A Viable Alternative to

Universal Basic Income

VI

Table of Contents

1. The Problem and UBI ............................................................................. 1

2. VI - Value income ................................................................................... 1

3. How does it work? ................................................................................. 2

3.5. Vid ................................................................................................. 7

4. Roadmap ................................................................................................ 7

5. Closing statement .................................................................................. 8

1.The problem and UBI

A problem that we as a society had time to solve, is suddenly an immediate issue that needs a solution.

Loss of jobs and income. Technological advancement, AI and automation will cause record rates of unemployment. The coronavirus outbreak has simply highlighted and accelerated a problem that we have to fix. People need an additional source of income.

The general consensus is that UBI - universal basic income is the most viable solution. UBI is an amount of money that every citizen receives regardless of other income. All citizens receive the same amount and there are no specific requirements to receive it.

Many governments have considered and are trialling forms of UBI. Thus far no one has presented a long term viable solution. This is due in part to the fact that the money that is to be distributed either would be sourced by increasing taxes or increasing national debt.

2. VI - Value Income

We believe VI - Value Income is a viable alternative to UBI.

VI is the value created by users, redistributed to users as an additional form of income. The value is generated by a user’s usage of a business.

Users create enormous value in user centric or C2C businesses, but none of this returns to them. Every time a user opens Facebook, searches with Google or watches a video on Youtube they create value for that platform. Other than free access to the service what does this user receive for the value they have created? Nothing. These companies have a combined value of trillions of dollars, but they have zero value without their users.

The power and value is with the users. With the Value Income Model, users have the power to earn income based on the value they created with their usage.

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3. How Does it Work?

The value is distributed using a digital currency enabled by blockchain technology.

Each day users prove they have been part of the network that day by pressing a button, they receive an amount of VI an ERC20 token :

Technical detailsContract address: 0x8b6c3b7C01D9dB4393f9aa734750F36df1543E9ATotal supply: 888,888,888 Initial supply circulating: 23,511,045 (Deflationary see https://vid.camera/vi for current)Universal VI: 865,377,843 (Released daily, in equal injections over 312 years) Token release schedule : 7000 per day for 111111 days (312 years + return)Token usage: Reward users for the value they create in the economyMethod of value transfer: Returning of tokens to source contract address by companies that wish to give back to their users.

Initially 865,377,843 VI tokens at a rate of 7000 VI per day are to be distributed by smart contract address:

0xBA12f8af0d6BF755a504ac22e57df992F3d903ab

In addition to the initial 865,377,843 VI, tokens will continually be sent back to the source address, extending the length of the daily release.

Of the 7000 VI tokens that are injected per day 99% is distributed to users as Value Income. 1% is distributed to the Vid foundation.

Users that are active on the Vid app on any given day receive:

(i) Universal VI (ii) Impact Bonus

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Universal VI

Universal VI is paid to all active users. How much each user receives, is dependent on 2 factors:

1. How many users were active on the platform on a given day. Activity is proven by opening the app or using the service.

2. Which country the user lives in. The amount received is proportional to the basic living wage in the user's country.

- Since minimum living wages differ from country to country, we apply a country-specific multiplier for each user that is being computed. - Country specific data can be found at vid.camera/universalVI - These figures will be assessed at the beginning of each calendar year.

Impact bonus

The amount of additional VI each user receives daily is dependent on their impact bonus score, this metric reflects their impact on the growth of the VI ecosystem.

The impact bonus score is comprised of 2 parts: - Activity score (personal contribution PC) - Invite score (Network contribution NC)

Activity score initially is comprised of 5 behaviours

1) Reach

2) Engagement3) Viewing4) Creating 5) Consistency

- UV: total number of unique views for all of the user's videos- FO: number of user's followers- EN: the user's engagement, which is UV divided by FO- OV: total number of videos viewed by the user (other than their own)- PV: total number of public videos created by the user- CA: the number of consecutive days the user has been active

Scores that are displayed to end users are normalized and calculated in the following manner:

- Get the lowest value (MIN) - Get the highest value (MAX) - Compute the range (MAX-MIN) - Subtract MIN from each individual value and divide by RANGE - Values are computed per user; all users, including inactive users, are taken into account

The impact score displayed to the end user is the average of the activity score and invite score.

