Proof of Humanity registrants receive 1 UBI per hour.
At the time of writing, each UBI is trading at $ 0.047.
The creator of Ethereum, Vitalik Buterin, certified to be a real human according to the slogans of the Proof of Humanity (PoH) platform. Since yesterday, July 18, your identity has been tokenized on the Ethereum blockchain and, if no one proves that your certification is false or that you have made a mistake, in 2 days you will start receiving a basic income in the UBI token.
“I certify that I am a real human and that I am not already registered in this registry,” says the 27-year-old developer in the 4-second video uploaded to the network. In compliance with the PoH regulations, along with your verbal statement, you display a computer screen on which you see one of your Ethereum addresses.
Proof of Humanity, a project led by Federico Ast and Clement Lesaege, seeks to associate identities of verified individuals with their respective Ethereum addresses.
Verification requires another user to certify its existence, or in PoH slang, to “vouche” it. In Buterin’s case, the “voucheo” was done by Ning Fidel, Kleros’ assistant general, a conflict resolution protocol used in PoH.
The PoH website presents it as “a system that combines trusted networks, reverse Turing testing and dispute resolution to create a Sybil attack-resistant human roster.”
Several are mentioned possible use cases for a system with these characteristics. Among them, the development of decentralized autonomous organizations (DAO) with verified human users; quadratic financing; the certifications in the blockchain; social recovery purses; credit score on DeFi; launching airdrops; and antispam tools.
Universal basic income in the UBI token
One use case that is already up and running is delivery of a basic income in the Universal Basic Income (UBI) token for all those registered in Proof of Humanity.
Each verified human receives one UBI per hour. At the time of writing, each UBI is worth $ 0.047, as seen on CoinGecko. Therefore, the income you get is around USD 1.41 per month.
At the time of writing this article, the basic income obtained with UBI is USD 1.41 per month. Source: CoinGecko.
According to the Argentine developer Santiago Siri, director of the Democracy Earth organization, which is behind the UBI project, the objective is that the income earned by each person is a few “hundred dollars a month.”
This was achieved during the first months dthe project, but the UBI token could not decouple from the price of the rest of the cryptocurrencies. As CriptoNoticias has reported, following in the footsteps of bitcoin (BTC), the entire crypto-asset market, in general, has been in the red since May.
The arrival of Buterin to Proof of Humanity raised expectations in some UBI holders regarding a possible price increase. “What good news about Vitalik (founder of ETH) joining PoH right? Hopefully this takes PoH to the clouds, “wrote a member of the Telegram group” Proof of Humanity in Spanish “yesterday. “Elon Musk needs to join and we face bitcoin,” said another user. Until now, the expected increase in the price of UBI has not occurred.
Despite the current price that does not favor those who receive UBI, the community around this project remains hopeful. For example, Felipe Álvarez, founder of the Colombian initiative REDmocracia, wrote in the aforementioned Hispanic Telegram group: “all of us here understand that this is going to be very big.”
Own Buterin is optimistic about PoH. As reported by this medium, the Russian-Canadian developer is a member of the Proof of Humanity Telegram group in English and, on occasion, has interacted with the participants. Buterin sees “decentralized governance and airdrops like UBI as definitely the two most important use cases” for PoH.
Other recognized personalities who receive UBI for having tokenized their identity in Ethereum are the CEO of MercadoLibre, Marcos Galperín, and former Argentine basketball player Emanuel “Manu” Ginobili.