What is UBICoin?

UBICoin  is a Universal Basic Income.  UBICoin generates value without mining, using time as its proof of stake.  Every wallet earns UBICoin at the same rate.  You can exchange UBICoin through a simple QR Code interface.  UBICoin...

What is Universal Basic Income?

Feeling "In-The-Dark" about UBI? Let's change that!

People have a LOT of different ideas about Universal Basic Income. Actually, UBI is a simple idea that has been around for a long time in many forms and in many countries throughout history. Here is our list of unbiased, fact-based research and definitions for UBI - hand-picked to be easy to read and easy to understand:

Paying with UBICoin

Paying with UBICoin is a simple process:

1. The person being paid clicks GET PAID and shows the BLUE QRCode

2. The person paying clicks PAY and scans the BLUE QRCode

3. The person paying enters the amount to pay, clicks PAY and shows the GREEN QRCode

4. The person being paid scans the GREEN QRCode and is now paid

If you are paying with UBICoin at a store, you or the cashier will click PAY STORE instead of GET PAID on the store's smartphone. The rest of the process is the same.

Accepting UBICoin in Your Store

UBICoin can easily be accepting in your store, and supports a "Store Mode" that is locked and unlocked through Biometric Authentication. When your UBICoin wallet is in store mode, people can only pay you UBICoin. UBICoin can only be transferred into your wallet, not out.  While in Store Mode, the only function available is "Pay Store", which initiates the regular payment process.

UBICoin Notes

The whole focus of UBICoin is community care. Guaranteeing that all human beings have thier basic needs met is a form of structural care and community care. UBICoin allows you to create, edit, and share information with other members of your community through the same simple QR Code interface.  You can simply write a note and click "Share" - this will change the note into a QR Code that can posted around your community. Notes can be encrypted, as well, if you would like that extra layer of security. Encrypted notes will require a password to read them, so you would normally only share this password to people in your community.

How Can I Help?

The best way to increase the strength and value of UBICoin is to SHARE it.  Tell all your friends, co-workers, business partners, and family. Post about it on social media! 

Use that SHARE button 

Just like any currency, UBICoin derives its value from the people who use it.  In the simplest terms, UBICoin has value to you because you can exchange it for the things that you want.

If you want to buy things with UBICoin at a local store, for example, ask them if they take UBICoin. Sure, you'll get some strange looks at first, but don't be discouraged. All it takes is one circle of transactions to create your own micro-economy; and UBICoin is intentionally designed to support micro-economies. Get out there and ask "And who is YOUR supplier?" Just follow the supply chain, and it will eventually come full-circle. Once you have identified that circle of transactions, and everyone has agreed to accept UBICoin, your micro-economy can start accepting UBICoin.

Paying Offline

UBICoin is designed to encourage and support face-to-face interactions with your community.

However, meeting people in-person may not be possible. The person you want to pay may live on the other side of the world!

If you and the person you are paying still have access to the internet, then you can transfer UBICoin using a video conference call. You will both show your QRCode to your webcam and scan your QRCodes directly from your monitor. If you or the person you are paying do NOT have access to the internet, or you cannot meet in-person,  or you just don't want to use the internet, you can still use UBICoin! 

Simply use the built-in One-Way-Pay! This will generate a unique payment QRCode and a set of security questions that the person you're paying can answer.  The payment can only be unlocked if all the questions are answered correctly. This QRCode and its questions can be printed out, faxed, or mailed. Once a One-Way-Pay token is used, it is destroyed, so it can never be used again. This guarantees that no one else can make a copy of the payment.

Hoarding Prevention

UBICoin is specifically designed to prevent hoarding or hiding wealth. You could try (for example) to create a large number of wallets to keep the balance of each wallet low (and, thereby, keep the burn rate low). UBICoin, however, can only be transferred through a manual process. 

A QRCode must be generated and scanned for every transfer, either face-to-face or through a video conference. Even the One-Way-Pays have an expiration date, so you can't simply print-out your UBICoin and store it indefinitely. UBICoin is specifically designed so that, as each plateau of burn rate is reached, an increase of three orders of magnitude in labor would be required to distribute that wealth. So, for example, keeping 1 billion UBICoins down to the 1 million burn rate would require 1000 people making transfers every hour.  In other words, it's just not economically feasible to try to hoard wealth.

