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BIG Foundation

Basic Income Guarantee

BIG (Basic Income Guarantee) is a concept of unconditional basic income implemented using blockchain technology. The goal of BIG is to create a system that provides all participants of the system with unconditional basic income and at the same time allows to produce, buy and sell any goods and services within the system.

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Ended
Token
BIG
Type
Price in ICO
3.0414 USD
Country
ICO start
12th Oct 2017
ICO end
1st Nov 2018
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About BIG Foundation

The BIG system is based on the theory of unconditional basic income, according to which every user of the system receives income without any conditions (for free). Since the development of the economy depends entirely on the purchasing power of the population, the introduction of basic income is aimed at increasing consumer demand and stimulating the growth of the economy in general.

The issue of BIG tokens is connected with the number of user's wallets and takes place on a daily basis. That is, every day the system issue 1 token per registered wallet. Each new wallet increases daily emissions by 1 token. The emission is distributed among the participants of the system evenly.

Any user will be able to sell and purchase goods and services using BIG tokens. At the same time, with each transaction, a commission is charged, which helps to maintain the system. Commission from each transaction (10%, so called consumption tax) pays for the work of miners, and is also distributed among all users of the system in equal shares. This distribution reduces the size of daily emissions. If the volume of commissions from transactions reaches the level of emission, then the wallets of users will be topped up exclusively at the expense of these fees. If the amount of commissions starts to exceed daily payments by wallets, then the surplus will also be distributed among all participants of the system and, thereby, increase the unconditional basic income.

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