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.
Currently only the Chinese UBIC coin (UCN) is listed on several echanges such as Citex.
To be compatible the passport should not have expired or be shortly before expiration (less than 3 months). It has also to 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! The coin emission is linear, in every block a constant amount of coins are minted and divided among the cryptoUBI recipients.
Note that UBIC burns all of the transaction fees, this reduces the amount of coins in circulation and the inflation
Yes! Transaction fees are dynamic so that the cost of a transaction is equal to about 6 hours of Universal Dividend payout.