I was thinking about a similar concept - a cryptocurrency system where ICO proceeds are used to buy land. Then land owned by Foundation can be rented out while currency tokens will be subject to demurrage. The rent and demurrage fee should be used to pay basic income to all participants.
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Interesting idea. I'd like to hear more. You should do a post on the subject.
Thanks. I have drafted a chart of how this system may be designed. I will do a post once I will have it finalized.