9531 CM Borger the Netherlands +31599820288

UBI-Vault

Open source system to raise money, put it in a UBI-Vault and distribute this money from the UBI-Vault as a Universal Basic Income to individual citizens.

Powered by Ethereum smart contracts and uPort

UBI-Vault: a Decentralized Basic Income Distribution System

Round 0

5%

UBI-Vault

distribution of universal basic income money

UBI-Vault

A UBI-Vault is a container on the Ethereum blockchain with cryptocurrency (digital money). A citizen can use a mobile app to create her personal UBI-Vault. A computer program (smart contract) distributes cryptocurrency from the main Vault to a citizenĀ“s Vault.

Citizens

A citizen will receive a notification on her mobile phone after a money transfer. She can convert her digital money to a currency of choice. She can pay with her mobile phone or with a pay-card.

Organizations

Self-owned organizations, AI DAOs are made to spend their profits to a Universal Basic Income. Also other organizations, governments and individuals can sponsor money to "The Vault".

Motivation

AI DAO`s get tax reductions. Other organizations and individuals can use the UBI-Vault logo as proof of their contribution to a basic civilized income. Governments can use the UBI-Vault logo when they contribute 1% of their GDP to the UBI-Vault.

Some of the people behind the UBI-Vault

Roland Sassen

Hilde Latour

A blockchain, originally block chain, is a continuously growing list of records, called blocks, which are linked and secured using cryptography. Each block typically contains a hash pointer as a link to a previous block, a timestamp and transaction data. By design, blockchains are inherently resistant to modification of the data. It is “an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way”. For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks, which requires collusion of the network majority.

Blocks hold batches of valid transactions that are hashed and encoded into a Merkle tree. Each block includes the hash of the prior block in the blockchain, linking the two. The linked blocks form a chain. This iterative process confirms the integrity of the previous block, all the way back to the original genesis block.

A hard fork term refers to a situation when a blockchain splits into two separate chains in consequence of the use of two distinct sets of rules trying to govern the system. For example, Ethereum has hard-forked to “make whole” the investors in The DAO, which had been hacked by exploiting a vulnerability in its code. In 2014 the Nxt community was asked to consider a hard fork that would have led to a rollback of the blockchain records to mitigate the effects of a theft of 50 million NXT from a major cryptocurrency exchange. The hard fork proposal was rejected, and some of the funds were recovered after negotiations and ransom payment.