As the world continues to move towards automation, many jobs are being replaced by artificial intelligence (AI). This has left many people wondering how they will stay afloat financially. Universal Basic Income (UBI) is one solution that has been proposed, but it may not be the only answer.
One potential alternative is a system of “smart contracts” that would provide financial support for those who have lost their jobs due to AI-driven automation. Smart contracts are digital agreements between two or more parties that can be enforced without any human intervention. They could be used to create an automated system where individuals receive payments from companies in exchange for performing certain tasks or services.
For example, if a company needed help with customer service, they could set up a smart contract with an individual and pay them for every hour worked on the task. The individual would then receive payment directly into their bank account without having to wait weeks or months for traditional payroll processing timescales. This type of arrangement could also allow individuals to work flexible hours and take on multiple projects at once, giving them greater control over their income streams than UBI alone might offer.
Another benefit of this approach is that it allows companies to access skilled labor quickly and easily while avoiding costly recruitment processes such as interviewing candidates and running background checks – something which AI cannot do yet! It also provides job security as workers can switch employers whenever they want without worrying about losing benefits like health insurance or pension contributions associated with full-time employment contracts.
Smart contracts could even enable people who don’t have formal qualifications or experience in specific fields to find work; allowing them access to opportunities otherwise unavailable through traditional methods of employment such as applying for jobs online or attending interviews in person. For instance, someone who wanted to become a web designer but didn’t have any prior experience could use smart contracts as a way of gaining valuable skills while earning money at the same time – something which UBI does not offer either!
Overall, using smart contracts instead of UBI offers several advantages when it comes to providing financial support during periods of job loss caused by AI-driven automation: flexibility in terms of working hours; quicker payments; easier access to new opportunities; and job security regardless of qualifications/experience levels required by employers today. As technology advances further and more jobs become automated, this type of system may prove invaluable in helping people stay afloat financially until other solutions are found! |As AI eliminates jobs, a way To keep people Afloat Financially (That’s Not UBI)|Technology|TechCrunch