Why is UBICoin Valuable?

Just like any currency, UBICoin derives its value from the people who use it.  In the simplest terms, UBICoin has value to you because you can exchange it for the things that you want.

"Prominent among critiques of capitalism are accusations that capitalism is inherently exploitative, alienating, unstable, unsustainable, and creates massive economic inequality, commodifies people, and is anti-democratic and leads to an erosion of human rights and national sovereignty while it incentivizes imperialist expansion and war, and that it benefits a small minority at the expense of the majority of the population." - Wikipedia

UBICoin is not backed by commodities, or CPU cycles, or hours of work, or even loans. All of those things can be manipulated, monopolized, exploited and are inevitably unsustainable. UBICoin, instead, is backed by time. Your time, specifically.

Time is the only level playing field. Time moves forward at the same rate for everyone. Time cannot be exploited because everyone always has access to time. We may choose to do different things with the time we are given in this life, but time keeps presenting itself to each of us every day. We are each given 24 hours every day.

Double-Spend Prevention

Anything digital can be easily copied - including digital currencies. When someone makes a copy of a digital currency, effectively allowing that person to spend it multiple times, that is called the “double-spend” problem. 

UBICoin solves this problem through the use of a OTP (a “one time pad”).

“In cryptography, the one-time pad (OTP) is an encryption technique that cannot be cracked, but requires the use of a single-use pre-shared key that is larger than or equal to the size of the message being sent. In this technique, a plaintext is paired with a random secret key (also referred to as a one-time pad). Then, each bit or character of the plaintext is encrypted by combining it with the corresponding bit or character from the pad using modular addition.” - Wikipedia

Transferring UBICoin requires the creation of an OTP. When the payee shows their BLUE QRCode, that is part of the OTP - and it is good for only 1 transaction. When the payer shows their GREEN QRCode, that is the transaction data encrypted using the OTP. The OTP is destroyed on the payer side as part of creating the transaction QRCode. Now, the only person that has the OTP, and the only person who can receive the payment, is the payee. Once the payment is received, the payee’s OTP is destroyed as part of the receiving process.

As of June, 2023, no successful attack has ever been demonstrated against the strong encryption that UBICoin uses. Additionally, even if an attacker successfully cracked the strong encryption, they would not be able to guess the OTP.  This is how UBICoin prevents the double-spend problem.

Who is Lakehome Games?

Welcome to Lakehome Games, where creativity meets impact in the world of gaming! 

We are the people who made UBICoin. We are not your typical game development studio; we are a passionate group of visionary creators dedicated to crafting immersive experiences that drive positive change in society.

At Lakehome Games, we believe in the extraordinary power of games to inspire, educate, and foster empathy. With a mission to make a meaningful difference, we use the language of gaming to address real-world challenges and ignite conversations that matter. Our games transcend entertainment, propelling people into thought-provoking narratives that challenge perceptions and reshape perspectives.

What sets us apart is our unwavering commitment to social change. Every game we craft is meticulously designed to tackle critical issues that affect our world – from environmental sustainability and social justice to mental health awareness and beyond. Through captivating storytelling, engaging gameplay mechanics, and interactive experiences, we invite players to explore the complexities of these issues and become active participants in driving transformation.

Our team of diverse talents brings together game designers, storytellers, artists, and developers who share a common goal: to create gaming experiences that leave a lasting impact. With a dedication to authenticity and cultural sensitivity, we ensure that each game resonates with global audiences, fostering understanding and unity across borders.

Join us on a journey beyond entertainment, where gaming becomes a catalyst for positive change. Experience the thrill of innovation as you dive into worlds that not only captivate your imagination but also empower you to make a difference. Together, we're crafting games that inspire conversations, challenge norms, and ultimately shape a better tomorrow.

Discover the next level of gaming at Lakehome Games, where innovation meets purpose, and every virtual adventure becomes an opportunity for social change. 

Are you ready to play your part in shaping a brighter future?