Essentially the way that it works is that anyone who signs up will receive 100 coins each day and they may be freely traded among users. Ideally over time people will start assigning real world value to the coins and then the daily income you receive from Swift Demand will function exactly how Basic Income is supposed to work. If anyone has any questions or suggestions relating to the service I would love to discuss them.
Ensuring a single person has a single account would be a sort of holy grail here for many things. I'd love to hear ideas of a way to make it possible without sharing private information.
My first attempt would probably be a 600 DPI flatbed scan of both hands, palms down, with a nonce written on them with a marker. But since I am a stinker, the nonce would be a procedurally generated phrase similar to "22Feb2017 @randomhandle 03D6A9C1 #RateMyHands", and my trust would wither in the ensuing user data privacy scandal.
I'm sure someone more mature and responsible than I am could do better with that idea.
If you can determine that a new account has the same hands as an existing account, you can stop depositing into the old one, and continue with the new one. You can start with human eyeball inspection, and work your way up to automated hashes of extracted features.
I've just given you 5000 morgante points for your comment. I'll give you 5 more tomorrow! Nobody accepts morgante points for anything so it's inherently meaningless.
A basic income program is only interesting if it's actually giving out something of value. Your first step should be to assign value to a new currency, not to start handing it out.
I don't see a plausible path to value for your currency. Fiat currencies derive their value from government. Cryptocurrencies derive it from math. Yours is derived from your "word" that you won't just give yourself half the currency if you feel like it.
Not to mention that you don't seem to have any mechanism in place to ensure 1 person:1 account.
It is meanigless but it wouldnt be hard to add some value to these "coins". For example, I can offer that one hour of my time as automation consultant is from today worth 100swifts. All you need is enough people to trust the system and it becomes real currency. after all money is just a way to allow people to trade their time or products without having to barter.
If I can buy an hour of your time for this, awesome. Make that offer. I'll take you up on it. Prepare to give me all your working time.
Since I have 800 coins now, where should I contact you to cash on on my day of free consulting? I've got some fun projects for you to work on.
> It does not mean that the price wont change soon;).
That's the problem though (that I'm trying to illustrate). All I'm doing is trusting that you'll want to continue to offer this trade, there's no guarantee of that. As it is, I wouldn't even pay $1 for 100 coins, even though your time is almost certainly worth more than that.
I just had the thought that what if there was a currency that flipped it around. Doing good things for others is the only way to earn the currency. It obviously requires controls but then you could exchange it for food at a restaurant that accepts "good". I'm still thinking through a lot of implementation details but it feels like there is something here.
This could actually be quite dangerous for you if your project gains any sort of traction. Some unsavory individuals might be quite tempted to harm you to gain access to your digital "mint". If you made any unpopular decisions regarding the rate of inflation, market access, experienced a security issue, etc. you would also be subject to a lot of vitriol and potential violence. Not to mention that the government of any country where this is introduced would probably be itching to shut you down (whether they could would be an entirely different story).
Personally I think the answer to inequality, which is the main issue that BI attempts to solve, lies in tax reform. Especially on the rate at which we tax capital, and the loopholes that allow corporations and wealthy individuals to harbor capital in some low-tax jurisdiction; capital that they could not have earned and accumulated without access to the infrastructure and public services in the nation where they live and conduct business.
I'm glad BI is raising awareness of the problem of inequality, but I think it focuses too much on the wrong side - the distribution of benefits, rather than the taxation of profits. Piketty studied wealth/capital for the better part of 20 years and came to the conclusion that we need a global income tax .
For further inspiration on your project RE: fake identities, check out how Auroracoin was "airdropped" to Icelandic citizens, who had to verify their identity with a government-issued ID number to be eligible to collect their coins.
How is this going to happen?
From the rest of your comments, I'm curious how much research you've actually done into economics and currency. A currency which is being constantly and unpredictably printed is the opposite of stable.
Bitcoins value fluctuates so fast that no one really knows how much something real costs in bitcoin on any given day.
As a result, even though Bitcoins are surprisingly valuable, as a currency it has very low velocity. Bitcoin is closer to gold, real estate or shares than it is to dollars. It makes an ok place to park your value in the hopes that it'll beat inflation, but much like gold and houses it's extremely difficult to directly buy something with it.
You need to find a way to make your project a high velocity currency. I don't know how to do that though. Good luck :)
 Your mileage may vary. I personally wouldn't invest in bitcoin because it's too volatile for me to be bothered tracking it, but some have done so with success.
> ...even though Bitcoins are surprisingly valuable, as a currency it has very low velocity.
Is this part really true any more? Trades of something other than Bitcoin aren't denominated in Bitcoin. But the exchange rate, though variable, is available in realtime and companies like Coinbase take the short term fluctuation risk for traders. It's easy enough now for a seller to say "I will accept $X worth of Bitcoin" and a buyer to say "Sure, here's $X worth of Bitcoin" and for both sides to be happy. Bitcoin clients have UIs that work this way now too.
That's not guaranteed. If I can't spend it on anything, it's monopoly money: regularly printed, but not actually currency.
Monopoly money is a stable state item, too. We've no reason, barring outside influence, to believe that anyone will ever start accepting monopoly money as a currency. The first person that did would be taking tremendous risk; there's an awful lot of monopoly money sitting in peoples cupboards. If they break ranks and no one follows, they'll be left with piles of worthless paper.
If too many of your coins enter circulation before someone starts accepting them as a currency, you could be left in the awkward situation where in order for a merchant to mitigate the risk of accepting your coins, they have to set the price of a loaf of bread so high that no single user of your service actually has enough coins to purchase a loaf.
An exchange to allow people to trade their coins for normal currency
An API to allow businesses to easily hook Swift Demand into their platform
Added verification requirements (This one depends on the rate of growth)
I actually only released the website less than a week ago so it's still incredibly new, but people have already done some cool stuff with it. This guy set up a website to write haikus in exchange for coins http://swiftpoetry.club/
I'm planning on setting up a service to allow people to more easily exchange coins into their local countries currency and develop an API so websites can more easily accept Swift Demand as a payment option, but these things are still in the pipeline.