Friday , May 7 2021

The first cryptocurrency using proof-of-passport, hacker news


UBIC is a CryptoUBI, which means that most of its coins are distributed directly to its users in the form of a universal dividend, sometimes referred to as a freedom dividend or universal basic income.


In order to ensure fair distribution and to avoid double claims, every participant in the Universal Dividend Program must verify himself using his passport.


This is done by reading the unique digital signature the government apposed in the NFC chip included in your passport. Your personal data such as your name or facial image are not read out during this process and your identity remains hidden from the other UBIC participants.


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