Unibright (UBT) is an open-source token based on Ethereum protocol. Unibright platform creates enterprise blockchain solutions, develops integration platforms and provides a whole ecosystem around tokenized assets.
The company behind the project was founded in Germany in 2017. Its mission is to help the companies integrate blockchain technologies into their businesses. Its dedicated consulting branch Unibright Solutions started its activity in 2018. The company works to support blockchain use in business processes. There are also such branches as Unibright Freequity offering tokenization services, Unibright Ventures, which is an investment firm, and Unibright Thinktank that turns ideas into business.
Unibright offers a unified framework that includes templates and integration tools. The coding skills are not necessary for using a framework and deployment of a smart contract or for the extraction of information from the blockchain.
Unibright delivers a complex solution for the integration of blockchain into existing businesses that is accessible for all, even not technically-savvy users. Blockchain-based business processes are necessary for some industries, for instance, the aerospace industry where construction of aircraft requires million diverse operations performed by different companies scattered throughout the world. It’s incredibly hard to monitor all processes, and keep records of full history on huge enterprises, while blockchain can significantly simplify the process.
Blockchain improves supply chain traceability reducing costs and increasing the efficacy of production. Therefore, numerous companies explore the possibility of blockchain integration into their systems. Unibright offers a unified framework that includes templates and integration tools to make the process effortless and easy. Employees of companies that use Unibright solutions don’t need any professional skills to use the framework. There is no need to code to deploy a smart contract based on the Unibright framework.
Unibright platform and technology
Unibright ecosystem operates in two levels of modeling to attain blockchain integration: a software architectural level and an end user-driven application level. The ecosystem includes 4 components with specific purposes each.
For instance, UB Workflow Designer includes the templates that can be selected in accordance with your needs. Even an inexperienced person can design the workflow with the help of this tool. UB Contract Lifecycle Manager helps users to deploy smart contracts, to pause them, terminate or update when needed. With the help of UB explorer, users can see all necessary data and statuses of smart contracts.
The automatic generation of Smart Queries Sets depends upon the selected template type. Using the UB Connector connection of current off-chain systems becomes possible. This component of the ecosystem also enables cross-blockchain interactions, for instance, when deployment of a smart contract on more than one blockchain is needed to fulfill a task.
Unibright is developing the Baseline Protocol which is needed to connect traditional systems with each other via Ethereum Mainnet. Using this protocol, enterprises will be able to collaborate effectively without leaving sensitive data on-chain. A zero-knowledge proof service is used for the generation of proofs of private logic execution and consistency. The work is conducted to make the Unibright Framework fully Baseline compliant. The protocol is a missing link necessary to implement works according to the concept of scaled blockchain networks.
UBT is a utility token that is needed to pay for the deployment of smart contracts and for a smart contract connection when the Unibright Connector is used. The participants of the community need to pay tokens for services and components provided by Freequity, which is a tokenization solution of the platform. It’s also worth saying that the platform offers workshops that help to develop effective blockchain use cases. Users can spend their UBT there, too.
UBT is paired with ETH and BTC on such exchanges as Hotbit, IDEX, Bilaxy, HitBTC, COSS and Kyber Network. The most secure way to store this cryptocurrency is to use hardware wallets such as Ledger Nano S and Trezor. Also, Trust Wallet supported by Binance is a great way to store UBT with Android and iOS support. Atomic Wallet can also be helpful. There is a desktop version along with iOS, and Android-based versions of this multi-platform wallet supporting over 300 cryptocurrencies. Those who need a web-based solution can use MyEtherWallet.
The token sale took place in April 2018, during which the startup has managed to reach its hard cap of 13,540,000 USD. Out of 150 million tokens, 67% went to the public sale, 9% was set aside for early purchasers, 12% was given to the cold storage liquidity reserve, 6% was provided for the team but was locked for gradual release within a year, and 6% was allocated for legal and token sale expenses.
As for the token sale proceeds distribution, 50% of income was spent on the development of the platform, 20% on template generation, 15% on PR and marketing goals and 15% on partnerships and customers’ incentives.
Unibright team and partnerships
The company is a spinoff of SPO Consulting GmbH that specializes in business integration and ERP-System consultancy (ERP stands for ‘enterprise resource planning’). The members of the Unibright team call themselves business integration experts. The company has many famous corporate customers in its portfolio. The list includes, for instance, such clients as Samsung, Shell, Lufthansa, ABB, and many others.
The teams of members and advisors listed on the project’s website include 7 persons each. All of them have solid experience of business integration into blockchain platforms. The founder of the company Marten Jung, CEO, has 20+ years of expertise in the area of business modeling. His colleague and co-founder Stefan Schmidt, CTO, was the Executive Partner of a certified Microsoft Partner software development company and worked in the sphere of business modeling and software architecture.
Unibright cooperated with SAP and Microsoft, which support the efforts of the company in the implementation of a business process in SAP Hana and cloud-based hosting and integration on Azure.