Unibright Framework for Blockchain Business Integration Review And UBT Token Analysis
Unibright empowers business process specialists to enable a complete blockchain based business integration lifecycle without having to be a coding expert.
We have been working in the field of business integration for 15+ years and launched our own cloud based integration platform in 2011. In 2016 we decided to empower cross-blockchain and cross-system business process integration and started Unibright.
Unibright is the first unified framework for blockchain based business integration.
We define business workflows visually and automatically generate smart contracts for various blockchains, smart adapters to connect to existing IT systems and smart query sets to monitor the ongoing business process.
The Unibright framework is blockchain agnostic, we describe business integration scenarios in a more abstract manner. By supporting the whole lifecycle of a business process we empower business process specialists to use blockchain technology without having to be a specialist in a specific blockchain implementation.
The Unibright process starts with defining workflows based on proven templates. Each template consists of a pre-defined standard workflow, suitable for a specific use case e.g. “Multi-Party-Approval”, “Request for Quotation”, “Milestone Payments”, and many more.
Inside the Unibright Workflow Designer the user picks a template and customizes the given standard workflow to his needs. System boundaries, necessary connections to IT systems and integration of other blockchains can be defined in the workflow as well.
The needed SmartContracts containing the business logic for the designed workflow are then generated automatically. They can be deployed to (and maintained in) a specific blockchain by the Unibright Contract Lifecycle Manager.
SmartAdapters for our UnibrightConnector allow the integration of various blockchains and ERP-systems. The corresponding SmartAdapter configurations are also automatically generated out of our workflows.
The ongoing process can be monitored by our Unibright Explorer, showing the state, transaction and information flow of all participating units. These business case specific “SmartQueries” are also automatically generated out of our workflows
Our global view on blockchain and off-chain technologies led us to present Unibright – the first unified framework for blockchain based business integration.
Unibright ICO Overview
The Unibright ICO and UBT Token sale are raising funds for a template-based, ERP blockchain integration system. Unibright offers a visual interface for the streamlined integration of business work and information flows along with the convenience of automatic smart contract generation.
The Unibright framework is designed to enable cross-blockchain and cross-system connections, providing a full-stack of components to connect disparate information silos from existing enterprise systems, increasing efficiency and productivity.
Unibright ICO Value Proposition
The Unibright Framework allows users to utilize and customize templates for a variety of business cases including multi-party approval, asset life cycles, shipping process monitoring and invoices, among many others. Users with no technical knowledge of blockchain can select and visually customize a workflow which can be deployed to bridge information between existing ERP systems.
The Unibright Framework consists of four 4 tools:
The UB Workflow Designer allows anyone, regardless of his or her familiarity with blockchain to visually define integration workflows, independent from any specific blockchain protocol
The UB Contract Lifecycle Manager allows users to transform a previously defined workflow into a blockchain specific smart contract code, publish the contracts, maintain existing contracts and generate automatic connection adapters (see below) for existing systems
The UB Explorer allows for the monitoring of ongoing processes from a single interface, amalgamating data from smart contracts and all systems that are connected via the template chosen by the user
The UB Connector allows on/offchain IT systems to utilize Unibright smart contracts and enables the creation of integrated cross-chain and cross-system workflows. An important piece of the UB Connector infrastructure is the SmartAdapter, which encapsulates all technical details needed to connect to a specific blockchain or ERP system. SmartAdapters bring dynamism to the Unibright Connector, enabling a vast array of integration possibilities.
At present, Unibright is testing their MVP, which connects Ethereum-based smart contracts to SAP ERP systems. Toward the goal of cross-blockchain scalability, Unibright is developing a Hyperledger-SmartAdapter and targeting major protocols as well.
Below is an example from the Unibright website of a “request for quote” use case for which a template has been created on the Workflow Designer:
The Unibright Token (UBT) is an ERC-20 utility token underlying the Unibright Framework. UBT is the only means of deploying smart contracts within the framework. Every UB Connector integration within an ERP system where information is exchanged will incur a transaction fee in UBT. It is also the only means of payment for services like deployment of SmartAdapters and integration of existing ERP Systems with the blockchain.
