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Jr. MemberActivity: 81Merit: 1 [ANN] UBIC:The cryptocurrency providing UBI for the masses using the E-Passport February 26, 2018, 01:41:42 AM

Last edit: May 12, 2020, 09:39:46 AM by ubicorn Merited by uboid (1) #1 White paper | Source code | Block explorer | Installation instructions (Linux) | Installation instructions (video) | Android app















UBIC stands for Universal Basic Income Currency and is a blockchain -based platform that distributes crypto currency under the form of a universal basic income .

- How does it work?

Since 2008, more than 60 countries issue biometric passports, which include a NFC-compliant RFID chip containing digitally signed personal information.

These embedded NFC chips can be read out easily using smartphones and other NFC-capable devices.

UBIC takes advantage of this existing technology and uses the unique digital signature issued with every E-Passport in order to securely distribute a basic income.

To receive this UBI, a user has to recover the digital signature from the chip by using his NFC capable computer or smartphone, this piece of information is then cryptographically linked to an UBIC address.

Within minutes and this every minute until approximately expiration of his passport the user will receive a country -specific UBIC token named UUS for the US, UCH for Switzerland, UUK for the UK, and so on.



-Who can participate?

Everyone can receive and make payments, however, if you want to receive an UBI, you need to own a valid (non-expired) passport of one of the following countries:

Currency code Country UBI yearly emission rate additional information UCH Switzerland 10,196,640 UDE Germany 100,599,840 UAT Austria 10,617,120 passports after October 2014 UUK United Kingdom 79,838,640 UIE Ireland 5,781,600 passports after May 2016 UUS USA 393,096,240 UAU Australia 29,223,360 UCN China 1,677,767,760 Hong Kong passports after July 2019 USE Sweden 12,036,240 UFR France 81,730,800 UCA Canada 44,150,400 UJP Japan 154,526,400 passports after May 2016 UTH Thailand 81,520,560 UNZ New Zealand 5,571,360 UAE United Arab Emirates 11,300,400 UFI Finland 6,675,120 ULU Luxemburg 525,600 USG Singapore 6,832,800 UHU Hungary 11,931,120 UCZ Czech Republic 12,877,200 UMY Malaysia 38,684,160 UUA Ukraine 54,767,520 UEE Estonia 1,681,920 No registration possible yet UMC Monaco 52,560 No registration possible yet ULI Liechtenstein 52,560 No registration possible yet UIS Iceland 420,480 passports after february 2013 UHK Hong Kong 8,988,000 No registration possible yet UES Spain 56,764,800 passports after July 2016

- How much will I receive?

There is a static amount of coins distributed every minute. For example, for Germany, 191 units will be minted every minute.

The amount each individual receives depends on the amount of people having registered. If there is only one UBI subscriber for Germany, then he will collect the full 191 units.

If there are more than one subscriber, this amount will be equally split and if there is a division reminder, it will be added to the payout of the next block.

As a consequence, if the number of subscribers increase, you'll receive less but probably more valuable coins.

This design incites people to register as soon as possible and makes the coins valuable, as the maximal supply is predictable and the value of a single coin has the potential to increase over time.



- What about transaction fees?

Transaction fees are important to ensure that a fair use is made of the limited available amount of transaction storage within a block.

To make sure this fee isn't neither too low nor too high, the fee will depend on the current UBI payout.

This means that a simple one input, one output transaction will cost you about 3 to 6 hours of UBI. The transaction fee itself is burned/destroyed, which is meant to reduce inflation.



- How many people can join?

UBIC intends to be much more scalable than other crypto currencies, this will mainly be achieved by relying on less but more powerful nodes;

by design, donations to nodes have been simplified at some of the dev funds will be allocated to it.

with a mix of designated and elected delegates.

Under the current implementation, there will be a maximum of 51 super nodes.

Currently, blocks are limited to about 2MB in size; this translates in about 20 times more block space than Bitcoin currently has.



- When will it start?

The source code is released hereby on Github as well as all the necessary resources to run a node.



- External resources

White paper

Android app

Source code

Block explorer

Installation instructions (Linux)

Installation instructions (video)





- Development fund

UBIC is the result of over one year of intense research and development, this effort wont stop now and will require some funding.

