The UniBright project is described on its official site as being the “unified framework for Blockchain based business integration”. What does this really mean and what are the chances of this ICO being a success? Basically, it will let companies use Blockchain technology without the expense and hassle it currently involves.
The token sale starts on April 10 2018 and runs until May 10 2018, unless all tokens are sold out before then. The following are the basic details for the UniBright ICO:
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Token: UBT tokens
Hard Cap: $13.5 million
Payment Methods: ETH, BTC, others via Shapeshift.io
Total Cap Size: 150 million UBT tokens to be issued
Technology: Blockchain. They state in the White Paper that, “Although our current implementations work on the Ethereum blockchain, our concept enables us to be blockchain agnostic”.
Pre-ICO Date: N/A
Public Sale Date: April 10 – May 10, 2018
The UniBright team plans to help firms across the globe to organize their business by sharing information more safely and securely. To put it simply they want to make it easier for companies to integrate Blockchain technology into their existing business processes.
They have set up a contract interface and a series of templates to make it easy to use their platform.
Project Use Case
The UniBright White Paper covers a number of different possible uses for their solution. For example, a company that needs a quotation for materials can obtain this by using the appropriate template and waiting on offers.
In the same way, it is shown how the platform can make it faster and easier to get approval for new products. Another possible use is to monitor the current state of the shipping process. With these and other uses cases, the benefits of using UniBright are clearly explained.
UNIBRIGHT Team Overview
The UniBright team is mainly based in Germany. The CEO, Founder, and Head of Blockchain Development is Marten Jung. His bio on the site states that he has over 20 years’ worth of experience in business modelling and software engineering, as well as being CEO of a software development company.
Stefan Schmidt is the CTO, Co-Founder, and Head of Software Architecture. His bio reveals that a similar background to Marten. Their LinkedIn profiles reveal that they both studied at FernUniversität in Hagen.
Next on the list is Lead Engineer Frontend Ingo Sterzinger. His bio describes him as a Full Stack Developer with more than 15 year experience working in web application development. In total, there are 7 core team members mentioned.
The other job titles covered are; Lead Engineer Data Modelling, Lead Engineer Testing, CMO and Head of Marketing, and Chief Communication Officer.
Of course, the quality of the advisors is just as important as the core team on any ICO. In this case, there are 7 advisors here and it's equal to the size of the contributing team members as well.
First of all, Patrick Lowry is a venture capitalist and startup Co-Founder. Oleksii Matiiasevych is an Ethereum Architect and Klaus Tschirschke is a strategy advisor. Overall, the list of Advisors seems to be strong enough to provide a good complement to the main team.
How Does The Token Work
The UBT token will be the only type of payment allowable on smart contracts on this platform, as well as for additional services. A total of 150 million tokens will be produced, with 100.5 million of them included in the public sale.
What Do Investors Gain
The token sale sees the price of each UBT coin set at $0.14. However, early investors can benefit from bonuses. The first quarter of the tokens sold get a 10% bonus, while the second quarter gets a 5% bonus. Investors can also get a 5% bonus by referring others to the UniBright token sale.
Ideally, the price of these tokens will rise as the platform becomes more popular. As is always the case with ICOs, there is no guarantee that this will happen.
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Opportunities & Risks
The White Paper for this ICO makes a good case for this being the right time for a solution like this to arrive. The team have clearly done their homework and appear convinced that UniBright is going to change the way that companies do business.
The wide-ranging nature of this solution means that there is scope for it being adopted by many different companies on a global basis. They point out in their White Paper that this is all about making the adoption of Blockchain technology “more feasible and profitable” than it is just now. They aim to help businesses avoid the need to hire expensive Blockchain developers for their own systems.
As for the risks, this section of the White Paper covers fairly generic issues such as token storage and regulation. There is no mention of potential rival solutions. However, on their Telegram account the team has responded to questions by naming several platforms (MS COCO, SAP, Oracle, etc.) that could be seen as competitors.
ICO SIGNALS :
The UniBright concept is smart and has been well thought out. The idea makes sense and perhaps the biggest worry is that other people & larger companies are working on similar projects, with some closer to reality than this one.
Their White Paper is very technically detailed. However, potential investors may like to see more attention paid to issues such as marketing and financials. Understandably this is a consulting team that is transitioning to a much larger project they can call their own, but it's still a large endeavour for a team slimmer in the marketing department. The details of their tokenomics are also fairly light too.
As for the team, it is clear that the core team is very software minded and this seems right for this kind of project. They appear to have compensated for this with a good mixture of Advisors.
Overall, this is a solid-looking project but we certainly advise you to conduct your own research further and become fully convinced yourself of the projects future.