Encointer: A Blockchain Experiment in Local Currencies and Universal Basic Income

Encointer is a blockchain protocol designed to issue community-based cryptocurrencies that act as a universal basic income for participants. By combining proof-of-personhood ceremonies, demurrage-based money supply, and Polkadot’s shared security, Encointer enables local, privacy-preserving economies that scale horizontally. It challenges traditional and crypto-economic systems alike by replacing capital-based validation with human-based participation—creating a truly decentralized, one-person-one-vote governance model.