Overview
Companies all around the world are using different tools and system to organize their business, one of the essential part of the daily work is exchanging messages and sharing information through technologies and channels like mail, File Transfer Protocol(FTP) and cloud based. Now, blockchain technology is adding very promising offers to this field like security, reliability, guaranteed execution, conformability, money and assets transfer etc.
Current generation companies are having a strong interest in Blockchain Technology but struggling to use them. The main objective of unbright is to create a blockchain platform for small and medium-sized enterprises with a convenience of automatic smart contract (smart contracts are small computer programs, coded in a blockchain specific high-level programming language) generation. It is trying to simplify the integration of blockchain into existing business.
Why Blockchain?
Blockchain technology encompasses various advantages and promises like:
• Disintermediation: it eliminates the counterparty risk. i.e. Information exchange between two parties without the intermediation through a third party.
• Durability, Reliability, Longevity: they don’t have a central point of failure as it has a decentralized structure.
• Transparency: any changes in the public blockchains are publicly viewable by all other participating nodes.
• Immutability: transaction cannot be altered and deleted.
• Lower transaction costs: By eliminating third party intermediaries and overhead costs for exchanging assets, blockchains have the potential to greatly reduce transaction fees.
Blockchain technology could be used to issue new cryptographically secure “tokens” or “coins” that are easy to transmit peer-to-peer. The coins could be sold to fund open-source software projects and other services that people find useful but are hard to finance with traditional structures. They could even function as shares and thus allow startups to finance themselves far more efficiently, from a broader range of people, and without the intermediaries that take fees and require a drawn-out process. Or the “coins” could represent some unit of utility, such as a gigabyte of storage or access to a network.
Problem
· The concept of blockchain is very modern, and current business are struggling to integrate blockchain with their business.
· The blockchain developers are very expensive and rare.
· The smart contract is not a simple concept and even the bugs are very critical.
· It is difficult to update smart contracts to various blockchains.
Solution (How does it Work?)
Unibright framework: it consists of 4 tools:
Visual Workflow Designer, it allows anyone to craft an advance blockchain based solution, where no coding skills are required and no expensive developers will be required. It will help defining the business integration workflow visually without any coding skills, the users can choose from a set of proven templates and built interfaces for different used cases like supply chain management, Internet of Things (IOT), and many others from locally stored workflow designs code for different blockchain framework.
Contract Lifecycle Management, it automatically generates smart contract for the most appropriate blockchain.
Explorer, it will monitor all the ongoing business process across all smart contracts and related system.
Connector, it integrates existing IT system landscapes into the blockchain world and connects them with smart contract by automatically generated smart adapters.
Used cases:
· Shipping Process Monitoring (Data Collector -Template):
Challenge: In an Internet of Things (IoT) enabled plant, different types of sensors on trucks, machines and containers deliver information on the current state of a shipping process. These pieces of information have to be collected and displayed properly
Unibright solution: The different actors interact with Unibright conformant smart contracts to update the ongoing shipping process and show the respective states of the involved entities.
Envisaged benefits: using the Unibright framework the blockchain acts as an immutable data keeper, secure and reliable. The Unibright Explorer can be used to supervise the ongoing process, improving the
· Invoice release (Multi Party Approval-Template):
Once an Invoice with all its information is entered into the Unibright conformant smart contract, the contract analyses the invoice, decides which approvals are needed and interacts with other smart contracts to request the needed approvals.
· Aircraft Production History (Asset Lifecycle-Template):
The Unibright conformant smart contracts generated for this business case enable the user to keep track of ownership transferals, maintenance and repair history and logs special events like damages or refurbishments in the complex lifecycle of an aircraft production. For all parties getting in touch with the final product (e.g. the airline using the aircraft to offer a specific flight) the safety and reliability of the involved aircraft is traceable in a trustworthy environment.
· …and many more:
Business integration challenges could be met by deriving workflows from a growing number of Unibright templates. Updates will be presented on the Unibright website and the corresponding blog. The shared underlying concept of the Unibright Contract Interface ensures maintainability and connectivity.
· There hard cap is 13 and half million dollars and they are going to have 150 million tokens and 67% of those are to be sold to the crowd sale 6% are going to be given to the team that is very low in number, the maximum pre-sale bonus is about 30% -NO DETAILS OF PRIVATE SALE BONOUS.
· And according to their roadmap the first version of their product offering will be available in Q2 of this year
· And pilot testing is not going to happen till q4 of this year
Verdict:
POSITIVES
· The parent company is SPO consulting GMBH is an existing German company with a customer base and over 20 years’ experience in enterprise resource planning and customer relationship management
· They have got partnerships with Zuhlke Engineering engineering and Cheinium which are two of the very good companies in today’s generation.
· Unibright ico has a non-chain MVP (Minimum Viable Product) with a client base for onboarding their existing smart contract.
NEGATIVES
· The graphical representation of their walkthrough is not clear which can create a negative thought in the mind of developers.
· The prototype will not be available.
· Their non-tokenized competitors IBM, which is actually targeting business application with blockchain integration, it wants to grow in conjunction with new blockchain instead of engaging in direct competition
The overall concept is very logical and innovative. Though the prototype is not available, but the roadmap and walkthrough are very clear and logical. The project will be beneficial for many businesses who are trying to integrate with blockchain.
Team:
• Marten Jung, CEO, Founder, Head of Blockchain Development: Master of Computer Science. 20+ years of experience in business modelling and software engineering. Blockchain enthusiast, coding solidity. Gap bridging middle ware specialist, with expert level know-how on SAP Integration. CEO of a software development company and part of the leader board of an international operating consulting company.
· Daniel Benkenstein (CMO) — Entrepreneur, CEO of neosmart.de, Founder of Herzblut.io, Speaker and Tech-Enthusiast with 14+ years’ experience in Entrepreneurship and Online Marketing. Daniel founded his first company in 2010 and has led over 100 online projects.
· Stefan Schmidt, CTO, Co-Founder, Head of Software Architecture: Worked for IBM & SAP for many years. He has extensive expertise in ERP and Big Data. Very relevant experience to this project.
Token Metrics:
· Symbol: UBT
· Type: ERC20
· Start date of token sale: April 10th 2018 at 1:00 PM UTC (14:00 CET)
· Maximum Supply: 150 Million tokens
· Sold in public token sale: 100.5 Million tokens (unsold tokens will be burned)
· Price: 1 UBT = 0,14 USD
· Minimum Cap (including all pre-sales): 2,200,000 USD
· Maximum Cap (public token sale): 13,542,375 USD
· Accepted Cryptocurrencies: ETH, BTC, others via Shapeshift.io
· Minting/Mining: No
· Jurisdiction: Germany
Token Sale Bonuses
· First quarter of tokens (25,125 Mio UBT): 10% bonus
· Second quarter of tokens (25,125 Mio UBT): 5% bonus
· Remainder of the tokens (50,25 Mio UBT minus bonus tokens): 0% bonus
Token Distribution
· 67% in the public token sale
· 9% sold to early purchasers
· 6% to the team (locked up for 12 months)
· 12% cold storage liquidity reserve
· 6% legal / token sale expenses
