QiCoin Basic Income Cryptocurrency

QiCoin (QIC) will be a basic income cryptocurrency. In order to receive QiCoin, you can mine QiCoins, or else you can be an authenticated user to receive regular hourly distributions of newly created QiCoins. Potentially, a small but significant amount of QiCoins may be created each day and provided to members as an interest reward for holding coins, in addition to the hourly distributions.

In order to create an account on the online wallet site/app and to receive hourly distributions of QiCoin, you must be an authenticated user/member.

In order to create a free verified account on the official QiCoin site/app you must verify a phone number, and also take a picture of yourself and supply a picture of an official legal identification card. The authentication process would be quite similar to the methods that AirBnB users. Employees could be hired in United States, or the work could be sourced to a reputable and secure company in United States or India potentially.

QiCoin may be based on CryptoNote technology. It should be possible to min QiCoin in an Internet browser. On the official/site app users will be able to send QiCoins to a cryptocurrency exchange or other QiCoin wallets and so forth.

The cryptoeconomics of a basic income cryptocurrency may require significant consideration. In order for a basic income cryptocurrency to be valuable, it must be able to be exchanged for products, services, other cryptocurrencies, and probably even national fiat currencies.

There may be no cap on the amount of QiCoins that can be created. The rate of creation should probably be rather slow to start. If the popularity of the official QiCoin site/app grows exponentially, then this may affect the rate at which new QiCoins are created and distributed.

Hopefully the initial value of one QiCoin to be the equivalent of 1 US Dollars. The price of QiCoins may increase or decrease over time. To start, individuals will be given 0.0416666 each hour. Miners will be provided additional QiCoin in addition to normal hourly distributions. Daily distributions will be increased over time as much and as fast as cryptoeconomics will allow. More details about QiCoin will be elaborated on soon.