Universal Labs - A protocol for the decentralized ownership exchange

Universal Labs is building the state-of-art blockchain solutions designed to facilitate digitalization of asset ownership and making it transferable through the help of Ubbey Network and the OWP protocol. These solutions working together with DApps built on top of the OWP protocol, are made with the ultimate goal of bridging the gap between physical and virtual universe and creating a frictionless ecosystem for peer-to-peer transactions of all types of assets.

Unlike the public cloud, no information about you is collected. Your files are encrypted and distributed across our decentralised network. Only you have access to your data and files.

Store Files At The Best Rates – With Universal Labs’ decentralised global cloud storage network, enjoy highly affordable prices when you store your files in the network – saving up to 90% of storage cost compared to options including Dropbox and Amazon Web Services.

Earn Money For Sharing Your Storage – Share your storage space with the network and earn YOU Coins, a cryptocurrency that can be used to pay for services within the network or cashed out for real-world dollars.

No Downtime – With just a stroke of a key, retrieve your data at any time and from anywhere in the world giving you unrivaled up-time when it comes to accessing your files.
“We are building the world’s decentralised cloud storage network where you get total control of your files while enjoying rock-bottom pricing tied together with personal ownership, maximum privacy and enterprise-grade security.”

The Idea
The Ubbey Box is a device that serves as a personal cloud storage, the first version of which is available with 1 or 2 TB of space. The box users can store and access their data from anywhere and anytime. The box can be connected to various devices such as TVs or game consoles. But in addition to storing data, the Ubbey Box also serves as a full node for the Ubbey Network, effectively meaning that owners of the devices can use it not just as a storage but also earn some network reward in the form of YOU token.

Universal Labs was created to solve a series of shortcomings presented by incumbent infrastructures:

▪ Digital data ownership: It is hard to assign ownership on data. It is even harder to claim, enforce and monetize that ownership.

▪ Universal solution: Lack of a universal protocol for the transaction of digital assets.

▪ Verification of physical assets: Difficulty for the average consumer to differentiate original products from counterfeit ones (e.g. Luxury handbags, luxury watches, fine arts, wines, etc.)

▪ Limitations of current cloud model: Inability of the current cloud service model to service exponentially increasing throughput. This goes on top of the aforementioned costs of setting up personal cloud systems and the risks of data loss due to device failure.

The Token
The Ubbey Network uses YOU tokens to ensure its proper functioning and pay the transaction fees. It is also needed for the creation and execution of smart contracts as well as exchange, storage and recovery of data.

The total supply of the YOU coin is 10bn. Forty per cent of all token will be sold (4bn) during the token sale. The price is pegged to ETH, with 1 ETH giving you 100,000 coins. The hard cap for the sale is 40,000 ETH.

The Product
As of now, the ULabs has already sold the first shipment of 1,000 Ubbey Boxes. The testnet will be launched in October, while the mainnet and OWL protocol are expected to be fully integrated with the device in December.

USEFUL LINKS
ULabs website: https://ulabs.tech
ULabs Telegram: https://t.me/universallabs
ULabs Blog: https://medium.com/@pr_52730
ULabs Whitepaper: http://ulabs.tech/images/Universal-Labs-WhitePaper.pdf
Authors Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2111187;sa=showPosts