BIG Foundation (BIG) ICO

updated 01 January 2018

Basic Income Guarantee

Whitepaper
Token sale info
LVL
Status: ongoing
Start: 12 October 2017
End: 01 November 2018
Cap: No info
Goal: No info
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BIG Foundation

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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