Unibright (UBT) is a project that has been generating quite a bit of interest recently. So much so that the UBT token has been rallying in price as traders have been snapping it up.
However, behind the impressive performance is a really interesting project that is looking to take enterprise blockchain adoption to the next level. Unibright is also looking to be the connecting fiber between the open source Ethereum network and companies. So, is it really worth considering?
In this Unibright review, I will attempt to answer that. I will also take a look at the long term use cases and adoption potential of the UBT Token.
What is Unibright?
Unibright (UBT) is a fairly new blockchain project that’s self-described as the “unified framework for blockchain based business integration.” Whew! That’s quite a mouthful, but what exactly does it mean, and how can we use Unibright?
In essence Unibright is being created to give companies and other organizations the ability to utilize blockchain technology without the extensive costs, huge hassle, and the need for a large corps of developers.
Instead, businesses are able to use the visual workflow created by Unibright to create and launch smart contracts on an appropriate blockchain. And it can all be done without any coding skills whatsoever. There’s no blockchain skills required, no smart contract development knowledge, not even traditional software development knowledge is needed.
Unibright has even gone to the trouble of including a number of business use cases right within the system. These include cases such as invoicing, shipping process monitoring, asset life cycles, multi-party approvals, and many others. Users can easily select their use case and then create a custom workflow. This can then be deployed in a way to bridge the information between the new blockchain and existing systems, such as ERP.
Unibright Technology
In the simplest terms the Unibright (UBT) platform was created as a simple framework that individual businesses can mold to their own specific needs.
It will allow managers to use blockchain solutions in their everyday operations with little risk, while saving costs and increasing productivity and efficiency. Unibright is designed to finally close the gap between blockchain technology and traditional business applications.
The Unibright framework currently contains four distinct tools:
The UB Workflow Designer
This tool allows anyone, even those with no blockchain experience or knowledge, to define workflows visually, and without any reference to a specific blockchain protocol. The UB Workflow Designer allows its users to choose an existing template and them customize it to their workflow needs.
This visual designer can even define integrations with other blockchains and IT systems, as well as setting system boundaries. Once the workflow has been created the system automatically generates the needed smart contracts with the necessary business logic.
The UB Contract Interface
This is the central part of Unibright’s ecosystem. With the UB Contract Interface users are able to make changes to previously designed workflows, transforming them into smart contracts specific to a blockchain. They can then publish the smart contracts, maintain them, or automatically generate templated connection adapters for existing systems.
The templates that are made available to users of the Unibright (UBT) ecosystem have been designed around predefined business workflows, and are presented at a high level of abstraction. The development team plans on maintaining the templates, enhancing them as needed, and creating new templates to serve new use cases and industries.
The UB Explorer
The UB Explorer provides a simple interface where users can monitor all ongoing processes. Data is collected from the smart contracts, as well as from any systems that have been connected to the chosen template.
The Explorer provides Smart Queries that present useful information and are automatically generated based on the specific workflows. This way both on-chain and off-chain data can all be presented together in an easy to read and extremely useful dashboard.
The UB Connector
This is how Unibright (UBT) allows off-chain systems to access and use Unibright smart contracts. It also enables the creation of cross-chain workflows, and cross-system workflows.
It does this through the Smart Adapter, which takes all the technical details needed to connect a blockchain or ERP system and transforms them to allow the connection to happen. Smart Adapters make the Unibright Connector dynamic, and enable a massive variety of integration possibilities.
UBT Token
Accessing the Unibright (UBT) framework requires UBT tokens. Users deposit whatever number of tokens required for their usage. To acquire tokens users must buy them on the open market. Unibright even offers to help if the users need assistance in purchasing through an exchange.
There were some concerns expressed by the Unibright community at this setup, as some felt that large enterprises couldn’t be expected to go to an exchange to purchase tokens, but this hasn’t been a problem to date and all users have been able to acquire whatever tokens they need from IDEX. In order to determine how many tokens are required users can access a calculator that will tell them how many tokens they need for 30 days of usage.
These 30 days of usage is a crucial part of the UBT token model. It was setup so that a user initial deposit must be large enough to cover a minimum of 30 days usage. This allows them to later make use of a “Rebuy contract.”
What happens when the contract ends?
Once the contract ends the user needs to deposit more tokens which they’ve purchased on the open market. They sign a new contract and these tokens are then locked into the platform. This means new tokens must be purchased each time a Rebuy Contract expires.
Final Thoughts
By looking for ways to offer blockchain technology in a simple manner to businesses and enterprises Unibright (UBT) is taking on one of the most critical areas to the adoption of blockchain technology.
Businesses need this new technology for its productivity enhancements, efficiency, and cost-savings potential, but are hesitant to adopt technology with a steep learning curve. With the Unibright solution there’s no need for a business to have any knowledge or expertise in blockchain, but they can still benefit from the technology.
While the team behind Unibright did not come from a blockchain background themselves, they still seem extremely capable, and that could actually give them an advantage in creating solutions that work for non-blockchain companies. Plus having a parent company with several decades of experience in a similar business must work in Unibright’s favor.
