Kickstarter, community energy, and bitcoin. Using the internet and blockchains we can self organize and create our own infrastructure. Applying blockchain we can experiment with finance based projects. A personal passion of mine has been UBI projects and digital currencies allow another possible solution. This allows for efficient provision of social services / benefits. There are small scale tests, using blockchain will allow these to scale larger with smaller overhead.
What it does
The public or businesses can give money to a public account. That account pays out it's funds at fixed intervals to all the registered payees. An administrator can register and un-register payees. The current balance is viewable publicly by any participant.
How we built it
This was built using Solidity smart contracts to do the logic, using JQuery. The front end interface is a payments page which allows anyone to pay in. The other page is an admin page, which allows editing payees & temporarily manually triggers payments.
Challenges we ran into
It was initially expecting to use TodaQ, but it was not what I was expecting. There are processing throughput limitations, while not problematic in a demo, would need to be dealt with in scaling the system. There also needs to be a cost efficient way of triggering the smart contract to enable it to run it's monthly payment schedules. Importance of rest.
Accomplishments that we are proud of
Creating a demo and discovering the real challenges that need to be solved.
What we learned
Limitation of processing throughput of solidity programs.
What's next for UBIDecentralized
Implement batched payments to manage data throughput. Work on various aspects of governance. Run a small scale test in partnership with a charity focusing on at risk groups of people.