The problem of wealth distribution is certainly not solved, because the system you are describing, in which wealth is taken from someone, involves coersion. It

The problem of wealth distribution is certainly not solved, because the system you are describing, in which wealth is taken from someone, involves coersion. It requires violence to enforce. It requires consolidation of power. The system proposed here, however simple, is describing voluntary wealth redistribution. No one is forced into the system, but the rules of the system are set to level the playing field. I think this is a good start, and we will likely see many more implementations of this basic idea. One genius aspect of software-based currency is that it allows the possibility of the establishment of laws without a police force. The currency is its own police force. Anyone who doesn't like the rules can choose to use another cryptocurrency with different rules. This is consensus-based law, and it is a movement in the right direction.