To establish a global basic income system, multiple revenue streams are essential. Here are some promising ways to finance UBI:

Glo Dollar: Stablecoin for Social Good

Glo Dollar is an innovative stablecoin that combines cryptocurrency technology with philanthropic goals:

• Fully backed and pegged to the US dollar
• Generates interest from reserves, similar to other stablecoins
• Operates as a non-profit, redirecting interest to public goods and charity
• Supports GiveDirectly’s basic income program

By simply holding Glo Dollars, users contribute to basic income generation for those in extreme poverty. Increased adoption of this stablecoin directly correlates with expanded basic income distribution25.

Basic Income Lottery: “Mein Grundeinkommen”

Germany’s successful basic income lottery, “Mein Grundeinkommen,” offers a unique approach:

• Provides €1,000 monthly for one year to winners
• Open to participants regardless of nationality
• Funded through crowdsourcing

While not a permanent or universal solution, this lottery allows individuals to experience the impact of basic income firsthand.

Donations-based Trust Fund

A Donation-based Trust Fund can be set up to build up a steady revenue stream. At the moment there is no Trust Fund like that. An easy way to set it up is using Give for Good. They support all sorts of charities. Basic Income can become one of them.

Other Financing Options

The site from Equal Right summarizes a number of other strategies to fund a worldwide basic income. Just to mention some of the options they mention:

1. Carbon and Wealth Taxes: Implement progressive taxation on carbon emissions and wealth.
2. Social dividend like in the Alaska Permanent Fund. This fund distributes a share of the state’s wealth derived from oil royalties to each citizen in the form of an annual dividend payment. Another example is the Government Pension Fund of Norway, which implements a limited form of social dividend based on public ownership of natural resources.
3. A land value tax
4. Tax energy from the wind, sun, rivers and waves to gather a share of their revenues for humanity
5. Financial Transaction Taxes: Small levies on financial activities could generate significant revenue.

By combining these approaches like this, we can work towards a worldwide basic income, addressing poverty and inequality on a global scale.