Circles, a new currency system, is based on personalized Cryptocurrency and the social trust map between these currencies. The purpose of this monetary system is to allocate money in a way that over time will lead to equalization of wealth and function like the universal basic income available globally. When new users join the circle, new personal Cryptocurrency will be created for them on the smart contract enabled blockchain. Then, this currency is regularly minted and added to their accounts, forming the basis for the UBI attribute of the circle. Users can trust other users' personal currency, which requires them to treat this personal currency as the same as any other revolving currency they hold. As social media becomes more interconnected, these personal currencies will converge into a single global currency system.Circles proposes to become a native UBI currency system for blockchain. It has its own built-in resistance to Sybil attacks (i.e. fake accounts), allowing anyone to join the network at any time without obtaining anyone's permission. Its design expects it to be guided in a completely organic and grassroots manner, but it is scalable to allow any arbitrary governance system to run on top of basic protocols. Circle is a new way to view the essence of currency and what value exchange means in the post UBI era.
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