swiftdemand is a platform that provides swift as universal basic income. At the moment swifts are stored centralized on the webpage and cannot be transferred. It can be used to buy something on the internal market place. Each user receives 100 swift a day. The swift has to be claimed manually by going to the website.
As soon as the swift blockchain is working, all swifts are converted at a 1:1 ratio.
ICO
swiftdemand starts a token sale right now. A token sale on a UBI token does not make so much sense to me, but the development and the servers have to be paid of course.
The token price is determined by a dutch auction starting at 1 ETH = 5,000 SFT. The price is going down every 10 minutes until 1 ETH = 1,000,000 SFT is reached. 200,000,000 SFT are available in this ICO.
You have register today (8.4.2018, 18:00 UTC) if you want to participate.
Development
They forked their protocol from neo-project/neo, so swift seems to be an NEO based blockchain.
You can see the fork state here:
Until now, there is not much activity there. Only some comments are translated into english.
There is maybe a non-public development in the background. As I can see, nothing substantial was uploaded to github yet.
There is also a modified copy of neon-wallet available: https://github.com/zaguios/swift-js
Whitepaper
You can find the whitepaper on github.
- Not mention NEO, only EOS as a reference how many TPS are possible.
- 4 different account types:
- Swift Citizens
- Swift Entities
- Delegated Nodes
- Identity Providers
- Each user has to be validated by Identity Providers to become a Swift Citizens and can vote for Delegated Nodes
- Two phases of the income distribution
- Each day each user receive
1 <= (781250 / (5^(log10(users))) <= 100. - After the 70 Billion cap has been reached, income is taken from inflation. The inflation rate is decided by delegated nodes.
- Each day each user receive
- The income is multiplied by Region Multiplier (0.01x to 1.0x)
Summary
Interesting realization of providing universal basic income to everyone. A good solution to the problem that user has to be verified in order to prevent abuse is implemented. The swift blockchain is decentralized and controlled by Delegated Nodes which are elected by swift citizen .
At the moment there is only a whitepaper and a website. It is not clear how the swift protocol is realized.
What do you think about swiftdemand and their ICO?
When you register through my Referral Link:
https://www.swiftdemand.com/?referred_by=holger80
i will receive 500 swift.
I clicked on swiftdeamnd daily for a few months now. It is a great idea. I have no idea if it will come to fruition. It is a lot further behind Manna in terms of their progress.
The idea of basic income is worthy and I really do hope more projects like this get off the ground. I am very high on the team at Manna and what they accomplished so far. At this time, they are light years ahead of swift.
We will see what the swift team can put together. The fact they are having an ico is a good step. Having a token that people can actually do something with is a major hurdle. Getting on an exchange allows people to cash out of they choose.
Their desire mirrors a number of other ones that I read about (being a defacto currency, having all kinds of businesses on the blockchain, etc...).
They have a long way to go in my opinion.
I believe that a universal basic income must be established by governments or by the UN because a universal basic income has to have immense resources and capital. That can not be provided by some coin.
I do not get it how the invention of Blockchains can help us establish something like that.
A coin that is provided as UBI can be useful when it is used for exchanging services or goods.
yeah but paying it in BTC or Dollar/Euro would just be simpler
the problem currently is, that more and more people cannot take part in the economy, because they dont have access to enough money. The current interest based system increases this year by year. Therefore a currency that is widly distributed can even compete to dollar or bitcoin, because both suffer more and more the distribution problem. Therefore paying with an basic income currency can become much more widly used and easier then paying with BTC, because people simply have access to the currency.
@arcurus I see your point but the problem is that it currently still is too difficult for most people to even use Bitcoin... How should they be able to use 5 different currencies?
true, currently its too difficult to use for normal people.
Technically it can go as easy as credit cards / paypal. Also the internet was difficult to use in the beginning.
In the mid term only two currencies are needed. The local currency like dollar and the global basic income currency. In the long run the basic income currency will dominate all other currencies, still there will be more currencies, but same like dollar only one currency will be mainly used.
Nice
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