The Excitement of Near-Future Technologies: Decentralized Ownership and Its Impact

I gave up expecting computers to live up to their potential. Back in the 1980s, I was enthusiastic about their promise to revolutionize our lives. Now, here I am, typing this on a device so advanced that it essentially combines numerous functionalities: a supercomputer in my pocket, a camera, a video recorder, a music player, and an encyclopedia, all rolled into one. It's a camera, a video recorder, a music player, and an encyclopedia, all rolled into one. And that's just a tiny part of its capabilities. It's unfathomable! I was there at the dawn of this digital age, and I'm utterly gobsmacked.

Decentralized Ownership: An Emerging Reality

Technological advancements are not just a distant future phenomenon; they are happening now, albeit not yet part of the everyday lives of most people globally. One such innovative concept gaining traction is decentralized ownership. This idea represents a significant shift in how property and resources are managed and accessed.

Decentralized Ownership

The term 'decentralized ownership' refers to the ability for individuals to buy and own a fraction of any asset—be it a robot fleet, a house, a business, or any other type of property. This concept has been tested in pilot projects and businesses, proving its potential. For instance, let's consider a fleet of 10 robots with an example robot valued at $10,000. This fleet can be co-owned by a maximum of 20,000 individuals, companies, or a mixture of both, without the need for a corporate intermediary. This is all made possible through the blockchain technology inherent in bitcoin.

The blockchain serves as a decentralized ledger, ensuring scalability and security. This inherent smart property function is what allows for the fractional ownership of assets. Furthermore, the ownership is highly divisible, meaning people can buy and sell their portion of fractional ownership at any time. This is not a substitute for Universal Basic Income (UBI); rather, it's a voluntary fractional ownership model that allows individuals to participate in the economic benefits derived from their investments.

Income and Equity

The income generated by each owner of the robot fleet, or any co-owned house, business, car, etc., is directly proportional to their percentage ownership. For example, if an individual or company owns 1% of the 10-robot fleet, they receive 1% of the income generated from the work of the fleet. This system ensures a fair distribution of wealth and provides passive income to those who own a fraction of the assets.

Additionally, decision-making processes, such as voting rights and maintenance, are managed through the decentralized ledger. This ensures democratic participation and shared governance of the assets, further promoting transparency and accountability. The tax implications of this model are minimal; there is no tax on the fractional ownership activity. This means that even someone with only five dollars can own a portion of a robot fleet or a house, and earn passive income proportionate to their ownership percentage.

Implications for the Future

The implications of this decentralized ownership model are profound. It can potentially reduce income inequality by providing a means for individuals to participate in the economy without the need for traditional employment. Moreover, it democratizes access to assets, making capital investment accessible to a broader range of people. This concept has the potential to empower individuals and small businesses, giving them a stake in economic growth.

However, the success of this model depends on several factors. For one, the lack of tax burden on the activity is a significant advantage. It encourages widespread participation and reduces the barrier to entry for adopting this model. Additionally, the creation of a simple tax system, akin to a sliding scale, could further enhance its appeal. While the ideal world would be one without taxes, a simplified tax code that requires only a single, easy-to-complete page would certainly be a step in the right direction.

References and Further Reading

If you're interested in diving deeper into the topic of decentralized ownership, here are some reference points:

New here: How can I join a techno-coop? r/Technism - Helotism: Publicly-Owned Automation as a Potential Development Why Elon Musk is flat wrong with respect to his support for UBI Elon Musk's European Universal Basic Income (EUBI): Is a Negative Income Tax the Better Approach? Do you agree that the US should consider taxing robots who replace human workers?

As technology continues to evolve, decentralized ownership and fractional ownership models like these are likely to play an increasingly important role in shaping our economic and social landscape. The possibilities are exciting, and the future is undoubtedly on the brink of transformation.