The concept behind Universal basic income is a relatively new concept although it is catching up with several nations. The basic pay entails a form of social security to a resident or citizen of a particular area of jurisdictions, for free. The idea is often to help get rid of poverty and help reduce the wage gaps within the society. Now, thanks to the blockchain we are set to have an official primary income system that is free from the manipulation of our current government system. Today you get to learn about a blockchain project is set roll-out a crypto Basic Income program.
What Is Swift Demand?
SwiftDemand is a basic income blockchain experiment that will reward its users a 100 token each day. Users will only have to sign up to 100 tokens or use a referral link and get 500 tokens. The concept with SwiftDemand is to utilize blockchain and in cryptocurrency, in particular, to offer the people on its platform a fixed amount of income. Ideally, SwiftDemand wants to create a sort of neutral society that does not judge one based on the value of fiat currency.
Swift Demand Ecosystem
SwiftDemand will create a financial marketplace and a transactional currency that will build the first income ecosystem. The ecosystem will consist of:
- Citizens- Swift Citizens will work under an Identity provider with one unique individual account from where daily tokes will go.
- Entities- will comprise of firms and organizations that do not connect in any way will not receive the Basic Income
- Delegated Nodes- help to maintain the network nodes and aid the creation of new blocks for the tokens. Swift Citizens have the option to vote on the defeated nodes as they also act as elected officials with the power of delegate nodes.
- ID providers- Identity Providers, will ensure the creation of your Swift Citizenship identity through the generation of a key pair
How Swift Demand Basic Income Project Works
While Swift's coins might work on an endless supply concept; there are plans to cut off registration once the platform hits five million members. Additionally, that also means the bonuses will no longer exist on the platform. SwiftDemand is also said to work on a different centralized currency that focuses on the last step towards creating a utility source for the coins. Initially, a user had to register to get the 100 tokens. As of now, SwiftDemand is set to increase once again thanks to the portal.
Ways To Earn With Swift Demand
- Referrals program- any users who successfully introduce a new friend to SwiftDemand will get a 500 bonus token in their account
- Bonus and promotions- the daily gift will feature a 100 bonus rate for the token users, which is easily traceable through the SwiftDemand marketplace
Is Swift Demand Viable?
Although universal, necessary income experiments in the world are yet to become fruitful; the concept is gaining pace and attention as a solution. Additionally, the income still needs very much work although the project is positive on their progress. Consequently, that means SwiftDemand could be of much value in the coming future even though it still too early to judge. The critical thing is to remember that the token does not hold any value outside the ecosystem and the importance of competition within the market could spell doom.