Ethereum Based Universal Basic Income?!

Hey guys.

This is Orhan from Turkey. I’m following you from your channel. So as you can guess I’ve landed up here.

First things first. I’m 35 and a self trained developer in the Ethereum based crowdfunding projects. I’ve just launched my own project. Trying to code and build a new type of Blockchain Technology (which I’ll probably share the details if you would like to know).

I’ve met with Bitcoin at 2013. We decided to build our own mining rigs. I applied for credits from a bank. It was around 2000 Euros with todays rates. Anyway then something happened and Bitcoin went from 300 Dollars to 100s. And then we’ve panicked in this correction. So we sold all Bitcoins and hardware. But we were completely failed and lost all of our money. Anyway I got a job offer from Malta which is completely an opportunity to me. But due to banking systems it was impossible to pay for my credit debt to the Turkish bank from Maltese bank. So it ended up in legal courts. I’m still paying this debt and it’ve been like 8000 Euros.

So as you can understand I also learned about the banking procedure as an individual. However I also remembered from my boring Statistics lessons from University. Like Keynes, Austrian Schools, Adam Smith, Karl Marx etc. And I also remembered some other important things about Financial System. Then I’ve researched it. I’ve learned about Financial history, Financial Ideas and Practices. And I’m a Futurist Entrepreneur who obsessed with blockchain.

So as you can understand my project is about a wide scale Universal Basic Income. It’s a fact there’s some centralization needs for blockchain because it’s simply couldn’t be spend or transfer as “MONEY”. I mean not investing on a project. Like buying cigarettes from the shop.

My project eliminates this by using mathematics, statistics, history, philosophy, physics, law, justice, future and rationalism. What I’m doing is that I’ve created a new protocol for my project which I call 4C Protocol. It means CrossChained CryptoCurrency. I’m centralizing the transaction with the full authority but with a constitution. I’m creating a new geometrical shape for blockchain. Constitution is including the rules of the ecosystem. I’m processing Reward-Fine and Rate-Vote paradigms for last users. I’m creating money with every transaction and splitting it to the every part of the transaction. I mean if you’re in the ecosystem, you’re earning money. So to make it easier, I’m creating tokens. These tokens will be provided to the crowdfunding with a smart contract. And creating a new financial system in order to provide my own money to the people in local and global scale. Like a Universal Basic Income money. I’m also creating the platforms that I need. I mean apps, websites etc. Also companying my trust and money under a name globally. So I may need your help.

And as I said I’m thinking to create money from the rate-vote procedure. And there will be some interests. levels etc.

If anyone interested we can develop all together and maybe establish a partnership if you already have a company. So it’s really amazing technology in Block Chain. And lets see what will happen.

Hope you knew me a bit Cheers

I’ve studied Statistics

Hey Orhan,

Sounds like a very ambitious though interesting plan. Centralisation may put off a lot of people though. It’s a word that goes against the fundamentals of the blockchain. You say there will be a constitution, but who will keep that in check?
I don’t mean to sound negative, just pointing out some challenges you may have ahead of you with this project.

What kind of contribution would you require to keep your project going?


Everything is balanced with golden ratio :smiley: Well actually everybody will have access of the archive file. But before they reach it, But they will not have access to the Key of the additional cryptography layer. The thing is if I need the transaction information for any kind of legal needing I will ask to the community to make it public or not. And according to their wish I will act.

And also as I said Mathematics is really important for me.

@OrhanAbuska, what I understood from your post is that you are making an investment proposal, but I think you need to re-define and re-formulate it to gain more attention and interest.

You are talking a lot about failure, taking loans, building projects, then panicking, losing money, having legal issues with the Turkish and European banks, etc. That does not seem convincing at all. I suggest not talking about that part of the story, because who would believe in a person who has such a story with banking and finances, and is now asking for extra investments?

Second, you are jumping from one basic assumption to another and making another assumption of making a profit out a centralized transactions idea. People like blockchain and cryptocurrencies, because they are decentralized. Maybe your idea is great and contains a good value in it, but to re-formulate it and focus on the idea and not on your failed experiences.

This is not for criticizing you and your project, but for outlining the gaps you have made and how you should improve it to engage more supporters!

I hope this helps! Good luck!

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