Unibright ICO Review And Complete Analysis Report

Unibright ICO Review
Unibright ICO Review

Unibright ICO Review And Complete Analysis Report

UNIBRIGHT ICO Review

An existing company with a good track record combined with an impressive list of partners and clients, Unibright ICO has a lot going for it. In an environment where blockchain has so much potential and admiration, a project that can integrate the existing businesses with blockchain technology surely seems tempting. That’s why we have taken it up to provide you with a Unibright ICO Review to understand what exactly it has to offer the investors.

Important points

  • Start date for token sale– April 10th 2018 at 1:00 PM UTC (14:00 CET)
  • Maximum Supply – 150 Million tokens
  • Price – 1 UBT = 0,14 USD
  • Minimum Cap (including all pre-sales) – 2,200,000 USD
  • Maximum Cap (public token sale) – 13,542,375 USD
  • Accepted Cryptocurrencies – ETH, BTC, others via Shapeshift.io

Value proposition: Blockchain-based business integration

The company defines Unibright as “a unified framework for blockchain-based business integration and a set of applications leveraging this framework.”

A team of developers that has over two-decade experience in business integration, the aim of the UBT ICO is to integrate blockchain technology into an existing business.

With the belief that blockchain technology is only going to become pervasive, the aim of the project is to enable a secure and efficient business integration by making the use of this technology more profitable and feasible. The company further boasts of being “confident to be well positioned to become the first provider for blockchain based business integration.”

The evaluation time!!

  • An intricate whitepaper

The whitepaper of the project is extremely detailed in explaining its concept, framework, and ecosystem of how exactly Unibright will make the business-blockchain integration happen. Presenting the audience with the challenges and the respective solutions, the whitepaper talks about the multiple use cases of the project and provides various templates as well.

The prototype of the project is available that currently connects the SAP system of the company to the smart contracts of Ethereum. They will be focusing on the tools part in the second quarter that will be ready as beta versions by June end. The backend parts like mapping engine and code generation are already developed for the prototype whereas the frontend is yet to be integrated.  

As for the crowdsale, the company is using the web wallet. The whitepaper of the company provides a clear token sales distribution where about 50 percent of this sales would go for platform development, up to 20 percent will be reserved for template generation for business use-cases, PR and marketing department will be given the 15 percent share and the remaining 15 percent of the sales proceeds will go to bootstrap pilot customers and set up partnerships in the industry.

  • Team profile & Impressive list of partners & clients

Having a Germany focused team of 14 people, the project has a CEO, CTO along with other departments like engineering, marketing, and communication. About half of the team is working as the advisors of the project.

Unibright ICO Review
UNIBRIGHT ICO: Team
  • Marten Jung – CEO, Founder, and Head of Blockchain Development
  • Stefan Schmidt – CTO, Co-Founder, Head of Software Architecture
  • Patrick Lowry –  Managing partner & CEO, Venture capitalist with 8 years of experience. PwC auditor and startup co-founder/CFO with an MBA, CPA license.
  • Prof. Günter Schmidt – Model Advisor, 40+ years experience in mathematical modelling, abstracting and concretion

The team basically boasts of highly skilled and competent people with years of experience in their respective fields. When it comes to the advisory team, it is rich with broad industry experience.

Partnerships: With names like Microsoft Partner, Chainium, Ambisafe, Iconiq lab and Zuhlke, this German company is all set.

Clients – Just like partners, Unibright already has some big clients to its name viz. Samsung, Lufthansa, Unilever, Siemens, ABB, Nestle Waters, Radeberger, DG Verlag, RHI Magnesita and OpenStorage AG.

Unibright ICO Review
UNIBRIGHT ICO: Parameters
  • Business model

Given the rising demand and growth of blockchain technology, the idea presented by the Unibright holds a substantive weight. Furthermore, with the aim to ease the difficulties regarding the availability of skilled blockchain engineers, applying smart contract to blockchains, integrating blockchain into the existing business and transforming the blockchain data into something useful, the project addresses valid problems and brings forward legit solutions.

The Unibright token (UBT) will be releasing 150 million in total whose purpose is to empower the framework of Unibright. In order to register for the smart contracts of Unibright, one has to pay in Unibright Tokens which is the only option available.

