UBI tokens: a new kind of crypto
What the next 1,000 cryptocurrencies will look like
A few years after Bitcoin launched, people started forking Bitcoin and launching competing chains, called "altcoins." Hundreds of altcoins were launched that way.
Then Ethereum came along, and suddenly CoinMarketCap had a thousand new tokens listed on it. All of them ran on Ethereum as a smart contract, with no need to launch an entire blockchain just to get a new token running.
We are probably going to see a wave of "security tokens," that is, tokens that represent legal shares of companies. That's going to easily spawn another thousand tokens.
And then we are going to see the Universal Basic Income (UBI) token. There will be thousands of such tokens as well.
An UBI crypto token is a token that pays itself to people automatically. You get a recurring balance of an UBI token just for existing and for registering an account or wallet for that token.
Currently, there are some Crypto UBI tokens, but they were all created by launching their own ID system, as you need to avoid paying a duplicate Basic Income to the same person. The explosion of UBI tokens will happen as soon as there is one blockchain that can automatically identify the people behind the wallets or accounts for its smart contracts. Then, implementing a Crypto UBI economy will take a week instead of a year, and individuals will be able to do it, without needing to start their own company.
EOS is planning an UBI system of its own, based on Name and Photo of its users. WORBLI has KYC (ID verification) for all of its accounts, which could be leveraged to provide user identification. UOS has a social network integrated into its account system, and the social network could be leveraged to provide some sort of identity guarantee to smart contracts.
Which blockchain will provide the best ID service and the best developer experience for the next 1,000 Crypto UBI tokens?