Polkadot & Kusama ecosystem projects directory
Polkadot & Kusama ecosystem projects directory

Encointer

DAO
Common Good
About

Encointer aims to provide every human with a digital proof of personhood and a basic income in a local cryptocurrency. This means that every participant can maintain exactly one digital identity and that every participant gets a fixed amount of cryptocurrency per month. In contrast to other known cryptocurrencies, encointer issues local currencies, meaning that their issuance is locally bound.

The currency of Benin can have a different exchange rate than that of Norway. Encointer currencies feature nominal demurrage: All balances get devalued over time. 10 units you own today turn into 5 units within one year. Think of this devaluation like a payment to a solidarity fund that pays for the UBI. This way, Encointer can issue monthly UBI and still maintain stable money supply. Demurrage increases money velocity, which in turn fuels the local economy.

Privacy is a major focus of Encointer. The protocol leverages trusted execution environments (TEEs) to enhance the privacy of its users and also increase scalability by delegating transactions off-chain into TEEs. We use SubstraTEE for this, another Polkaproject developed by our team.

Status
Announced
Testing
In Auction On Kusama
Auction
kusama
Kusama
Developer Activity
If you have a connection to this project, kindly Contact Us to keep the details current
News
Nov 15, 2022 at 09:03 UTC
Oct 28, 2022 at 14:10 UTC
Jan 26, 2022 at 15:07 UTC
Oct 19, 2020 at 22:04 UTC
Jul 7, 2020 at 22:05 UTC