It all started with the Universal Basic Income scheme being tossed into the first world. And the people who were rich started using AI as an excuse to preach this to the govt. In reality this scheme has never worked for any developed or developing nation. Only nation where it is going on in practice is Netherlands (or perhaps some other EU nations).
Mind you I got a deletion notice in past for writing against UBI here. That article I suppose is not there anymore. So expect this post to get similar notice because some people just want UBI to survive while ignoring the ground facts.
Facts: UBI never worked in Asia, Africa and China as of yet. If it were to work, there would be no sweat shops in China working for the outsourced dropship companies. No underage labor. No people struggling in Philippines, India, Pakistan etc. UBI can't fix growing population issues with giving out free money. In 2005 you could survive in Asia for 10 $ a day but in 2022, that is not the case anymore.
So let's go ahead and try to decipher this whole Universal Basic Income on blockchain scam.
Phase 1: Grant Coin
It started with a vision under the grantcoin where people were allotted the specific amount. The project was going slow and steady. And it didn't served or solved major problems of poor or below poverty line people. None of the nations or the places where this project managed to push has shown any promise. No results. No people endorsing the coin or the project in general. In that case you can say that the project was due revamping and the people who were behind the project did exactly the same.
Phase 2 : MannaBase
Now I covered the mannabase scam scheme where the VC's were collected money from the rich and other VC people and putting it into the grinder trying to create ecosystem which was meant for paying people some virtual coin. It started in 2015 and then it ran for few more years. They used to give out the manna coin every thursday. The value of the coin was very low. And it was literally like some people pumped out fake coins, gave it away to people, burned out the distribution and eventually closed the manna.
Now the project closed for like few years till the 2021 where they decided to revive under a new name.
Phase 3: Hedge For Humanity
The project is now under this new name. Who are the people behind? No information on official site. Who are the people who created this token on Ethereum? Who are the people collecting funds from the VC rounds for this? No information. Literally everything about this project is not available out there.
They have also partnered with BrightID, which is basically a data collection company who verifies you in real world and kind of gets you in a grand data mining experiment. This is required for getting your future UBI verified. Like without this step you can't get the free UBI anymore. So basically its no different than govt asking your every personal information only to give you few virtual tokens who may be few cents worth. I mean even 1 dollar is not worth anymore in the poor countries as the inflation in 2022 would force even the poor countries to survive on minimum 10 USD or above or stay hungry for 2 times a day.
So the new scheme, Hedge for Humanity is completely a data mining experiment out to get the people under them in the hope of UBI to work. But in reality those tokens have low value in market, they can't pay your bills, they are decorative tokens like some NFT which can't be sold.
I said this before while covering the Mannabase and now let me repeat again, Hedge for Humanity is another UBI scam waiting to explore and exit by taking the data of user around the world.
You can read more about HFH here: Hedge for Humanity.
What do you think of UBI? Has it worked out for you?
