I think humanity would still gain a lot, even if we cause a few new problems here and there.
I never said that there would be no rules or regulations. If fact, I mentioned that the government would be needed for this purpose. I don't claim that there would be no abuses, but I can't see how it could possibly be as riddled with abuse as our current system. I think with the taxpaying citizens personally involved, they will demand a high level of adherence and enforcement. They will also feel a greater sense of personal violation when someone they know abuses the system. I know several people who claim that they know so and so who are collecting welfare and making all kinds of money under the table. If they feel a personal with that money and that system, they are more likely to report that person or at least discourage them. Likewise, the fraudster is going to feel more pressure by the whole movement to avoid committing the abuse.