The First 5 FAQs About B-Umbrella

The preparatory phase of the B-Umbrella project is coming to its end and our website will appear shortly. Since we are receiving many questions about both the functionality and the policy of the service, we represent 5 FAQs hereby. Everyone can check this presentation (https://drive.google.com/file/d/0B3G6GO7V7fnkS052d0lET0JQWWM/view) to get the general overview of B-Umbrella. We are glad to get the interested audience’s feedback, comments, remarks, advice, propositions, and critics making our project clearer and more attractive for future users. New questions are always welcome.

1. How can B-Umbrella protect the users’ personal data?

Since B-Umbrella is aimed at making people feel secure whatever events happen in their lives, the blockchain technology offers a great chance to protect them against threats for their private relations. Eliminating any intermediary from the interactions between customers of the service and the executors, B-Umbrella allows keeping deals and agreements secure and private. Any third party would not be able to intrude into the peer-to-peer flows empowered by smart contracts on the B-Umbrella platform. And this is not because of B-Umbrella’s admins reject some national legislation or deny cooperation with federal agents, for example. The mere technological stack based on the blockchain technology and cryptography excludes any personal data leakage whatever hacking efforts could be attempted.

1. What is the innovative business model of B-Umbrella?

Having no intention to reinvent the wheel, B-Umbrella offers the effective and popular Uber-like sharing business model. The innovative aspect refers to the mere security market rather than to the business model: contracting security safeguards via DApp on a smartphone is the innovative approach we offer. Besides, B-Umbrella expands the range of the safeguards inviting everybody capable of delivering any kind of security services. Everyone will get an opportunity to promote oneself as an executor offering some demanded and valuable skills to those who seek protection and security.

1. What advantages over conventional security vendors does B-Umbrella have?

The first and the most significant advantage is the anonymity of both clients and executors. Nobody will need to publicly disclose one’s private data using B-Umbrella service. All the transactions related to the security agreements signed via B-Umbrella platform will be executed automatically by means of the blockchain-based smart contracts. Thus, the pure peer-to-peer workflow is provided. Besides, B-Umbrella’s cross-platform application will be invulnerable to any kind of shutdowns and interruptions thanks to the server-less architecture grounded in the blockchain technology.

Another advantage relates to the areas and activities where our clients will be able to find the appropriate executors. In addition to the conventional security segments such as bodyguard services, armored cars, corporate safeguarding etc., the non-traditional and even exotic specialties will be engaged. For example, it will be possible to order and hire the white-hat hackers who are able to provide various cyber-security services on a freelance basis. Besides, along with the officially registered and licensed security vendors, any private person who promotes oneself as a security specialist will be available for hiring since no any mandatory licensing is required to become a B-Umbrella’s executor. The choice and selection of the executors will depend on both the clients’ expectations and the executors’ reputation approved by the feedback of users.

1. How can B-Umbrella prove the executors’ reputation?A special section of the B-Umbrella platform will be dedicated to the opinions of both clients and executors. Every user of our service will be able to match each executor with rating stars. Besides, all users will be able to leave a positive or negative feedback regarding any other service users expressing the satisfaction or dissatisfaction with regard to the executed deals. Thus, B-Umbrella imposes the responsibility for gaining the reputational ratings on the service users. Under no circumstances the B-Umbrella admins will interfere the users’ interactions to lose the neutrality. We propagate and appreciate the self-governance principles inherent in the crypto anarchy.

Besides, any significant action performed on the B-Umbrella platform will require a definite amount of tokens to spend (similarly to the “gas” for Ethereum). Even if such expenditures are calculated in micro amounts, the very fact of spending of tokens will most likely deter unfounded allegations and biased opinions. In addition, expressing a negative opinion will cost significantly more tokens than praising, that therefore will make users think twice before leaving any negative feedback.

1. Why should investors be interested in B-Umbrella’s tokens?

Users will need tokens to be able to use the entire functionality of B-Umbrella. Tokens will be issued during the token sale period (November 15 — December 15) in the amount equal to $3M. However, that initial token offer will not be the last chance to buy BUNT (B-Umbrella native tokens) once a special purchase/exchange token section of the platform will be put into operation after the main version of the B-Umbrella service platform is launched. The period between the initial token sale and the launch of the main version of the platform (approximately 12–14 months) can alter the cost of tokens significantly.

Since B-Umbrella offers both a new technology and a socially valuable project, the value of BUNT will be growing in the market most likely. At the same time, the cost of B-Umbrella services will be fixed in tokens without reference to the market price of BUNT. For example, leaving a negative feedback about some executor will cost users 500 BUNT that is equal to $5 according to the initial offer value of BUNT. In the meantime, the price can grow up to $25 while BUNT value is increased five times in the market.

Thus, the interest of the early adopters and investors comes to offering BUNT to the new users of B-Umbrella at a little bit lower price than the average one can be found on the market (the purchase/exchange section of B-Umbrella will be correlated to the current average market price) but higher than the initial token sale price. However, the main advantage of purchasing BUNT during the token sale belongs to those people who are planning to become the B-Umbrella users. Their expenditure for the B-Umbrella services can finally be many times lower than the one of those who join the platform after its launch.