On Mon, Feb 26, 2018 at 4:49 PM, Ubicorn via cryptography <cryptography@metzdowd.com> wrote:

Hello, we have released a cryptocurrency called UBIC that distributes a universal basic income to it's users. We solved the sibyl attack by requiring users to scan the NFC chip of their E-Passport. The process works this way: - The user reads out the PKCS7 file contained on the E-Passport. - A non-transerable proof of signature knowledge is created on one of his UBIC addresses using the document signing certificate contained in the PKCS7 file. - This proof is broadcasted and included in the blockchain

The source code of the project can be found here: https://github.com/UBIC-repo/core The non-transferable proof of signature knowledge for ECDSA signatures is generated here: https://github.com/UBIC-repo/core/blob/master/NtpEsk/NtpEsk.cpp and for RSA signatures here: https://github.com/UBIC-repo/core/blob/master/NtpRsk/NtpRsk.cpp

We are a little bit unsure if our non-transferable proof of signature knowledge for RSA is completely secure because we had to hack it a little bit. It is based on on the Guillou-Quisquater protocol where the challenge has to be smaller than the RSA exponent. However because the document signing certificate exponents are almost every time 65537 we generate 5 proofs of 16 bit entropy each.

What are your opinions on this?

It will fail since its "UBI" distribution must end as long term the cryptocurrency reaches forex equilibrium and thus fails to deliver "ROI", unlike businesses that can. Those without passports won't "invest" aka buy it, nor benefit from it, thus it'll remain massively underexposed to free markets. The leading open cryptos will provide much more "return" to more people before equilibrium. So UBIC coins, be they pure and simple cryptocurrencies, are moot. Nor does the UBIC above have any whitepaper or roadmap in the repo saying anything about what its prospectus is. Though as with any other coin, its tech might be useful to integrate somewhere else. Such as potential form of wallet 2FA, identity assertion into blockchain, etc.