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I'm not sure UBI's issues are technical, and that you can just solve it with the blockchain. But it still looks rather exciting! I hope we'll get the code runn
by cdancette 9y ago
I'm not sure UBI's issues are technical, and that you can just solve it with the blockchain.
But it still looks rather exciting!
I hope we'll get the code running soon, the white paper lacks some details to understand in depth the protocols. (Is there PoW ?)
Btw, I don't get what is "minting". This is not really explained. Is it like mining?
Are people expected to run a miner on their personal computers? Or do the coins appear automatically, based on the age of the account ?
- baddox 9y agoI would guess that the creators and proponents of this idea don’t see it as merely providing solutions to technical issues with UBI. This idea is much more than “a standard UBI proposal except using blockchains.”
- lucozade 9y agoI think the idea is that the contract just produces more coins on a schedule. As you can't arbitrarily start accounts (at least that's the thinking), it's the equivalent to the state handing you some money periodically. Mining wouldn't be necessary as the rate limit would be account creation.
- fastball 9y agoFrom what I can tell: 1. Each individual gets their own coin. 2. The algorithm is PoS, so as they add people to their network the coin becomes decentralized, but doesn't start out that way.