We are living in unprecedented times: Covid-19 virus has rapidly spread all over the world, has undermined the foundations of the world economy, endangering the well-being of our society.
Throughout the world, businesses have suffered serious losses, people have lost their jobs, the self-employed cannot find clients; mortgage payments not being paid, savings running out, rent not being paid. Countries in which the vast majority of the population works in the private sector have been particularly hard hit, because people have practically no social protection and must only rely on their own earnings.
The economic system can function properly only in conditions of continuous movement, but now it is stopping. Without the decisive governments intervention, a huge number of people will suffer: enterprises will close, unemployment will rise sharply, a sharp recession will begin in the economy, and possibly even the second Great Depression.
And just as pandemics cannot be combated with conventional health measures, economic collapse requires more effective solutions than traditional anti-crisis tools.
Partial basic income is introduced at the start. Under the foundation’s program, a participating recipient will receive up to 5% of the minimum salary in the country where the program operates.
However, in the future, after testing the accrual process and with the expansion of the foundation, it is planned to move to a model of unconditional basic income and payment of a minimum amount in absolute terms to each participant in the fund, for example, from 50 to 100 US dollars.
Please keep in mind that at the first stage, not everyone will be able to qualify for an unconditional basic income. To qualify for the foundation’s program, you must actively participate in the project and contribute in any way you can, whether by active or moderate participation in activities to promote the foundation. With the bonuses accumulated for this contribution, a person can claim the status of an active participant and, accordingly, a monthly basic income.
The final basic income amount will be determined by the testing stage results.
We believe that universal (unconditional) basic income programs from private institutions, without waiting for universal adoption at the state level, will play an important role in the emergency response to the economic crisis, and we hope that this will help many people in need around the world.
Basic Income Foundation (hereinafter referred to as BINCOME) is a non-profit charitable organization created to financial assistance its participants by accruing a Universal Basic Income (UBI) during times of economic instability.
BINCOME assets include funds generated from contributions specifically allocated to fund its activities and from other resources, including fiat and crypto assets, securities, as well as movable and immovable property.
BINCOME performs one main function: Providing financial assistance to its participants on a perpetual, irrevocable and gratuitous basis by accruing and paying out to their bank accounts, electronic and blockchain wallets.
When voting for candidates to the governing bodies, votes are taken into account in proportion to the volume of BINC on the Stellar addresses of BINCOME participants. The decision is made by a simple majority of votes.
The Supervisory Board is the supreme governing body of BINCOME and has the right to:
A member of the Supervisory Board may also be a member of the Executive Committee.
The Executive Committee is a single permanent executive, administrative and coordinating body of BINCOME.
The Executive Committee organizes the work of BINCOME and takes the following measures to ensure its financial efficiency:
Financial indicators are determined by the amount of financial assistance accrued to the BINCOME participants (the more assistance provided, the higher the remuneration of BINCOME management bodies).
BINCOME has the right to establish structural divisions (representative offices) based on the territorial basis: for countries, states / provinces / provinces, cities, districts, streets, and so on:
The remuneration and the minimum social security package for the director of the country level BINCOME representative office may, but not necessarily, include:
a. apartment (rent);
b. car (rent);
c. medical insurance;
d. pension/insurance package.
e. wages in the amount of at least 100% of the average monthly wage in the country of residence (at least 200–1000 US dollars per month, depending on the country).
The funds for remuneration and minimum social package for the representative office director are taken from BINCOME funds based on the amount of an assistance provided in the respective country — the more assistance is provided, the more remuneration and the size of the social package the director of the representative office can count on.
Only Basic Income Foundation participant can be BINCOME representative office director. Simultaneously, the representative office director shall be one of BINCOME directors, representing and protecting his country’s interests in BINCOME.
In addition to remuneration for their work in BINCOME and a social package, the BINCOME director has the right to receive additional remuneration in the amount of 2% of the basic income amount accrued to all participants based in his country.
An annual bonus based on the performance of BINCOME representative office, depending on its actual performance.
BINCOME invites all interested parties to consider any programs of mutually beneficial cooperation: We are interested in attracting new consultants for countries and other local territorial entities.