NUV: normalized UVNEN: normalized ENNOV: normalized OVNPV: normalized PVNCA: normalized CA

* PC: the user's personal contribution, which is NUV * 1/3 + NEN + NOV * 1/3 + NPV + NCA * 2/3

NPC: normalized PC

Invite Score

Invite score is a percentage of the activity score of someone you invited to the network

NL1: the user's first level network contribution, which is the sum of 10% the NPC from each referral

NL2: the user's second level network contribution, which is the sum of 1% the NPC from each referral's referral

NC: the user's network contribution (NL1 + NL2)

NNC: normalized NC

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Daily Distribution:

Daily distributions work as follows:

- Payouts are distributed among all active (active on the valuation day) users - The daily token pool contains 6,930 tokens - 20% of the token pool are used for Universal VI (VI) payouts, that's 1,386 tokens - 80% of the token pool are used to pay users based on their impact, that's 5,544 tokens

IS: the user’s impact score is the sum of their normalized personal contribution and their normalized network contribution (NPC + NNC)NIS: normalized ISCR: the user's country-specific payout rateTCR: the sum of all users' CRTIS: the sum of all users' NISUVI_M: the UVI multiplier, which is the number of UVI tokens (1,386) divided by TCRIMP_M: the impact multiplier, which is the number of impact tokens (5.544) divided by TIS

Finally, each user's payout is calculated as follows:

* Universal VI payout: CR * UVI_M

* Impact payout: CR * IMP_M * NIS

The factors that contribute to the impact score may alter during the initial growth phase of the VI platform. After which any changes will be voted on by token holders.

THIS ALGORITHM IS SUBJECT TO CHANGE AT ANY TIME.

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Return to source mechanism

Value is transferred from the company that is using the Value Income model to the users receiving VI daily through a deflationary VI return to source mechanism.

The company that wishes to give some of its value back to users, such as Vid, can purchase VI, then send the amount purchased to the VI return address. Thereby removing VI tokens from circulation at the exact value purchased.

The return address is the source address, (i.e. the contract that releases the Universal VI every day) This enables the value to transfer to recipients of universal VI daily injections. A simple yet effective transfer of value.

The VI tokens sent back to the return address will continue to be released at a rate of 7000 per day. Therefore tokens sent back in 2020 will be released in year 2332 after the initial 865,377,843 have been released.

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VI Currently Circulating

VI business

Return to source mechanism diagram

User

Buys VI and returns it to source

Spends money on VI business and % of money spent is returned to source.

Recievers of Universal VI7,000 VI / day

Source Contract

3.5 Vid - Value IDentity

Vid is a video social platform that verifies the identity of users that wish to receive VI. Vid is the first company to use the value income business model.

VI (Value income) is designed to allow users to reclaim some of the value they create in the economy. By category, users spend the most time on social media and chat apps on any given day, making it naturally the best starting point for this social economic experiment.

4. Roadmap

Phase 1 - Up to 1 Million Users

- Parity between iOS and Android - Marketplace to buy and sell - content, physical goods and services using VI

Phase 2 - Post 1 Million Users

- Build native blockchain to improve scalability and solve gas fee issues - Further decentralization, all impact score values and daily distributions to all users to be stored on chain for transparency - Changes to impact score and impact bonus algorithm will be voted on by token holders from phase 2 onwards

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5. Closing Statement

The severity of the world’s current macroeconomic conditions requires innovation for people to meet their basic needs . Automation and AI were projected to lead to the rates of unemployment we are seeing now. Covid-19 has simply accelerated this shift. Either we find a solution to these unprecedented numbers of unemployment or we suffer the consequences of a world in unrest.

Technology, the internet, social media, the sharing economy and other novel business models that connect users have created enormous value. VI, by utilizing blockchain technology, enables users to get back some of the value they provide.

We believe Vid’s value sharing economy will benefit users and companies alike. Value income can reduce some of the burden that such high rates of unemployment is placing on governments around the world.

VI is hope, VI is progress.

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