Proof of Humanity and UBI Explained
The digital world shifts and evolves so rapidly, that we are not able to follow every trend and new term appearing every day. But there are projects worthy of attention. One of them is Proof of Humanity, and I went on with understanding it.
Table of Contents
What is Proof of Humanity
Proof of humanity or PoH is a relatively new project being built on the Ethereum blockchain that allows identifying human activity on a chain and blocking bots. It was launched by Kleros and DEF (Democracy Earth Foundation) and represents a system where people can keep their degrees, skills, experience, citizenship, etc.
What are PoH’s Advantages and Uses?
There is a lot about PoH that needs to be researched and tested. It provides great opportunities and can serve different purposes. Some of them uses are listed below:
Universal Basic Income or UBI
UBI’s are one of the most important components of PoH. When you prove that you are a human, the program will give you 1 UBI per hour. Too good to be true, right? And you will have a lot of doubts and a valid question: where does all the money come from? Why would anyone just reward you with money only for proving that you are a human being?
I’ll try to explain the concept and the purpose in more detail and based on the information that is available right now.
- Each user receives tokens worth around $50-$100 each month.
- According to the founders, it may help to solve poverty and other social issues
- Liquid minting and fundraising are the main sources of money, although the team behind PoH is exploring other options as well
So everything is good so far, but there must be some hidden cons, right?
- The UBI value depends on Ethereum and the general cryptocurrency segment and raises or falls if there is a slight fluctuation in the market
- The transaction expenses are so high, that it doesn’t make any sense to take money out
But let’s wait and see how the whole concept will develop. So, if you have doubts, just remember to frequently check the latest news and changes in the system.
Data Storage
PoH is like your digital ID, meaning that you will be the one storing and managing your personal data. You will be able to upload all the information here, including simple things like passwords and login information, so you will not be forced to fill in your data every time you need to log in or register.
Creating Fair Voting System
According to the founders, the platform can allow the creation of a fair voting system that will make elections more trustworthy and transparent. So, simply put, we all will vote on the blockchain. Of course, these are only speculations, so we need to sit tight and follow how the situation will evolve.
Identifying Bots and Misinformation
All the major social media channels and networks are full of bots and misinformation that create an unhealthy social environment, lead to the spread of hatred and harassment, force business owners to spend money on not relevant bot traffic, etc.
How to Register on PoH?
If I picked your interest, and you want to dive deeper and explore the platform’s opportunities, here is how you can do it:
- Go to the Proof of Humanity homepage and click on the Start button
- Now we are directed to the page full of profiles. Here we can see the number of profiles created and the phase of each profile (vouching, pending approval, pending removal, etc. ). Let’s continue and click on the Connect button:
- Now all we have to do is to connect to our Authereum wallet (give me a couple of minutes to go and register there)
- And finita, it seems the registration of new users was stopped:
- Hold on, it seems there is another way if you click on the logo at the right top of the page:
We have the following options to choose from
- WalletConnect
- Torus
- Coinbase
- Portis
After successfully connecting your wallet, you will be able to submit your profile and pass the required verification levels: video with your speech and an already registered user’s vouching.
Now, after completing the above-mentioned steps, until the registration process comes to its logical end.
Note that you need to reapply a year later or the account will expire, and you will need to go and start over.
Conclusion
So, like with every new project, there are a lot of speculations, predictions and assumptions. I can’t say the idea behind PoH isn’t good or appealing, but how it will develop and what will be its future, no one knows. But it’s a good idea to keep an eye on a project to see where it goes and what opportunities it opens.
