swiftdemand is a platform that provides swift as universal basic income. At the moment swifts are stored centralized on the webpage and cannot be transferred. It can be used to buy something on the internal market place. Each user receives 100 swift a day. The swift has to be claimed manually by going to the website.
As soon as the swift blockchain is working, all swifts are converted at a 1:1 ratio.
ICO
swiftdemand starts a token sale right now. A token sale on a UBI token does not make so much sense to me, but the development and the servers have to be paid of course.
The token price is determined by a dutch auction starting at 1 ETH = 5,000 SFT. The price is going down every 10 minutes until 1 ETH = 1,000,000 SFT is reached. 200,000,000 SFT are available in this ICO.
You have register today (8.4.2018, 18:00 UTC) if you want to participate.
Development
They forked their protocol from neo-project/neo, so swift seems to be an NEO based blockchain.
You can see the fork state here:
Until now, there is not much activity there. Only some comments are translated into english.
There is maybe a non-public development in the background. As I can see, nothing substantial was uploaded to github yet.
There is also a modified copy of neon-wallet available: https://github.com/zaguios/swift-js
Whitepaper
You can find the whitepaper on github.
- Not mention NEO, only EOS as a reference how many TPS are possible.
- 4 different account types:
- Swift Citizens
- Swift Entities
- Delegated Nodes
- Identity Providers
- Each user has to be validated by Identity Providers to become a Swift Citizens and can vote for Delegated Nodes
- Two phases of the income distribution
- Each day each user receive
1 <= (781250 / (5^(log10(users))) <= 100. - After the 70 Billion cap has been reached, income is taken from inflation. The inflation rate is decided by delegated nodes.
- Each day each user receive
- The income is multiplied by Region Multiplier (0.01x to 1.0x)
Summary
Interesting realization of providing universal basic income to everyone. A good solution to the problem that user has to be verified in order to prevent abuse is implemented. The swift blockchain is decentralized and controlled by Delegated Nodes which are elected by swift citizen .
At the moment there is only a whitepaper and a website. It is not clear how the swift protocol is realized.
What do you think about swiftdemand and their ICO?
When you register through my Referral Link:
https://www.swiftdemand.com/?referred_by=holger80
i will receive 500 swift.