This is Damian from AcroEOS,
Today I’m going to write about UBI, URI, and Proof Of Life that the EOS community has been discussing talking about lately. After Since the mainnet launch, Dan Larimer has been participating as an EOS community member and has shared his opinions on RAM, constitutions, and various problems that have has occured on the EOS mainn main net. But lately he has been more focused on talking about UBI URI. Before I start begin talking about the Proof Of Life I want would like to explain a little bit more about UBI and URI.
UBI and URI by the definition
UBI : Universal Universe Basic Income
URI: Universe Resource Inheritance
UBI is not a new term that Dan Larimer has made created, but it is a the social policy that many countries are currently experimenting with lately. Basically UBI is minimum income you receive by just existing. In a traditional system it comes from the tax money, but on EOS Danlarimer Dan Larimer has proposed to it could (it has to be voted in by referendum) come from 4% inflation that is planned was originally designated for funding WPS usage. As it what Dan Larmier is proposing differs from traditional system UBI, the community has decided to call this URI rather than a UBI.
*From below this line I will call UBI, as URI
Dan Larimers thoughts on URI
Dan Larimer has proposed to use the 4% inflation that is planned was originaly designated for WPS to be used to fund URI. Dan Larimer's main targets for URI is for helping humanity as he mentioned on the chat. I think its to give every individual a minimum amount of resource to use the EOS network.
But the The problem with the URI is that it is hard to be implemented on software since people can could possibly make multiple accounts. For example on facebook and google individual can make multiple accounts and pretend to be a different person. Since it is hard to verify individual people on software URI is likely believed by some to be abused easily (by Individuals making multiple accounts and claiming URI from all of them) . In order for the URI to work properly it is important to establish a system that in which an individual could create a maximum number of one account.
When Dan Larimer has proposed his concept of URI, the community has raised the question on this multiple account abusing issue, Dan responded by saying that he has already found a solution for this problem and he called it its Proof Of Life.
A community member that goes by the moniker ‘Tequila’ has raised another important question with Dan on people using other individuals identity to claim the URI benefits, to which Dan responded, No, I have found a way to stop this kind of abuse.
Below are some hints that Dan Larimer has given on ‘Proof of Life’
Dan has said you would only need to put your picture and a name on the chain for “Proof Of Life” you are not going to put your finger print, DNA sample, Retina and bio-metric information on block chain.
Another user, Kevin McSheehan, has said that all these kind of technology to identify a individuals, including Device/ IP /Geolocatiion/Blacklisting/rate limiting are beatable claiming that it is difficult to create a hackproof system. Dan’s answer to this was ‘Collaborative’ and that it is a continual process which needs ‘Proof Of Life’ and will be a low burden process.
Bright ID creator, Kevin, asked if its like Bright ID where people use trust graph to identify individual? Dan’s answer was that Bright ID has flaws and that on fake social graphs could exist, which means it is not like Bright ID trust graph system.
Brendan Blumer interview mentioning about ‘EOS Life’
Before the Main-net launch Brendan Blumer visited and was interviewed in Korea. During this interview Brendan mentioned that Block.One is working on identification dApp project and its code name is ‘EOSLife’.
In the interview Brendan also mentioned that EOS Life is a project that can help other applications. If Block.one has figured a way to identify individuals on chain than EOS Life will provide API to the dApps to identify their users.
Current Problem with EOS
As I have experience working as a BP I had chance to talk with many EOS dApp projects teams in Korea. Their main concerns about the EOS project was the number of users on the current EOS system. Currently EOS main-net has about 310 thousand accounts created. This number is quite small for traditional gaming and application businesses. This small number so creates risk for people who are building or developing on EOS (targeting small amount of clients)
I personally believe that there are more people holding EOS than 310 thousand. There are many EOS holders still holding thier tokens in Exchanges accounts. In my view, this is why there are many EOS holders, but not many EOS accounts on the EOS main-net. Reason being that people have approached EOS as investment and so they have never bothered to exodus the exchange and create their own account. I believe Dan also knows this very well and URI would be the perfect motivation or incentive for these community members to create an account on EOS main-net and transition from being simply an EOS investor to an active community member and account owner. If the number of EOS accounts increases, EOS would be a good ecosystem for dApps to start their business.
If Dan has found a method (Proof Of Life) to limit every individual to actually creating one unique person account, ‘ for the purpose of recieving ‘URI’, this should accelerate adoption. Proof Of Life will be the concept that could take block chain to the next level and accelerate the real usage of block chain. It is possible that we can even make a new voting system on EOS projects to vote with only the account using proof of life, vote by account rather than EOS token.
4% inflation on EOS main-net
< EOS inflation Rate >
Currently no one knows, but Dan, what ‘Proof of life’ entails. All we can do is to wait and see if this could actually stop people from creating multiple identified accounts. Then we can decide if using this 4% inflation that EOS has to do it.
At the present time the 4% inflation creates 33 million EOS tokens every month, and we have about 310 thousand accounts created. If we assume these accounts are created by unique individuals then 106.45 EOS will be distributed to each accounts per month. Obviously, as the number of accounts using ‘Proof Of Life’ increases, distributed EOS to individuals will be decreased. Right now the community is on debating on URI throughout the world and EOS Node one is conducting polls regarding the 4% inflation usage. Please add your opinion to the poll.
[NodeOne] Poll regarding using 4% inflation
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