What is Universal Basic Asset? A Detailed Guide
Is Universal Basic Asset (UBA Finance) worth your time given the level of interest it has got from customers? Around 10,000 people mine for free online every day. How much money can he make you?
As we all know cryptocurrency's trade volume is at its peak. In the cryptocurrency industry, people frequently become wealthy and obtain significant airdrops simply by paying attention to a few projects ahead of time, spending the time to understand them, and participating in them. Nearly 300 million people worldwide own some kind of cryptocurrency.
What is UBA?
Universal Basic Asset is a concept designed to provide every individual with a portion of shared resources which include natural resources, intellectual property, or digital platforms. Its main purpose is to reduce inequality and empower individuals in different fields of social and professional life.
UBA provides a foundational set of resources like housing, education, healthcare, and financial stability. The primary objective of UBA is to provide a sustainable future by providing benefits of technology and development to each member of society equally.
Universal Basic Asset employs zero-knowledge proof to provide a layer of user data privacy. Users can still validate their identification tags and their own identities through this privacy layer without revealing any personal information to the chain. As a result, the SocialFi network and the Decentralized Identity (DID) system in Web 3.0 are created with privacy in mind.
Need for UBA
In 2010, 288 of the people had as much wealth as the collective wealth of 3.5 billion poor people on Earth. In the past few years, the wealthiest people have had more assets than the bottom half of the world’s population only eight.
This means that these few people are having much more than they should have while a lot of people do not even get the basic needs of living. We have to navigate this dilemma between wealth concentration and wealth distribution. The equilibrium between these two is missing these days not only in developing countries but also in some developed nations such as the United States.
There are relatively high levels of growth and large income inequalities. To get rid of this inequality and regain the stability in livelihoods of a lot of people, the Institute for the Future proposed a framework known as Universal Basic Assets which identifies a fundamental set of resources of every member of society according to his needs.
UBA vs. UBI
Universal Basic Income provides regular cash payments without conditions, while Universal Basic Asset refers to and focuses on expanding what is commonly shared and available for all. This makes it possible for resources such as knowledge, culture, land, water, air, and digital platforms to be accessible and available to everyone.
Types of Assets
In the UBA work manifesto, we focus on three basic types of assets:
This includes money, land, and housing which are personal belongings of a specific person.
These include the infrastructure and services like health, education, and public facilities.
Open assets are the growing category which includes digital assets available freely for everyone through digital platforms. Expanding from Wikipedia and online education resources, artificial intelligence tools and much more are available for everyone and are growing day by day.
UBA is not a single policy; it is a flexible framework adaptable to different circumstances. The main initiatives of UBA are as follows:
This finance provides a secure social system and decentralized identity system where users can mine their tokens to basic devices. It provides access to metaverse systems and digital assets.
IFTF’s UBA Manifesto
This manifesto provides a vision and strategy for building a more flexible society by expanding the commons of natural resources that should be available to all citizens.
Zoo Labs provides music accelerators offering different types of guidance, audio space, funding, and ownership of their intellectual property.
What is the UBA Economic System?
The UBA Crypto Trader and UBA Influencer 3D Avatar are the manifestations of users' identities in the UBA ecosystem and are now logged into the Binance NFT and OKX NFT markets. enjoy exclusive rights and interests, such as an NFT mining pool, increased mining efficiency, and voting rights for governance.
In the UBA network, SUBA serves as the user's identification proof; this is distinct from UBA NFT. SUBA will be integrated into the entire UBA ecology, will have access to UBA NFT rights and interests, be given preference for taking part in ecological projects, and be eligible for awards in the future.
The project's governance token is the Universal Basic Asset Token (UBA Token). The UBA Token has a maximum circulation of one billion tokens and is intended to promote the growth of the UBA ecosystem.
The Universal Basic Asset Token (UBA Token) serves as the project's governance token. The UBA Token is designed to encourage the expansion of the UBA ecosystem and has a maximum circulation of one billion tokens.
Uses of Universal Basic Asset
In contrast to Universal Basic Income (UBI), UBA enables access to resources that can produce income, such as housing, land, or data, rather than necessarily including direct cash transfers.
Potential UBA applications include:
UBA may provide access to land for housing, agriculture, or recreation, improving food security, reducing homelessness, and fostering environmental stewardship.
UBA could offer a portion of the revenue generated by natural resources such as minerals, water, or energy sources. This strategy promotes sustainable resource management while also providing money.
UBA may provide a percentage of income from patents, copyrights, or trademarks to individuals to encourage innovation and recognize innovators.
UBA may distribute a portion of digital platform income, fostering inclusion in the digital economy and increasing personal data control.
UBA presents an innovative concept that challenges traditional notions of ownership, with the potential to reshape society for greater equity and democracy.
Universal Basic Assets is a very good initiative to reduce poverty and to have a check and balance on natural resources and universal assets.
A community vote will be held by UBA in the second quarter of 2023. It will enable creators to create programs like chat software, forums, social media platforms, and other items of high ecological quality based on the UBA user relationship network. Boost participation and influence while further stabilizing the dynamic inside the group.