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BioMatrix Launches UBI Token for Financial Inclusion

BioMatrix levarages blockchain and AI for the greater good, promoting a more inclusive digital economy where everyone can generate wealth

May 6, 2024 01:29 PM

Reading time: 1 minute, 49 seconds

TL;DR BioMatrix is set to revolutionize Universal Basic Income through its innovative L1 blockchain platform and PoY token, promoting financial inclusion on a global scale. This initiative marks a significant leap towards leveraging blockchain and AI for societal benefits, with the Beta platform unveiling at Token2049 in Dubai.

A Leap Towards Universal Basic Income with Blockchain

BioMatrix* introduces PoY (Proof of You), a revolutionary token that intertwines users' biological identity with blockchain technology, setting a new benchmark for Universal Basic Income (UBI) and financial inclusion.

With PoY, BioMatrix isn't just launching a token; it's a commitment by BioMatrix to leverage the potential of blockchain and AI technologies for the greater good, promoting a more inclusive digital economy where everyone, anywhere, can partake in secure wealth generation.

The Essence of PoY

At the heart of BioMatrix, PoY stands as a testament to individuality and empowerment. Each PoY token uniquely represents the user and is created from their BioID.

This process champions true decentralization and ensures that UBI's benefits are directly and fairly distributed among users. BioMatrix simplifies the authentication process through the innovative use of AI and ML, enabling users to seamlessly receive PoY tokens and participate in a broader economic ecosystem.

"BioMatrix commits to a 60-year issuance plan for the PoY tokens, fostering long-term engagement and continuous ecosystem growth."

Empowering Users through UBI

This sustainable approach supports users in educational pursuits, entrepreneurial ventures, and community projects, reinforcing the platform's role in enhancing users' lives.

Built on Robust Technology

The PoY Chain, a proprietary Layer 1 blockchain developed by BioMatrix, exemplifies BioMatrix's commitment to delivering high-speed, secure, and cost-effective digital transactions. By integrating advanced cryptography, such as Zero-Knowledge Proofs (ZKP)** for enhanced security, it ensures the privacy of user data without compromising transaction validity.

Revolutionary Consensus Mechanism

BioMatrix sets itself apart through the innovative Delegated Proof of Credit (DPOC) consensus mechanism, rewarding participants in the network for their contributions by assigning a "good credit score." This approach redefines and sets a new standard in the blockchain landscape.

Tokenomics: A Future-Proof Design

With a maximum supply of 21 billion PoY tokens, BioMatrix introduces a tokenomics model designed for sustainability and growth. This supply is strategically allocated, encouraging early adoption and rewarding users progressively.

PoY will be listed on several exchanges in the coming months, leading to the official September listing. This marks a significant step forward in democratizing financial access and embodying BioMatrix's mantra: Build your ID, Invest your future, Own your worth.

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