If the currency ceased to exist upon death then that would make killing for it less enticing to criminals. Once you pay someone for something and transfer some of your currency it becomes theirs so it would not disappear. Yet what you have at the time of death could disappear. I know some people may not like that idea because they cannot pass it onto their children. However, for it to truly work each person must only have their own currency and what was given to them in voluntary trade by another.
When you die your currency income ceases. Thus, if you promise future currency there is no future currency beyond your death. Again that actually might discourage killing.
EDIT: Unlike "In Time" I am proposing that currency be the same for anyone. It is accumulated as time passes. You cannot collect for time that has not yet passed. If you die suddenly then your currency stops then as well.
It would be very different from what we are used to. Yet that doesn't mean it might not be feasible.
That's an understandable solution as well, is this like UBI? or does each person also need to "work" to activate it?
You should write novel about this as it is interesting, also normal people like it better in that format for wider reach.
I don't have a formal definition. This post was simply a seed of an idea.
I think it would be essentially like UBI because it is YOUR TIME that it is based upon.
However, if you don't contribute any way then you'll just have your time. To get more time and potentially do more things you need to exchange a service and actually do something.
Who is going to clean a persons house? Grow their food? Fix their plumbing?
You'd have to exchange currency for those services.
If all you do is nothing but collect your currency then so what? That means you end up giving it to others to do the things for you. They in turn then have more to spend how they like.
The thing is there should be no more currency than has entered the system through the time someone was alive.
You could accumulate a lot of it by providing services to people. Yet what you have will not go with you after you are gone. I'd say you should be able to pass your property on after your death but your currency would be gone.
Right now in our day UBI is poof printed out of thin air. It causes inflation that impacts everyone. It is backed by nothing.
I see, it's like a living money.
But does that accumulate overtime? Like if my great grandfather had amassed a value equivalent to 2M people (lifetime) during his lifetime and "given" a portion of it to me and I then compounded it by doing business, does it work like that?
Having many children can make more "money" into the circulation, but having less will let the heirs accumulate more of it.
No clue. I am making it all up. I would assume it should disappear when a person that owns it dies. However, once you transfer it to someone else you no longer own it. Thus, whatever you gave to someone else for trade or whatever reason would become theirs. Could a person thus amass a bunch of it? Sure. If they are not spending it and/or they have something they offer that a lot of people want to exchange for.
Your heirs won't get your money when you die. They only get what you give them before you die. It is important that it not accumulate by being passed down. You could however purchase property and pass that down to your heirs. I'd see heirs as owning more STUFF rather than money.