inclusion. The topics generally relate to Economics and Money or Cash. The specific topics are as follows: the Central Bank Digital Currency (CBDC), Universal Basic Income (UBI), Guaranteed Income, The Child Tax Credit (CTC) & Child Benefit Programs, Cash-transfers & Basic Income Pilots, The problem of Wealth Inequality, The reasons to avoid Cryptocurrencies, Discussions on anti-poverty measures that support SDG1, the Gig Economy, and issues with Pay-walls.

The goal of the Economic Inclusion Hub is to increase discussions related to the topics of Economic Inclusion in a modern digital world. To educate and empower citizens to escape poverty and then be able to participate in the modern digital economies. According to worldvision.org and the World Bank, recent estimates for global poverty are that "689 million people, live in extreme poverty". In the U.S. "38.1 million people live in poverty" (2018 census). Before someone has the opportunity to purchase a smartphone or internet-enabled device and other basic necessities they require the income necessary to do so. Income can be obtained through jobs, gigs, and/or via cash-transfer programs such as a Basic Income policy, a tax credit policy (like the CTC), and with the help of tools such as a CBDC.

The Economic Inclusion Hub will create and publish content related to the topics, will attempt to increase discussion related to the topics on social networks, and will encourage other individuals to participate in the discussion topics. How can you participate? Simply use the hashtag #EconomicInclusion on Twitter and other social networks and tag us if you wish.

Topics:

Central Bank Digital Currency (CBDC):

Digital Currency issued by a central bank. DIGICEN advocates for CBDCs that 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.

Universal Basic Income (UBI):

A Basic Income is a periodic cash payment unconditionally delivered to all on an individual basis, without means-test or work requirement. Universal Basic Income provides an income floor for all, above the poverty line. https://ubi.earth/comprehending-universal-basic-income

The Child Tax Credit (CTC) & Child Benefit Programs:

https://digicen.org/child-tax-credit-basic-income An income floor or Basic Income policy can come in the form of cash-transfers sent directly to recipients. One recent program that is helping eradicate poverty is the Child Tax Credit which is a cash-transfer program that is working towards the SDG1 in the U.S. by sending cash directly to families with children, with a variety of benefits relating to social cohesion already being seen. Learn more about similar programs in other countries here: https://en.wikipedia.org/wiki/Child_benefit

Cash-transfers & Basic Income Pilots:

https://basicincome.stanford.edu/experiments-map/ - Cash-transfers, Basic Income programs, UBI, and/or access to cash through CBDC's can break down barriers to entry and push back against regression by spurring on new community and purpose-driven projects. Beyond increasing social cohesion, this can create a multiplier effect in the formation of new economies and spur on Social Entrepreneurship projects. Let's talk about Pilots and projects like MGI.

The problem of Wealth Inequality or "Excessive Wealth Disparity":

The reality is that Wealth Inequality or Excessive Wealth Disparity does affect other people and can lead to situations that affect people and institutions at large. Wealth inequality undermines social cohesion, and increases political and social tensions. It can also lead to instability, conflict, and crime that can potentially reach every member in a society, even if they feel distant or unaffected by it. As human beings, we rely on healthy societal relationships and benefit from social cohesion.

The reasons to avoid Cryptocurrencies:

This topic covers the many downsides and reasons to avoid cryptocurrencies. The current crypto-economies foster a culture of gambling that doesn’t exactly encourage altruism. Instead, it fosters apathy or indifference towards issues of increasing wealth inequality and poverty facing their fellow citizens. Encouraging these new investments is also encouraging the replacement of existing financial and social systems as more people, networks, and developers jump on board. Learn more here.

Anti-poverty measures that support SDG1:

Digital Economic Inclusion - https://digicen.org/sdg1-and-digital-economic-inclusion - Digital Economic Inclusion cannot work without a commitment to diversity and a commitment to helping diverse groups have equitable access. 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. These necessary tools include: a foundational income floor, such as a Universal Basic Income (UBI); freedom to use the CBDC; access to internet-enabled devices and apps (Universal Access); and access to Democracy Technology, such as Voting Helper Apps.

The Gig Economy without UBI:

Discussions on the Gig Economy. This topic relates to using the internet to find jobs, work, gigs, and finding income online when there is no UBI present. It involves using the internet to find Freelancing work, Gig Work and talks about the Gig Economy. It talks about taking donations for publishing content. It also discusses Pay-walls and the problems with The Creator Economy.

What is Economic Inclusion?

Economic Inclusion:

The idea that everyone can participate in the economy making for a robust economy. Before someone has the opportunity to purchase a smartphone or internet-enabled device and other basic necessities they require the income necessary to do so. Income can be obtained through jobs, gigs, and/or via cash-transfer programs such as a Basic Income policy, a tax credit policy (like the CTC), and with the help of tools such as a CBDC.

Hub Goals

The Economic Inclusion Hub will create and publish content related to the topics, will attempt to increase discussion related to the topics on social networks, and will encourage other individuals to participate in the discussion topics.

Want to join in? How can you participate? Simply use the hashtag #EconomicInclusion on Twitter and other social networks and tag us if you wish.


Tags:
money economic inclusion hub economic inclusion hub ubi ctc basic income universal basic income child tax credit sdg1 poverty gig economy pay-walls economics economy cash finance cbdc central bank digital currency digital currency cash transfers basic income pilots wealth inequality inequality income inequality united nations un democracy technology anti-poverty digicen



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