Frequently Asked Questions

BioMatrix was founded to tackle pressing issues at the nexus of technology, finance, and social equity, aiming to enhance financial inclusion through the provision of Universal Basic Income (UBI). This initiative seeks to reduce financial inequality and ensure access to essential financial resources for all. With a focus on privacy and security, BioMatrix employs advanced biometric authentication and blockchain technology to provide users with a secure method to establish and use digital identities, addressing growing digital privacy concerns. The platform empowers users to control their personal and biometric data securely, utilizing blockchain and zero-knowledge proofs to protect their information.

Furthermore, BioMatrix integrates digital currency with real-world applications in gaming, dining, rentals, and shopping through PoY tokens, aiming to boost digital currency utility and adoption in daily transactions. It represents a significant innovation in blockchain and cryptocurrency, introducing a Layer 1 blockchain with a unique consensus mechanism and biometrically verified tokens. This is part of a broader strategy to create a sustainable economic model for the platform and its users, ensuring long-term growth and stability.

Designed to be globally accessible to anyone with a smartphone, BioMatrix seeks to create universally accessible financial resources and digital identity verification, promoting worldwide participation. In summary, BioMatrix leverages advanced technology to address key challenges in financial inequality, digital privacy, and blockchain application, creating a more inclusive, secure, and empowered global community.

Sure, the BioMatrix team consist of entrepreneurs, software engineers and industry professionals from Silicon Valley- Apple, Meta, Tencent, AWS, Baidu and more. You can read more about the team at BioMatrix.ai/aboutus.

For further inquiries or support, please reach out to us. Our team is dedicated to assisting you with any questions you may have about BioMatrix and its offerings.

We distinguish ourselves from others in several key ways, reflecting our unique approach to leveraging blockchain technology for social and economic empowerment:

BioMatrix is committed to addressing financial inequality by providing a UBI (Universal Basic Income), funded through the distribution of $PoY (Proof of You) tokens. This initiative is designed to offer equitable financial opportunities to everyone, particularly focusing on those who may be marginalized or excluded from traditional financial systems.

* Advanced Biometric Authentication: Our platform utilizes cutting-edge biometric technology, to create a secure and personalized blockchain experience. This method ensures that users can mint PoY tokens, access their wallets, and conduct transactions with unparalleled security and ease, without storing sensitive biometric data.

* Custom Layer 1 Blockchain with DPoC Consensus: BioMatrix has developed its own Layer 1 blockchain, featuring a lightning-fast and environmentally sustainable Delegated Proof of Contribution (DPoC) consensus mechanism. This innovation allows for scalable, secure, and efficient transactions across the ecosystem.

With a strong emphasis on user privacy, BioMatrix also employs advanced encryption and zero-knowledge proofs (ZKP) to ensure transactions are secure and private. This approach protects users’ identities and financial activities within the ecosystem without compromising on transparency or trust.

* Real-World Application Integration: Unlike platforms focusing solely on digital or financial applications, BioMatrix bridges the gap between digital currency and real-world uses. It aims to facilitate everyday transactions in gaming, dining, rentals, and shopping through PoY tokens, enhancing the utility and adoption of cryptocurrency in practical settings.

* Community and Economic Empowerment: Beyond technology, BioMatrix fosters a community-centric ecosystem aimed at empowering users through education, participation, and economic opportunities. It envisions a shift in wealth generation and equitable distribution, with the benefits of AI and blockchain technology shared by all.

* Innovative Tokenomics and Sustainability: The platform’s tokenomics are designed to support long-term sustainability and growth, with mechanisms in place for token recirculation, staking rewards, and governance. This ensures that the value and utility of PoY tokens are maintained over time, supporting the ecosystem’s objectives and users’ needs.

Intergating these distinctive features, BioMatrix aims to create a more inclusive, secure, and user-friendly blockchain environment that goes beyond traditional applications, making it a unique player in the field of blockchain technology and digital currencies.

The BioMatrix Ecosystem is a comprehensive platform designed to seamlessly integrate blockchain technology with real-world applications, emphasizing social and economic empowerment through its innovative features and services. At the heart of the ecosystem are the PoY (Proof of You) tokens, minted through biometric verification, specifically facial recognition, making them central to the ecosystem’s operations, including transactions, rewards, and the Universal Basic Income (UBI) program. This UBI initiative is a standout feature, aimed at providing financial support to users to foster a more equitable economic landscape.

