UniBright is a blockchain for business project meaning they are working to connect the open-source smart contract networks and traditional companies. The project markets itself as the “Unified framework for blockchain-based business integration.” and is powered by UBT token.
What is UniBright?
UniBright provides solutions that will enable organizations to benefit from blockchain technology without incurring extensive costs. The platform enables companies to embrace blockchain without needing a whole new team of developers. By providing a framework that creates and launches smart contracts on any appropriate blockchain via using visual workflows.
This means companies do not need prior blockchain, smart contract knowledge. Furthermore, they do not even need coding skills to start using cryptocurrency and blockchain technology. Users just have to select their use case and create a custom UniBright workflow. As a result, you can think of it as a bridge layer technology. As a result, companies can use UniBright to create a bridge between their existing systems and the new blockchain.
What is the benefit of UBT Token?
If a user wishes to access the UniBright framework they need to have UBT tokens. Different usage scenarios will require a different amount of UBT tokens to be deposited. Therefore, there will be an organic demand for buying UBT tokens on the open market. UniBright also offers assistance in buying UBT tokens via an exchange.
Their model works off a monthly basis of usage. Potential users can calculate in advance how many UBT tokens they require for 30 days of usage. Once a user starts using the UniBright framework, it also allows them to sign a Rebuy contract. As a result, they will continually buy UBT tokens to use the UniBright framework on a rolling basis.
What is the future of UniBright?
At launch, there have been concerns that Entreprises and corporate businesses could not be expected to register on a cryptocurrency exchange to acquire UBT tokens. Surely buying tokens on the open market to start using the platform would be a headache. However, so far this has not stopped the platform from growing. And to date, all users have been able to acquire all the tokens from exchanges such as Uniswap.
UniBright has been able to develop major partnerships such as SAP, Microsoft, Iconiqlab, and Ambisafe among others. Perhaps more importantly, they have signed an important partnership with Deutsche Bahn to create a tokenized ecosystem for public transportation. Postively, this seems to imply long term usage for the UniBright framework.
UniBright aims to solve a critical barrier to the adoption of blockchain: package it in a simple way for businesses. Of course, whoever cracks this problem of blockchain b2b integration stands to gain massively. As a result, competition in this space is very fierce. Just take a look at Aergo, iExec RLC, or Algorand.