Moreover, if one wants to avail the additional services of Unibright, say smart adapters to integrate the current ERP system to the blockchain, Unibright Token is the only way to get that.

The token sale will be managed by the blockchain services and ICO solutions provider, Ambisafe Financial that has successfully managed over 15 token sales in the past.

  • Backing technology: Ethereum-based ERC20

The project is based on the Ethereum blockchain that is currently a well known and most used technology for the ICO projects. Having a team of 7 advisors with dynamic industry experience from fields like blockchain, cryptocurrency, ERP system, Start-up and strategy, the project showcases a good potential.

The UBT ICO doesn’t provide any such terms and conditions that an investor needs to follow, though they have given all the details regarding their entire project, the objective they wish to achieve, framework and future expectations.

  • Crypto-sale resiliency

The company is incorporated in Germany where the tokens are basically utility ones and operators of ICO have to fulfil certain conditions.

The Unibright token distribution of 150 Million tokens will have the biggest chunk that is 67 percent of these tokens up for the public sale. For the early purchasers, 9 percent will be set aside while 12 percent will go to the cold storage liquidity reserve. As for the team, 6 percent tokens will go to this department that will be locked for the 12 months and the remaining 6 percent is for the legal or token sale expenses.

Security is certainly the point of consideration for the company as both business integration and blockchain involves security in terms of encryption and validation, however, there isn’t any peculiar information for the same.

  • Community acceptance

The team has made its LinkedIn profiles available along with the Xing where you can get all the professional and educational qualification of the members in detail. As for the company, they are present on Telegram channel with over 7000 members. Apart from Telegram, they can also be reached out on Facebook, Twitter, Medium, and Reddit.

Unibright ICO Review
UNIBRIGHT ICO: Ratings

Average Rating: 8.5/10

  • Roadmap

Stage of project:

The parent company has been providing SAP solution since 1989 and has experience in enterprise integration for over 20 years that got into blockchain technology about 4 years back.

Right now, according to the project’s roadmap, the token sale will be in the first half of this year i.e. April 2018. The implementation phase would in the second quarter of this year while the fully operational product will come by 2020.

Red Flags:

The company doesn’t have its codes available on Github that can work against it, though they do want to establish a testing strategy in future and get their templates tested by other companies. Given the inherent complexity of blockchain, the idea of business integration isn’t as simple and smooth as it seems, the challenge would be to achieve it.

The attracting feature of the project is its partners and team but the execution of such sophisticated product will take considerable time. Being an investor, one needs more than just an idea to rely on.

A note to investors

The Unibright ICO project provides us with a clear but very technical white paper along with templates and a technical paper as well that talks about Unibright framework and ecosystem in extreme detail. Having a parent company and being in the somewhat similar business for decades, surely works in the project’s favour. The business model along with its team also shows credibility. However, in spite of having an attractive idea, the problem comes in the actual integration. The company certainly talks a big talk but the execution is where the company needs to show something substantial.

Methodology

To rate an ICO, we follow a list of parameters that are basically the KPIs (Key Performance Indicators) of a project viz:

  • Whitepaper – Availability of code or prototype, the breakdown of funds, wallet for crowdsale
  • Team profile – Team’s strength and reputation
  • Business model – Problem solved, purpose & utility of the token and the economic model
  • Backing technology – Blockchain infrastructure, clarity of terms & conditions and token software
  • Crypto-sale resilience – Incorporation, token distribution, legal risks and security aspect
  • Community acceptance – Clarity & frequency of communication and social media presence

By asking the right questions, we maintain the integrity and viability of our ICO review while following a rating method that is based on the criticality of a particular factor. For instance, elements like token utility and funds breakdown have been given the highest importance while the team members’ reputation and plan to attract a user base are of medium criticality.

We have a team of robust professionals who rate the ICO projects in completely unbiased manner.

Caution: Coingape publishes the ICO project reviews only for the information purpose. It is not an invitation for investment. When making investment decisions, conduct your individual assessment and consult with an advisor.

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Anjali Tyagi 321 Articles

Having a background in writing, I worked on a wide array of industry topics and have recently entered the world of Blockchain and Cryptocurrency.

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