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UBICredit: First Proof-Of-Use(POU)Blockchain looking for blockchain developers to join Github project

globalcredit profile image GlobalCredit ・3 min read

Project Name: UBICredit(UniversalBasicIncomeCredit)
Protocol: Proof Of Use(POU)
Blockchain: UBICredit
Coin: UBI

Introduction: Hey community, I've come up with a protocol called POU(Proof-Of-Use), I'm looking for a select few who are experienced with blockchain development who would be interested in helping make this Github project come to life. I've included some information about the concept below but i expect some ideas to change throughout development. Essentially this idea is a way to provide UBI which is pooled from a 1% transaction tax and is shared amongst everyone including governments for social development & infrastructure & economic stability. Those who use the blockchain are essentially contributing to the economy and are therefore rewarded an equal share from the UBI weekly credit. I believe that if this blockchain is developed right it can benefit literally every social group and promote global economic bartering. Businesses who transact with UBI will also not have to worry about falling under because as long as they are transacting they will receive a UBI weekly payment.

For those who still don't understand the idea, UBI payments are not from new printed coins but pooled transaction tax that is essentially distributed continuously to those who continuously transact and or secure the blockchain. If you would like to join this project you can either email me or provide your Github username below to be invited to the project.

Total Supply:
• 29,288,096,877 UBI Max Supply
• 15 Billion UBI will be held in the company wallet.
• 10Billion UBI will be distributed to world leaders to build with UBI and support their citizens with a universal basic income which is paid from transaction tax.
• 6,288,096,887UBI Offered as a founder reward for those who use UBI.
• Offering 4 month founder rewards for those who help make this idea possible.

Transaction Tax:
• Every transaction sent out will be taxed a fee of 1%.
• Transaction Tax is pooled in 1 wallet for equal distribution.
• Wallet address changes every time a payment is issued.

UBI Users:
• Every week UBI Users/Contributors who use UBI Weekly will be reward with UBI Tax Credit.
• UBI Users who fail to barter/use/send UBI to other uses will not qualify for UBI Tax Credit for that week.

UBI Tax Credit:
• Transaction Tax pool is equally distributed to those who "use"or"transact" on the blockchain weekly.
• Those who transact using UBI must transact weekly to receive a share of the tax pool.
• This credit is essentially a way to stimulate constant bartering in the community.

Founder Rewards:
• Founder Rewards are a way to reward early contributors/users of the blockchain.
• Founder Rewards are issued to those who transact with UBI & rewards paid out weekly every Sunday Night.
• Founder Rewards will be offered for 4 months with deflationary rewards every month until the 6.288Billion UBI Cap is reached.

Node Reward:
• Those who run nodes will be rewarded a share of the UBI reward for securing the blockchain.
• If those who run nodes & also transact with UBI then they will essentially receive double the usual payment then someone who does not run a node.

Sponsor The Development:
If you like the idea of POU or you are simply feeling generous.
Please feel free to sponsor this project! Thanks!
Litecoin: LN9WM17hmRNCELXswCvDFVGQwccKP1AmYM

Github Project:
https://github.com/UBICredit/UBICredit
Contact Email:
UBICredit@gmx.com

What Is POU?
Proof Of Use(POU) is a type of consensus algorithm by which a cryptocurrency blockchain network achieves distributed consensus. In POU based cryptocurrencies the protocol collects a 1% fee from all active users who 'transact' with the currency and distributes that pooled fee back weekly(periodically) to those 'active user wallets & node runners' as a way to collectively distribute a 'equal/fair' universal basic income to the 'users/contributors' of the currency for economic purposes. This protocol is backed by 'use' and is protected by network nodes who receive an incentive which is double the UBI payment then those who simply just use the currency.

Advantages: Essentially the protocol behind 'POU' is the ability for active wallet holders to be rewarded for transferring UBI coins to each other continuously, as each transfer takes place a 1% transaction tax fee is charged and collected in a pool wallet to be later distributed as a credit to all active ‘using’ wallets. Those who ‘DO NOT USE’&'DO NOT SECURE' the coin will be denied the 'Universal Basic Income Tax Credit' that is pooled from the 'transaction tax fee pool' and distributed as a weekly credit. This protocol is to ensure 'bartering is continuous' in the economy and those who do not contribute to the economy are not reward for 'failing to use’. The idea is to distribute wealth to those who use or protect the blockchain. GlobalCredit is looking for potential open source developers to help make this concept into a reality.

Thanks For Reading,
UBICredit

Posted on May 25 by:

globalcredit profile

GlobalCredit

@globalcredit

Developing The First Proof-Of-Use Blockchain

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