Richard D. Wolff

Basic Income Bank based on blockchain! The essence of the project is to create an Internet based bank that emits its own crypto currency for basic income. The banks miners will receive percentage remuneration from the fiat profit of the bank in each block. The bank will pay the miners with the emitted crypto currency while at the same time it will accrue its fiat equivalent in the form of a monetary board for the crypto currency. Thus its entry and exit to and from crypto currencies ecosystem can also be done using the fiat currency, not only through Bitcoin. The crypto currency that will be emitted by the bank will be an incorporated(demurrage) tax equal to inflation and that tax will be redistributed equally among all customers/ users of the bank. The purpose is to achieve a basic income for consumers, thanks to which the bank will begin to acquire a larger market share. The idea behind is that the bank can operate freely in both the crypto and the fiat world. It should be compatible to install on any site that uses a payment system and enter the market as a competitor to PayPal. The crypto currency should also be subject to “mining” through the hosting. There should be a p2p crediting system with the respective stock exchange embedded in the bank that should also be linked to Forex and crypto exchanges. The bank will be able to give interest-free credits in crypto currency and accept payments for fiat credits in crypto currency. Faithfully yours, Lyubomir Stankov. [email protected]