Everyday we see thousands of articles praising UBI system. And we are yet to find a single implementation that is capable of serving large population. Read again carefully, large population. UBI just becomes harder to implement the more population you target. No amount of investor dumping their money into the UBI blockchain help and it just fails to keep it sustainable for long time.
Mannabase too started with the promise of serving entire world population on their blockchain. Earlier they used to be a different blockchain, which too got closed for some odd reasons.
After rebranding their own concept into new name - Mannabase. The people behind the blockchain thought they could implement and sustain this system. Last year they went through the new implementation of the identity recognition and onboarding new users. Which lead to some success. But then investor pumping stopped. And they had to put down the blockchain on hiatus yet again.
How did they worked?
They used to offer few manna each Thursday and their blockchain reflected the transaction each week. The money that they sent into the user account was extremely low even by 3rd or 4th world standards.
1 manna at that time was around 0.0004 USD or something even much lower before they made few changes last December in 2019.
They also opened the option to send the manna to each other. But it was already so low in price, sending it to each other hardly makes any difference.
What is the status of mannabase now?
Each year they close their service for few months, then investors fund them and they restart again. So in 2021, that cycle also started again. I am not sure what are their plans now. But countless amount of socialist articles on how UBI is sustainable when your implementation fails each year goes to show the sustainable nature of UBI.
Does the UBI works?
No it does not work. Many attempts were made for making it work on large population. Still skeptical? Try running it in Pakistan, India and see the results of it on humanity. You will end up with models like china, North Korea to enforce it or end up being liberal Venezuela that struggles in economy. Biggest problem in UBI is consistent funding. People who fund it, read as 1% rich of that nation, who find loophole in it and avoid throwing money into it. Always remember rich people won't fund anything out of empathy unless they have something to gain out of it.
Noticed I didn't make any anti-communist argument. I didn't made any pro-capitalist siding argument.
All I am asking is, if your UBI works. Implement it and keep it working consistently year after another.
You can't get to make a shot at any other economic model in the world as failure while your own UBI implementation sucks to bankruptcy.
Does UBI works? Show it to me. Prove it with implementation.
I am "I need water in glass" type of person. I don't care half full or half empty. I need water.
Sorry UBI. You're not my glass.