Unlike many other projects, we have decided not to run an ICO, instead, our development fund will get its own kind of UBI.



The development fund will be used for expenses such as:

- Continuing the development of UBIC

- Bug, translation and security bounties

- Blockchain explorer development

- Mobile App development

- Running nodes

- And any required or desirable new developments.



If you want to do one of those things, please write to me.

If you want to receive donations for running a node, all you need to do is to add your address in the config.ini file.

Then create a Pull request with your node IP address on this repository:



- Roadmap



2018, Q1

- Release UBIC v0.1 (done)

- Release a white paper (done)

- Release a blockchain explorer (done)



2018, Q2

- Release a mobile app (done)



2018, Q3

- Integrate a KYC functionality to the mobile app.(Halfway)



2020-2021

- Release an E-voting solution on top of UBIC

- Use the E-Voting solution to elect validators



- Donations

All currencies/tokens send to this addresses will be included to the development fund:

- UBIC: qYReFGX7dKkoKCp2nej7EyW6KRSb7QAti

- Bitcoin: 13sFUA2GPeFqvACxzYKHVrqXaXKc1uw9fv Since 2008, more than 60 countries issue biometric passports, which include a NFC-compliant RFID chip containing digitally signed personal information.These embedded NFC chips can be read out easily using smartphones and other NFC-capable devices.UBIC takes advantage of this existing technology and uses the unique digital signature issued with every E-Passport in order to securely distribute a basic income.To receive this UBI, a user has to recover the digital signature from the chip by using his NFC capable computer or smartphone, this piece of information is then cryptographically linked to an UBIC address.Within minutes and this every minute until approximately expiration of his passport the user will receive a country -specific UBIC token named UUS for the US, UCH for Switzerland, UUK for the UK, and so on.Everyone can receive and make payments, however, if you want to receive an UBI, you need to own a valid (non-expired) passport of one of the following countries:There is a static amount of coins distributed every minute. For example, for Germany, 191 units will be minted every minute.The amount each individual receives depends on the amount of people having registered. If there is only one UBI subscriber for Germany, then he will collect the full 191 units.If there are more than one subscriber, this amount will be equally split and if there is a division reminder, it will be added to the payout of the next block.As a consequence, if the number of subscribers increase, you'll receive less but probably more valuable coins.This design incites people to register as soon as possible and makes the coins valuable, as the maximal supply is predictable and the value of a single coin has the potential to increase over time.Transaction fees are important to ensure that a fair use is made of the limited available amount of transaction storage within a block.To make sure this fee isn't neither too low nor too high, the fee will depend on the current UBI payout.This means that a simple one input, one output transaction will cost you about 3 to 6 hours of UBI. The transaction fee itself is burned/destroyed, which is meant to reduce inflation.UBIC intends to be much more scalable than other crypto currencies, this will mainly be achieved by relying on less but more powerful nodes;by design, donations to nodes have been simplified at some of the dev funds will be allocated to it.with a mix of designated and elected delegates.Under the current implementation, there will be a maximum of 51 super nodes.Currently, blocks are limited to about 2MB in size; this translates in about 20 times more block space than Bitcoin currently has.The source code is released hereby on Github as well as all the necessary resources to run a node.UBIC is the result of over one year of intense research and development, this effort wont stop now and will require some funding.Unlike many other projects, we have decided not to run an ICO, instead, our development fund will get its own kind of UBI.The development fund will be used for expenses such as:- Continuing the development of UBIC- Bug, translation and security bounties- Blockchain explorer development- Mobile App development- Running nodes- And any required or desirable new developments.If you want to do one of those things, please write to me.If you want to receive donations for running a node, all you need to do is to add your address in the config.ini file.Then create a Pull request with your node IP address on this repository: https://github.com/UBIC-repo/node-list - Release UBIC v0.1- Release a white paper- Release a blockchain explorer- Release a mobile app- Integrate a KYC functionality to the mobile app.(Halfway)- Release an E-voting solution on top of UBIC- Use the E-Voting solution to elect validatorsAll currencies/tokens send to this addresses will be included to the development fund:- UBIC: qYReFGX7dKkoKCp2nej7EyW6KRSb7QAti- Bitcoin: 13sFUA2GPeFqvACxzYKHVrqXaXKc1uw9fv