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When anyone hears of the word Blockchain or decentralization, the first thing that comes to mind is cryptocurrency. The current technology’s prototype was introduced more than two decades back as a form of file system integrity. The real adoption was by the infamous Satoshi Nakamoto in 2008, when he wrote the paper on Blockchain and implemented it in the next year as Bitcoin. The cryptocurrency was born and the immense rise of its value led to other formations of cryptocurrencies that used on or another form of Blockchain technology.
Blockchain As a system, Not Money
Blockchain is more than just about assigning value that can be monetized. As a distributed ledger system, it can carry any information. Be it accounting or the results of the latest fashion trends. In the race to become the next big thing, Blockchain-based firms have conce ntrated on the financial aspect: how to increase monetary value of the digital asset and capitalize on it. This has led to other uses of Blockchain being pushed into the shadows.
Why The Cold Shoulder To Potential Power of Blockchain?
A platform for businesses to utilize Blockchain for their every day operations, UniBright makes it easier for companies shift their ERP systems to decentralization. The UniBright team assessed that apart from Blockchain’s monetary asset systems overshadowing other uses, there were a few fundamental problems that resisted adoption by businesses:
- Lack of Blockchain developers and high demand lead to expensive manpower.
- Complexity in developing smart contracts, a crucial element to Blockchain adoption.
- Difficulty in selecting the right Blockchain technology.
- Lack of knowledge on transferring data from distributed ledgers into a user interface for less computer oriented employees.
- Merging of Blockchain in existing incompatible systems.
Solving The Blockchain Puzzle
UniBright developed four distinct services that allows for easy integration of Blockchain by corporations into their systems:
- Visual Workflow Design: Requiring no coding skills, it is a collection of set of instructions that users can connect together, like building blocks, in a visual manner.
- Contract Lifecycle Management: The workflow design is automatically encoded into a smart contract by a push of a button. The system also selects the Blockchain protocol that is most suitable.
- The Explorer: The Explorer monitors all business practices included in the Lifecycle and presents the information in an easy to understand method when proper inquiry is made.
- The Connector: Integrates different IT systems with smart contracts and different Blockchains so that a company can integrate the new system seamlessly into its existing setup.
By making Blockchain adoption easy, UniBright intends to bring about mass adoption by organizations, small or large, in a variety of sectors, including, but not limited to, insurance, production, finance, medical and much more.
Payment Of Services & Fund Raising
UniBright’s services are paid for through its internal token, the UBT. It is an Ethereum based token and is an industry standard ERC20. Out of the 150,000,000 tokens, 100,500,000 will be available in its token generation event that will start 10th April, 2018, continuing for a month. Unclaimed tokens will be destroyed to avoid inflation. Being sold at 1 UBT = 0.14 USD, the tokens will be available to early backers in exchange for ETH, BTC and on the instant crypto exchange ShapeShift.
More information is available at their website: https://unibright.io/