As long as there are greedy people and a limited supply of earth and its resources there will always need to be an accounting system for it. But that's not to say the system can't be improved. A full land-value tax would give the inherent value of land and natural resources back to the public and compensate those who use less of our limited resources from those who use too much.
This is the basic flaw that everyone seems to be missing. Cost of living will just rise to meet the increase in demand resulting in no one except private landowners being any better off. Henry George identified the solution over 100 years ago. Basic income requires something like the Henry George land-value tax to be successful. At the same time, a land-value tax would also be the best way to raise funds for a universal basic income.