Security and privacy are paramount within the ecosystem, leveraging cutting-edge biometric technology for secure and unique user identification. The ecosystem operates on its own custom Layer 1 blockchain, featuring a Delegated Proof of Contribution (DPoC) consensus mechanism designed for scalability, speed, and sustainability. A key distinguishing aspect is its integration with real-world applications in sectors like gaming, dining, rentals, and online/offline shopping, aiming to bridge the gap between digital currencies and everyday transactions.

Privacy-preserving technologies such as zero-knowledge proofs (ZKP) and advanced encryption methods are integral to protecting users’ data and transactions, ensuring confidentiality and trust. Community governance allows users to have a say in key decisions, ensuring the platform evolves in alignment with user needs and preferences. Beyond technological innovations, the BioMatrix Ecosystem commits to empowering its users economically and socially through community engagement and economic opportunities.

The ecosystem is enriched by services and partnerships across different sectors, making it a versatile and dynamic platform. Together, these components constitute the BioMatrix Ecosystem, a platform leveraging blockchain for social good, aiming to create a more inclusive, secure, and empowered global community.

Our Layer 1 POY Chain will start off as a private chain, offering a more controlled environment that can be tailored for efficiency and speed.

We might open up the chain for public in the near future, allowing for a wider adoption and participation. Stay informed through official BioMatrix channels.

We do not store our users’ facial recognitions. Upon facial scanning, our system extracts the unique bone/facial structure of the user, encrypt the information into a source code and discards the facial scan.

The PoY (Proof of You) token is a unique cryptocurrency developed by BioMatrix, designed to be minted for free by users through biometric verification, specifically facial scans.

It operates on BioMatrix’s custom Layer 1 blockchain, utilizing a Delegated Proof of Credit consensus for scalability, security, and environmental sustainability.

This innovative approach enables transactions in both virtual and real-world applications, emphasizing user privacy and eliminating transaction fees. The PoY token facilitates a new model of financial inclusion, offering Universal Basic Income to users, thereby aiming to reduce financial inequality globally.

To support 60 years of Universal Basic Income (UBI) distribution for 1 billion users with a limited supply of 21 billion PoY tokens, the following strategies and mechanisms will be employed:

1. Fractional Distribution: The PoY tokens could be divisible into smaller units, e.g. mini $PoY, similar to how Bitcoin is divisible up to 8 decimal places. This will allow for the distribution of small fractions of a PoY token to each user, making it feasible to support a large user base over an extended period.

2. Periodic Distribution Model: Our UBI model is structured to be distributed on a regular, periodic basis (e.g., monthly), with each distribution carefully calculated to ensure sustainability over the next 60 years. This approach involve setting a specific amount of tokens to be distributed in each period, adjusting for factors like new users joining the system.

3. Future Staking and Delegated Rewards: Users will be encouraged to stake their PoY tokens in return for additional tokens as rewards. This will help circulate the tokens within the ecosystem, with staking rewards carefully calibrated to prevent depletion of the token supply.

4. Token Recirculation: The ecosystem will implement mechanisms to encourage or require the recirculation of tokens back into the UBI pool after they are used. For example, transaction fees or a percentage of tokens spent within the ecosystem will be redirected back into the UBI distribution pool.

5. Dynamic UBI Allocation: The amount of UBI distributed to each user will be dynamically adjusted based on the total number of active users and the remaining token supply. This could help manage the token supply more effectively, ensuring longevity.

6. Economic Activities and Token Velocity: By fostering an ecosystem where PoY tokens are used for various transactions and economic activities, the velocity of money within the system could help sustain the UBI distribution. The more actively the tokens are used and exchanged, the greater the potential for sustaining the ecosystem without needing to distribute more tokens than available.

7. Inflation Control and Token Burn Mechanisms: Implementing token burn mechanisms and controlling inflation within the ecosystem will help maintain the value of PoY tokens, making the UBI distribution more sustainable. For example, a certain percentage of transaction fees could be burned to reduce the total token supply gradually.

8. Community Governance and Adjustment Mechanisms: The ecosystem will include governance mechanisms that allow for adjustments to the UBI distribution model based on real-world performance and changing conditions. This could involve community votes on proposals to adjust distribution rates, staking rewards, and other key parameters to ensure the long-term viability of the UBI program.

9. External Funding and Reinvestment: The project could seek external funding or reinvest profits from ecosystem services back into the UBI distribution pool to supplement the PoY tokens allocated for UBI.

BioMatrix Whitepaper: BioMatrix.ai/whitepaper

Our Layer 1 POY Chain will start off as a private chain, offering a more controlled environment that can be tailored for efficiency and speed.

