The IT sector is slowly being revolutionized by blockchain technology and the extra features it provides. However, the influence of the blockchain is being stalled by how difficult it is to understand and adopt. Blockchain developers are rare and quite pricey, and smart contracts are too complex — a minor bug in the code could be critical. Furthermore, companies struggle to find the right blockchain solution for their businesses and most of them do not know how to translate blockchain data into something applicable to their customers and their employees. In addition to the complex nature of the blockchain, as of now, the technology cannot be readily combined with existing IT infrastructures. What this means is: companies that want to integrate the blockchain into their existing platforms have to start from the ground up.
Unibright wants to provide these companies with a framework and the tools to make it easier for them to adopt blockchain technology. Among the products they plan to unveil is a Visual Workflow Designer which should give anyone the ability to create blockchain-based solutions without requiring coding skills or the services of a blockchain developer. Another is the Unibright Contract Lifecycle Manager: the project claims that this will transform the visually designed workflows mentioned above into smart contracts. Then there is the Unibright Explorer which is expected to monitor the business processes in progress across smart contracts and existing IT infrastructures. It will allegedly display on- and off-chain data on a dashboard according to use case related smart queries. Finally, the Unibright Connector — this will reportedly facilitate the connection of existing IT infrastructures with various blockchains and smart contracts using automatically generated smart adapters.
Unibright’s token, UBT, is ERC20-compliant and it will serve as the governing currency on the platform. Clients have to purchase UBT tokens every month for integration actions; if the clients need more actions, they can either buy more tokens or subscribe to a faster roundtrip for a higher price. All client related agreements (price, validity period, roundtrip options) are controlled and automated by smart contracts.
There are no working products or prototypes available to the public yet.
Team claims to have the system up and running connecting SAP Systems and generating Ethereum SmartContracts. More details can be found in the technical paper and screens are included in the walkthrough video.
Hard Cap and Valuation
There will be a total of 150 million UBT tokens and the project aims to raise $13.5 million for 67% of the token total (they have already reached their soft cap — $2.2 million). The remaining 33% will be shared thus: 12% is to be kept in cold storage — it is likely that this is being reserved for a private sale, 9% goes to seed investors, 6% is shared among team members, and the final 6% is earmarked for legal & token sale expenses.
Team tokens are to be vested for 12 months while private sale and seed investor tokens have no lockup periods. According to the project, the seed investors are planned to be the first customers and they will need need the utility token to use the platform.
Price Per Token
1 UBT = $0.14. (ETH price is pegged at $450 for UBT valuation).
A maximum 20% bonus was available during presale, and minimum contribution was pegged at 100 UBT.
UBT presale was closed some time ago, and the token’s crowdsale is scheduled to commence by 16:00 CET on the 20th of April 2018.
Q2 2018 First version of tools.
Q3 2018 More templates, more blockchains.
Q4 2018 Pilot customers.
2019 Product readiness.
As of the time this post was published, Unibright had over 8,000 followers on Telegram, 2,600+ followers on Facebook, over 3,300 followers on Twitter, 270+ followers on Medium, over 115 Reddit readers, and over 32 pages on Bitcointalk.
- CEO of Iconiq Lab Accelerator.
- Venture capitalist with 8 years of experience.
- PwC auditor.
Team Members’ Areas of Expertise
Marten Jung, CEO.
- CEO at SPO Consulting GmbH for 2 years (ongoing).
- Senior Software Engineer/Consultant at Jung&Schmidt Informatiker for 14 years (ongoing).
- Software Developer at SPO Consulting GmbH for over 3 years.
Stefan Schmidt, CTO.
- Executive Partner at SPO Consulting GmbH for 2 years (ongoing).
- Executive Partner at Jung&Schmidt Informatiker for 14 years (ongoing).
- Developer / Consultant at SPO Consulting GmbH for 4 years.
- Web developer at wordwide GmbH for 3 years.
Target market experts
No team member with target market expertise.
Daniel Benkenstein, CMO.
- Entrepreneur, and Founder of Herzblut.io (10 months old).
- CEO at neosmart GmbH for 8 years (ongoing).
No team member with legal expertise.
Software engineering experts
Ingo Sterzinger, Lead Engineer Frontend.
- Web Developer at Sterzinger Web Solutions since January 2015.
- Web Developer at campoint AG for almost 10 years.
- Web Designer at Jacoby & Partner for almost 4 years.
- Web Designer at wordwide GmbH for 2 years.
Dr. Thomas Schmidt, Lead Engineer Data Modelling.
- Postdoc Research at ICSI Berkeley for a year.
- Research fellow at BBAW Berlin for 8 months.
- Research fellow at Hamburg University for 11 years.
- Developer at Institut für Deutsche Sprache Mannheim for almost 4 years.
Fabian Schlarb, Lead Engineer Testing.
- Technical Integration Engineer at Opel for almost 2 years (ongoing).
- CAE Development Engineer at Opel for almost 6 years.
- Application Engineer, Brake Controls at Continental.
Blockchain development experts
No team member with blockchain development expertise. However, the team is not developing a blockchain. Additionally, one of the project’s advisors, Oleksii Matiiasevych, is an experienced blockchain developer.
Token economics experts
No team member with token economics expertise. However, Patrick Lowry, an advisor to the project, is an established financial analyst; he is also the Managing Partner and CEO of Iconiq Lab Accelerator, an ICO and token launch accelerator program.
Token sale structure experts
The token sale is managed by Ambisafe Financial, an initial coin offering solutions provider company.
- The project is tackling a pressing problem.
- Team has a strong enterprise software and business integration background and domain expertise.
- Advisors with profound expertise in the target market.
- Unibright is backed by an existing German company (SPO Consulting GmbH) and already they have a customer base.
- Low hard cap.
Potential risks for investors
- No prototype or working product yet.
- Community growth was inorganic — part of it was brought about by a bounty campaign.
- Unibright is competing with companies that are well-established globally (DragonChain, Simple Token, QLink etc.).
- Nothing written in this article is a legal or an investment advice.
- Information is provided on a best-effort basis and is subject to change without prior notice. Be sure to verify everything you read with a project team.
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