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 specific portion of Bitenet tokens will be allocated to individuals who are identified as being in genuine need, such as low-income individuals, unemployed people, and the homeless. This will be facilitated through partnerships with social services, shelters, and community organizations to ensure that aid reaches those who need it the most.

• Verification Process: Decentralized Identifiers (DIDs) and verifiable credentials will be employed to ensure that recipients are genuine and meet the eligibility criteria. Local organizations and AI-based behavior analysis can help in authenticating users, reducing the risk of fraud.

Regular Payments:

• Consistent Income: Eligible recipients will receive Bitenet tokens on a periodic basis (e.g., monthly). These regular payments provide a steady stream of income to support basic needs, such as food, shelter, and other necessities.

• Simple Access: The tokens will be accessible through the Bitenet platform, where recipients can view and manage their funds. The simplicity of cryptocurrency transfers ensures that payments are both transparent and traceable, reducing administrative complexity.

Empowerment Through Financial Inclusion:

• Breaking Barriers: By providing UBI in the form of digital tokens, Bitenet allows recipients to participate in the digital economy, even if they do not have access to traditional banking. This promotes financial inclusion and helps individuals gain a foothold in the crypto ecosystem.

• Boosting Self-Sufficiency: With a consistent income stream, individuals can focus on improving their personal and economic situations, potentially lifting themselves out of poverty over time.

Funding the UBI Program:

• Platform Revenue: A portion of revenue from Bitenet’s transaction fees and staking rewards will be allocated to the UBI pool. This ensures a sustainable flow of funds to keep the program running.

• Community Contributions: Users of the Bitenet platform will have the option to contribute a portion of their staking rewards or participate in donation drives. These voluntary contributions will enhance the UBI fund and amplify its reach, allowing more individuals to benefit from the program.