People really do not understand blockchain. Since each member gets regular basic income and are verified with KYC (to prevent fake identities) this is just how

People really do not understand blockchain. Since each member gets regular basic income and are verified with KYC (to prevent fake identities) this is just how money is handled among friends. Alice owes Bob a dollar and Bob owes Carol a dollar and Carol owes Alice so it all eventually settles. Just the friends in this 'group' keep a record of it. Why do they need mining then? They don't. They just need a ledger of all the loans. If a ledger can serve as a currency system then why do we even need mining? Because users could fake multiple identities, to receive the basic income. Mining is required to solve this 'money generation' problem. In bitcoin, not everyone gets basic income but only the ones who do some work to maintain the ledger. What group currency is, is called hawala.