We hack the global financial system with ~100 loc.

Team's submissions

ZkUbiToken Social Tech Social Impact

The problem ZkUbiToken solves

Life Demo: https://zk-ubi.vercel.app/

We propose a new crypto currency narrative that could work as a future global financial system. ZkUBI addresses wealth inequality by redistributing a universal basic income (UBI) to ensure fair wealth distribution, leveraging zero-knowledge proofs for sybil-resistant identity verification without the need for a trust network. The UBI is paid for by taxing wealth from every account. The UBI is distributed to sentiment users, so the max supply is fixed. Users will be able to login with zkPassport, but for this demo we use Zupass.

Key Features

  • Sybil-Resistant Identity Verification: We use zupass for anonymous identity verification to ensure sybil resistance. In the future, we plan to integrate zkpassport for enhanced security.
  • Simplified Calculations: Unlike other UBI systems, such as Circles UBI, zkUBI simplifies the redistribution process.
  • No Trust Network Needed: By leveraging zero-knowledge proofs for identity verification, we eliminate the need for a complex trust network.
  • Read time calculations: Unlike other UBI systems, which require claiming the the basic income periodically, users can watch their balance grow automatically
  • Robinhood Tokenomics: The rich lose hoarded money in real time while the poor get richer. This encourages the rich to spend and bolster the economy while protecting the poor from poverty

Challenges you ran into

  • The initial math we attempted was too complicated and had problems being implemented in solidity.
  • Zupass was complex to integrate
  • A sybil resistant identity solution does not yet exists at scale
  • The token we launch does not yet have a value. It rather serves as a narrative we want to create.

Technology used

  • ZkPass
  • Foundry
  • ScaffoldEth / ZkPass repo / wagmi, viem