A Pretty Good Universal Gift Dividend Project
Summary
Bitcoin and cryptocurrencies give us an opportunity to drastically improve the world and create a new and more equitable financial future. However, many of those involved in the crypto industry are too focused on making money and speculative activities. Furthermore, breakthroughs in Ai will drastically change the way the society and economy functions in the future and will require many around the world to re-invent their lives. Hence, we propose a project focused on universal giving to provide a balancing force to the crypto industry and to the world of the future. We can all come together to create a non-profit chain that distributes coins to each unique person in the world as a dividend for life as well as create a global identity chain. This universal dividend chain will be built and maintained by volunteers as well as funded by individuals and organizational donors in our industry and the only way to obtain any tokens is from the dividend distribution.
Token Distribution
Some may be concerned about inflation if everyone receives a monthly token forever. However, the network value of the chain should increase proportionally to the inflation rate as new people enter the network. Hence, despite inflation the value & price of the token should be relatively stable with few expectations of rapid appreciation. Furthermore, when the network size hits maturity (eg. 4-7 billion people) the rate of inflation will be linear and the inflation rate will decrease significantly over time.
Initial Applications
- Charitable giving platform – the expected monthly distribution for each person may only amount to $1-5 a month and may be insignificant to most people in the developed world. Hence the platform should encourage members to donate their own distribution to others and foster charitable donations to other individuals or organizations in need.
- Funding for open-source Ai projects – Ai will likely drastically change the economy and society in 5-7 years. However, many public goods projects need funding to be sustainable. Hence users can donate their dividends to open-source Ai publics good projects on the platform to help foster Ai for the benefit of all.
- Identity for authentication – users can use the key on this ID chain as the primary key to authenticate into any application.
- Social key recovery system – combining web-of-trust, ID technology and human-consensus will help us overcome the greatest challenge in crypto: private key management and recovery.
- Community-based social network & messaging – a communication & DAO platform will enable communities to organize, govern and take action on local and global initiatives.
Principles
It is important to keep the design of this project as minimalist and as practical as possible. There is always room for future implementations and additional dividends with different designs, but our first implementation should strive to be best-in-class.
Key Design Objectives
- Open, public, transparent – The network should be open, public and transparent instead of pseudonymous or anonymous. This is particularly important to strengthen community-approved recovery methods in case users forget their private keys, get hacked or are a victim of identity theft. Furthermore, more transparent and public identity systems with public transaction graphs should discourage theft and hacks or deep fakes.
- Identity chain – The main function of the dividend chain is to maintain a repository of unique identities to distribute coins to. Hence, it will serve as a decentralized identity chain. Using the latest identity technologies that involve biometrics & cryptographic hashing, users can maintain control of their personal data while still being able to authenticate and access the network. To prevent duplicate identities, the dividend chain can leverage existing KYC providers for most developed countries, while creating another repository of IDs based on biometrics and an independent decentralized global ID system. It is important that users maintain control of their own biometric data. The system must be resilient against sybil attacks and fake identities.
- Convenient key management & recovery – The network should use multifactor recovery systems with webauthn, biometrics, family & friends, web-of-trust, but can ultimately rely on public consensus of public identity to arbitrate identity theft, hacks & lost passwords.
- Tech & chain-agnostic – The dividend chain should be tech-agnostic and should not favor any particular technology but fit its own chain-specific needs as an identity chain. The group will evaluate best-in-class consensus models.
- Proof-of-stake – Because of the chain’s universal distribution model, the Gini coefficient of ownership will likely be maximally decentralized compared to other networks and should minimize public concerns that there will be concentrated power among a small group of users. The economic consensus of POS should enable sufficiently secure node infrastructure and should complement whatever technological consensus system is used for the chain.
- Human consensus – alongside a strong technical & economic consensus, this identity chain should foster human consensus and leverage communities using web-of-trust models (eg. eigenvector & google page ranking algos) to determine identity as well as resolve identity conflicts to maintain proper token distribution and for key recovery. Because each unique human own a perpetuity in tokens, the voting power of each account can also consider future token distributions to balance pure stake-weighted governance based on just circulating supply.
- Foster interoperability standards – The dividend chain should foster interoperability standards and allow other cryptocurrency networks to plug in their unique users to receive dividends from the dividend chain to foster growth. Interoperability can be based on the level of grant funding from different cryptocurrency networks.
Other UBI, Crypto UBI and Related Projects And Potential Partners:
Worldcoin (https://worldcoin.org/)
ProofofHumanity.id (https://www.proofofhumanity.id/)
Circles (circles.garden)
Humanode (humanode.io)
Others:
English