Circles provides basic income in the sense that every trusted member of our community can issue Circles tokens (CRC) regularly and equally through their smart contracts, without any further conditions. The value of this basic income is up to the community, which offers goods, products, and services in exchange for our complementary currency. In the beginning, it’s all about solidarity. Later on, however, when people can cover all their basic needs with CRC, it will also be their business interest.
However, unlike most basic income initiatives, Circles is decentralized. This means there is no single issuer of money and it relies on Distributed Ledger Technology (DLT). Instead of banks and monetary politics setting the value and price of CRC, Circles is all about community agreements and negotiations.
By spending CRC, people begin to claim the goods and services they need. At this early stage, Circles tokens will probably rather serve as pocket money.