Universal Basic Income through Bitenet

Bitenet believes that everyone should be able to eat.

Bitenet aims to integrate the concept of Universal Basic Income (UBI) to support individuals in need, particularly targeting those experiencing economic hardship and homelessness. By integrating this UBI initiative with the platform’s features, Bitenet aims to provide meaningful assistance and enhance community welfare.

How Bitenet’s UBI Works:

Targeted Distribution of Bitenet Tokens:

• Focused Assistance: A portion of the UBI distributed will specifically be allocated to individuals identified as being in need, including low-income individuals and the homeless. This could involve partnerships with social services and community organizations to ensure effective reach.

• Regular Payments: Eligible recipients will receive Bitenet tokens on a periodic basis (e.g., monthly), providing a consistent source of income to support their basic needs.

Partnerships with Foodbanks and Homeless Charities:

• Foodbank Integration: Bitenet will collaborate with local foodbanks to facilitate the use of tokens for purchasing essential food items. This partnership ensures that the UBI directly contributes to alleviating food insecurity.

• Charitable Donations: Users of the Bitenet platform can choose to direct a portion of their staking rewards to support foodbanks and homelessness charities. This helps bolster community support and amplifies the impact of the UBI program.

Funding the UBI Program:

• Platform Revenue: The UBI initiative will be supported by revenue from platform operations, such as transaction fees and staking rewards. A dedicated portion of these funds will be allocated to the UBI pool.

• Community Contributions: Users who engage in staking or other platform activities can voluntarily contribute to the UBI fund, enhancing its capacity to support those in need.