UBIC is a CryptoUBI, which means that most of its coins are distributed directly to users in the form of a universal dividend. This is sometimes referred to as a freedom dividend or universal basic income (UBI).
In order to ensure fair distribution, and to avoid double claims, every participant in the Universal Dividend program must verify himself using his passport.
Verification is done by reading the unique digital signature the government appointed to the NFC chip 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.
Currently, only the Chinese UBIC coin (UCN) is listed. They are on several exchanges, like Citex.
To be compatible, your passport should not have expired or be shortly before expiration (less than 3 months). It has to also be a passport issued by one of the following countries:
With UBIC, the universal dividend is paid out in every block. This means that you will receive a tiny amount of UBIC every few minutes.
No! Because the coin emission is linear, a constant amount of coins in every block are minted and divided among the cryptoUBI recipients.
Note that UBIC burns all of the transaction fees, which reduces the number of coins in circulation and the risk of inflation.
Yes! Transaction fees are dynamic so that the cost of a transaction is equal to about 6 hours of Universal Dividend payout.