



Technical Description

UBI-Vault technical overview.               14062019

UBI-Vault (1) takes Ethereum (crypto money) from sponsors, (2) UBI-Vault app registers users called citizens and
(3) UBI-Vault distributes Ethereum to citizens.

  1. Individuals,
    organizations and governments can sponsor Ethereum to the UBI-Vault`s public
    address. They can chose (directly on the UBI-Vault web-interface or re-directed
    to this interface from the mobile phone sponsor button) that their
    contributions are made public on the website.
  2. Individuals
    can register as a UBI-Vault citizen by using the UBI-Vault citizen mobile phone
    app. The app has the following fields to be filled in: First name, last name,
    address, city, country, public address of citizen`s wallet. This implies that
    the citizen has a wallet installed and is able to copy her public address to
    the app. An info field tells the citizen (a) how to get a wallet and (b) how to
    copy the public address to the app. The citizen`s public address is stored on the public Ethereum
    blockchain (a smart contract) so that it is added to the UBI-Vaults` distribution process (3). The other info is stored on the phone (for quick access for the status info) and on a web-server (checking for
    multiple registration attempts with different public addresses (multiple
    wallets) from the same name and mobile phone number). After successful
    registration the app shows status info e.g. about transfers from the UBI-Vault
    to the citizen`s wallet.

A             app checks for uniqueness of public
address (check against blockchain or web-server)

B             app checks for uniqueness of phone number with SMS verification

  • The UBI-Vault distribution sysem (smart contract)  has the following functions:

95% of incoming Ethereum is distributed among citizens, 5 % is for maintenance of
the system.

Available Ethereum= AE

Amount of citizens= AC

Amount of basic income=AB

Once a week when AE/AC> AB then transfer AB to every citizen`s wallet.

The UBI-Vault back end server controls the registration of the users` public wallet addresses in the UBI-Vault smart contract and initiates the smart contracts`distribution system.

BigchainDB will be used in the future for scalability and response time optimization