UBI
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Reputation Ratings

UBI

Universal Basic Income 2-5 years
Cryptocurrency
Website https://www.proofofhumanity.id/
Browser
OTH RELPs
White Paper
UBI Avg Price
0.00%
1D

$ 0.0002 USD

$ 0.0002 USD

Market Cap

$ 6,003 0.00 USD

$ 6,003 USD

24h trading volume

$ 0 USD

$ 0.00 USD

7d Vol

$ 278.15 USD

$ 278.15 USD

Circulating supply

0.00 0.00 UBI

Related information

Issue Time

2021-10-20

Platform pertained to

--

Current price

$0.0002USD

Market Cap

$6,003USD

Volume of Transaction

24h

$0.00USD

Circulating supply

0.00UBI

Volume of Transaction

7d

$278.15USD

Change

24h

0.00%

Number of Markets

10

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Current Rate0

Available

0.00USD

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WikiBit Risk Alerts

1
Previous Detection 2024-11-21

WikiBit has marked the token as air coin project for we have received overwhelming complaints that this token is a Ponzi Scheme. Please be aware of the risk!

UBI Price Chart

Introduction

Markets

3H

0.00%

1D

0.00%

1W

0.00%

1M

-36.89%

1Y

-60.15%

All

-99.94%

Universal Basic Income (UBI) is a concept that proposes giving every citizen a basic amount of money regularly, regardless of their employment or income. This concept has been gaining traction in recent years, especially within the cryptocurrency community. While there isn't a single, universally recognized “UBI coin,” many cryptocurrency projects have explored the idea of using blockchain technology to implement UBI systems.

How UBI Cryptocurrencies Work

A UBI cryptocurrency typically operates within a decentralized ecosystem. Here's a simplified breakdown of how it might work:

  • Token Distribution: A certain amount of tokens is distributed to eligible individuals, either through an airdrop or by purchasing them.
  • Smart Contracts: Smart contracts on the blockchain automate the distribution of tokens at regular intervals.
  • Decentralized Governance: Decisions about the UBI program, such as the amount of tokens distributed and eligibility criteria, are often made through a decentralized governance system involving token holders.
  • Real-World Integration: The tokens can be exchanged for fiat currency or used to purchase goods and services, effectively acting as a universal basic income.

Benefits of UBI Cryptocurrencies

  • Financial Inclusion: UBI cryptocurrencies can provide financial inclusion to those who are unbanked or underbanked.
  • Economic Stability: By providing a steady income, UBI can help to stabilize economies and reduce poverty.
  • Innovation: UBI cryptocurrencies can foster innovation by creating new economic models and use cases for blockchain technology.
  • Transparency: Transactions on a blockchain are transparent, making it difficult to manipulate or corrupt the system.

Challenges and Considerations

  • Scalability: As the number of users grows, ensuring the scalability of a UBI system can be challenging.
  • Regulatory Hurdles: Implementing a global UBI system would require significant changes to existing financial regulations.
  • Token Value Stability: The value of a UBI token can fluctuate, impacting the purchasing power of recipients.
  • Inequality: If not carefully designed, a UBI system could perpetuate existing inequalities.

Examples of UBI-Inspired Projects

While there isn't a single, dominant UBI cryptocurrency, several projects have explored similar concepts:

  • Community-Based Initiatives: Many smaller-scale projects have emerged, focused on specific communities or regions, aiming to implement UBI systems on a local level.
  • Decentralized Autonomous Organizations (DAOs): Some DAOs have experimented with distributing tokens to members as a form of UBI.
  • Larger Cryptocurrency Projects: Even some of the more established cryptocurrencies have discussed incorporating UBI elements into their ecosystems.

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