We might open up the chain for public in the near future, allowing for a wider adoption and participation. Stay informed through official BioMatrix channels.

PoY tokens aren’t for sale yet, they can only be earn via our UBI program here: (download link)

Follow our social channels to stay tuned for $PoY ICO.

As an integral component of the expansive BioMatrix ecosystem, the BioMatrix app delivers a comprehensive array of features designed to seamlessly incorporate blockchain technology into daily life, foster financial inclusion, and facilitate the practical application of digital currency across various real-world contexts.

The app empowers users to establish and oversee their digital identities through state-of-the-art biometric authentication, ensuring secure access to the ecosystem’s myriad services and functionalities. Central to its offerings is the ability for users to mint PoY (Proof of You) tokens via a biometric verification process, a cornerstone of the ecosystem’s strategy to distribute a Universal Basic Income (UBI), thereby promoting financial equality and supporting secure transactions.

Eligible participants have the opportunity to claim UBI in the form of PoY tokens, underscoring the platform’s commitment to economic parity and providing a foundational safety net for its user base. Beyond its role in identity verification and UBI distribution, the app serves as a conduit for conducting transactions with PoY tokens. This includes purchasing goods and services, engaging in entertainment and leisure activities such as gaming and dining, and accessing rental services and online/offline shopping, thereby illustrating the tokens’ broad utility and versatility.

Moreover, the app is a pivotal tool in linking digital currency with tangible real-world uses, streamlining transactions across a diverse array of sectors and significantly enhancing the everyday applicability of PoY tokens. With a focus on promoting a secure digital identity, enabling financial empowerment, and bridging the gap between blockchain technology and practical daily use, the BioMatrix app strives to cultivate a more inclusive, equitable, and secure digital economy. Users are encouraged to consult the latest app release or official documentation to explore the full spectrum of features and capabilities available.

The BioMatrix app is available for download on both the Apple Store and Google Play Store. Just search for “BioMatrix” in the search bar, and you will be able to find our app. We will also share a link to the app once it’s LIVE on the stores.

The BIO verification should not take more than 5 seconds. Please be sure to adjust your face, fitting into the scanning frame and be in a well lit area so easy detection.

To receive PoY tokens, the key piece of personal data you’ll need to share is your facial biometric information.

You may review our platform’s privacy policy and terms & condition, for a comprehensive understanding of data usage and protection measures.

We have a dedicated tech support team to assist you. Visit www.BioMatrix.AI and click on the HELP tab at the bottom right of your screen to open a ticket. Alternatively, you can reach out to our admins on Telegram at @BioMatrixAI.

Joining the BioMatrix ecosystem as an early adopter offers several benefits and opportunities:

1. Early Access to Features: Early adopters gain early access to the platform’s features, including biometrically secured digital identity creation, PoY token minting, and the Universal Basic Income (UBI) program. This allows early adopters to familiarize themselves with the ecosystem and leverage its offerings ahead of the wider public.

2. Exclusive Rewards and Incentives: Early adopters will enjoy a higher rate of token distribution for their early participation and support. These rewards can be particularly valuable as the ecosystem grows and the value of its tokens potentially increases. BioMatrix may also offer exclusive rewards, bonuses during this time so be sure to follow us on our social channels.

3. Influence on Development and Feedback: Early adopters will have the opportunity to provide feedback to our team and influence the development, improvement, and future direction of the platform. Let’s shape the BioMatrix Ecosystem together – www.Biomatrix.ai/help

4. Networking Opportunities: Being part of the initial cohort can provide networking opportunities with other early adopters, developers, and possibly the project’s leadership team. 🙂

6. Early Adopter Advantage: By participating in our ecosystem, such as token-based transactions, digital identity verification, and accessing UBI early on, users can enjoy a first mover advantage. This can be beneficial as our ecosystem aims to disrupt traditional practices with blockchain technology.

7. Exclusive Access to Beta Tests: First-stage users will be given exclusive access to beta tests of new features and services. This not only allows you to use these features before the general public but also to contribute to the ecosystem’s robustness by identifying bugs or areas for improvement – and you might be rewarded.

8. Recognition as a Founding Member: Early adopters might receive recognition as founding members of the community, which can come with its own set of perks, acknowledgments, and sometimes even decision-making powers within the ecosystem. We are still working on our affiliate programs, stay tuned!

To maximize these benefits, it’s important for everyone to actively engage with the platform, provide constructive feedback, and participate in community governance when available. Always stay updated with official BioMatrix communications for any announcements related to early user benefits.