LeoGlossary: Hive Staked Basic Income (HSBI)
Hive Staked Basic Income (HBSI) is a project that is resident on the Hive blockchain. It is a social experiment to see if it can crowdfund a basic income to as many people as possible.
The project utilizes the reward pool located on Hive. It is tied to the voting mechanism.
Basically, a user "sponsors" in another. This is done by sending 1 $HIVE (or multiples thereof) the wallet for the project account. The one sending the coin along with another individual who gets named will both become part of the project. Each coin sent gets both individuals a unit in the program.
The essence is that upvotes are giving on content created by the token holders. Obviously, the more one has, the greater the vote value will be.
Since there are $HIVE used to purchase the tokens along with Hive Power delegation, the project account gains the ability to influence the reward pool. As the HP grows, so does the impact of the upvotes.
This is just one of the innovative ways people are starting to experiment with cryptocurrency.
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