LA UBI

Access to tech and creative industry employment

Research (initial work to identify and understand the problem)

Many of LA County’s biggest problems result from residents lacking enough financial resources to access basic needs, secure housing, and take care of their mental health. Our community strives to treat all humans with dignity, regardless of their background, health issues, or economic status. This idealism comes with high costs. Instead of abandoning our ideals, we should adopt more radical solutions. Redistributing wealth and experimenting with different forms of money are approaches that Ethereum excels at.
Our traditional financial system has exacerbated inequality, concentrating wealth at the top and maintaining systemic injustices. These systems, historically rooted in exploitation, are now challenged by digital alternatives like Ethereum. Ethereum offers a decentralized economic structure that allows the creation of new types of money and distribution systems that can be created and accessed via open-sourced software.

This proposal marks the beginning of an ambitious project to provide Universal Basic Income (UBI) to every resident in Los Angeles. UBI will be facilitated using a Layer 2 solution on Ethereum, a neutral platform for the creation and distribution of digital tokens. The idea is not intended to distribute US dollars at this phase of the project. During this phase, we aim to give as many residents as possible access to Ethereum accounts that are tied to a verified government ID such as a California driver’s license. Then we will work with community partners to provide a variety of digital tokens and assets to each verified account. These tokens and assets will serve as a symbol or stand in for a future project where funding sourced is from donors, non-profits, and government agencies. This pilot program aims to create a robust infrastructure for UBI, leveraging modern technology to ensure financial inclusivity and economic stability for all residents of Los Angeles County. By focusing on Ethereum’s capabilities and continuous innovation, we aim to transform the economic landscape of LA County.

If successful, LA County will have a practical path to Universal Basic Income (UBI). This means every resident, every person with a California driver's license with an address registered in LA County, will be eligible to receive UBI, and the means to receive and access those funds using a smartphone. In the long term, we aim to provide more financial tools and resources to all residents, regardless of their starting point. Ethereum’s capability to create new types of money out of consensus and math will allow for continuous experimentation with different forms of digital currencies, tailored to meet the diverse needs of LA County communities​​.
As FDR once said, "The country needs and, unless I mistake its temper, the country demands bold, persistent experimentation. It is common sense to take a method and try it: If it fails, admit it frankly and try another. But above all, try something."

Our primary measures of success will be:
1. Number of Ethereum addresses created or registered that are tied to a verified California resident. Each resident should be tied to only one Ethereum address at a time. 2. Number of community partners creating tokens and coins to send to residents in our initial pilot program.
3. Qualitative participant feedback based on surveys and interviews.