Bottom-Up Money: Fair, stable, resilient — envisioning a free market in supplier-issued basic income currencies.

View or download the full paper Bottom-Up Money (v1.1) as a PDF.


We propose a decentralized system of monetary governance formed from an ecosystem of freely-formed coexisting UBI (universal basic income) currencies, each backed and governed by its own network of suppliers. The scheme creates an incentive for suppliers to issue the quantity of currency that maximizes profits while keeping their currency value stable. Since new money would be created solely through UBI, all seigniorage goes to the UBI recipients, thus removing perverse incentives for the issuing body and optimizing the money supply according to Pareto efficiency. Distribution of new money via a global UBI additionally ensures a minimum level of liquidity in currency exchange markets. Furthermore, optional features such as a demurrage rate may be set in the currencies, tailored by each issuing body as a stabilizing mechanism or determined by global consensus as a tool for taxation.

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