- Introduction: More incentives than any other crypto
It will not be atypical for a Bitfari economy participant to open up his/her wallet, perform 15 minutes of work and receive enough compensation to pay for a car. Bitfari is not only intended to be a global cryptocurrency but also the largest game show in the planet.
The spirit of bounties, payments and promos is to actually award network participants, especially as the platform unfolds. In this spirit, our idea is to give everyone the best treatment they have received in their lives as business owners, customers, volunteers or support technicians.
The key to all this is human mining. Instead of distributing block rewards to computers, Bitfari allocates them to a treasury and then distributes them to several network participants at a convenient time. While bitcoin is powered by a network of machines making all the money, Bitfari is powered by a network of humans getting rewards to entice them to respect one another, treat each other better, be more civil and work together towards shared goals.
- Incentives for Network Operators
When a business installs a Bitfari screen they have the potential to increase their revenue in unlimited ways. Showing ads, depending on the location, can probably effortlessly increase revenue with little to no intervention. As network securers and community connectors, they will also receive platform bounties and customer tips.
A store owner might close the store and keep operating his/her screen to save money for a future business. As is stated in Bitfari’s code, businesses will receive:
- 128 faris per-screen installation, upon auditor confirmation. This incentive will half every four years or every 10K screen installs.
Additionally, technicians installing Bitfari screens will receive:
- 64 faris per-screen installation, upon auditor confirmation. This incentive will half every four years for technicians every 10K screen installs.
- Incentives for Auditors
Auditors are normal customers, tasked with the verification of ads, screens, or locations. Pre-auditors check ads from their homes, prior to showing, and auditors check live ads and screens on the wild. Without limitations, auditors are allocated 10% of the total bill for ad campaigns. This will be distributed as follows:
- 5% distributed for pre-auditors. 2.5% for bounty winners plus 2.5% for all the pre-auditors. This incentive will always stay the same.
- 5% distributed for auditors. 2.5% for bounty winners plus 2.5% for all the auditors involved. This incentive will always stay the same.
- Screen auditors will gain 10 faris per screen verification. This incentive will half every four years.
For example, if Coca-Cola places a global ad with a budget of 1M:
- Pre-auditors will be compensated with $50,000. Assuming one thousand pre-auditors are involved in the verification process, then each will get a deposit of $25. However, one of several pre-auditors will additionally win a bounty of $25,000 split evenly across winners.
- Auditors will be compensated with $50,000. Assuming one thousand auditors are involved in the verification process, then each will get a deposit of 25 USD. However, one of several auditors will additionally win a bounty of $25,000 split evenly across winners.
- Incentives for Customers
Installing Bitfari on your phone, Smart TV, or computer will improve your life. Some of the incentives include:
1) 4 Faris halving every 2 years or 50K screens or 50K customers. At less than 1 fari the incentive is removed.
3) Quarterly, monthly and then weekly Bitfari dividend payout coming from the global tax – 1% of ads shown globally. With each halving, dividends payouts get faster.
4) About 2% of all revenue coming from ads placed in the customer’s location will go to a pool of prizes distributed as promos to consume products from local businesses.
5) Customers with as little as 1 fari will be able to participate in the governance app.
6) Customers with as little as 10 faris will get a VIP badge. VIPs will get special prizes from participating businesses. In turn, Bitfari will automatically tip businesses once they provide VIP service.
7) Customers can make extra income by reviewing ads from their homes. They are automatically eligible for bounties.
8) Customers choosing to receive multilingual service can translate menus, city information, and guides simply by choosing the appropriate language from their Bitfari app.
- Some Notes
This should give you a “flavor” of Bitfari’s planned incentives to incite technology adoption and network growth.
Even though some of our users will choose to remain anonymous, incentives are planned to be distributed using traceable cryptocurrencies or stable coins. Making tax evasion impossible.
These incentives might change as part of our community governance process or due to applicable regulations.