Only UBT can be queried and transacted within the Unibright ecosystem to guarantee standardization of the framework.
Unibright has adopted an enterprise friendly payment model to help streamline transition to UBT token usage. When a company onboards the product, they purchase a set amount of UBT using fiat. As an example, if one connection costs one UBT, worth $0.14 cents at the time of purchase, this price will be set for as long as the specified connection/integration is exchanging information.
Additional integrations are purchased according to the current price of UBT, remaining stable for the duration of that integration case, essentially on a subscription basis.
Unibright’s primary source of revenue derives from this model, which is congruous with existing ERP integration business models, including their own.
Finally, business-specific templates or system-specific SmartAdapters will be traded on a marketplace as add-ons, purchasable with UBT.
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.
- 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.
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.
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.
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 Strengths and Opportunities
The team are already running a successful ERP integration business which offers a predecessor cloud-based ERP framework called PIP. Unibright is built on aspects of the existing framework, which has been deployed by the likes of Lufthansa, Siemens and Samsung.
With a track record of success designing, launching and scaling their existing product to large enterprise clients, the team have proven their capability in the realm of ERP and gained a clientbase that is a great advantage for scaling Unibright. In addition to their existing product, an onchain MVP of Unibright connects SAP to Ethereum smart contracts. The team has also provided a video walkthroughof the frontend tools which have already been developed.
The team have paid careful attention to formulating a strategy and product that is dynamic enough for the unpredictable development of blockchain technology. While the Unibright ICO MVP is built on Solidity, continuing development for more protocols will follow.
Not only does the Unibright Framework allow for integration of different ERP systems by SAP and Microsoft, but the product will also ultimately be blockchain agnostic. This concept helps to future-proof the product from the uncertainty of the burgeoning industry.
Unibright ICO Weaknesses and Threats
While the awareness around business applications of blockchain is increasing, companies such as IBM are stepping in to offer their own ERP integration systems based on Hyperledger. As mentioned above, one integration of the SmartAdapter will be Hyperledger-based.
In an interview with Unibright ICO Founders Marten and Stefan, they highlighted the ERP/blockchain-agnostic character of Unibright as a means to grow in conjunction with the proliferation new blockchain systems from big tech companies instead of engaging in direct competition.
The use of Unibright to bridge ERP and blockchain systems between enterprises is especially promising in this regard. The team’s previous success with PIP has proven the viability of this strategy on a smaller scale, as their list of enterprise clients demonstrates.
The most pressing uncertainty pertains to the question of when and to what degree mass integration of blockchain with ERP systems will occur. At this stage, Unibright is tasked with the challenge of convincing both existing and new clients to adopt their blockchain product.
While the benefits may seem immediately obvious to some, it’s important to keep in mind that large enterprises can be notoriously slow at onboarding more efficient systems. This is where the importance of leveraging partnerships and appealing to their existing client base will prove crucial.
As a means to encourage onboarding, enterprises that wish to experiment with blockchain integration can utilize Unibright’s Workflow Designer freely and deploy the UB Connector on a single business case if they would like to explore the benefits of the Framework without incurring a large cost.
This model of incentivizing adoption, in addition to the ERP and blockchain agnostic character of the platform, could potentially help mitigate reluctance to onboard the product.
At this early stage in the market, we will pay special attention to further indications of progress on the business development front.
The Verdict on Unibright ICO
The Unibright ICO is led by a highly competent, cohesive team with an established grip on their target market. The design of the Unibright Framework is well conceptualized and the success of their cloud-based ERP product adds more credence to the project.
On the other hand, the question of adoption and scaling casts a level of uncertainty; the future will become more discernable as signs of progress appear.
Learn more about the Unibright ICO from our Telegram Community by clicking here, and remember to check out our other ICO Reviews.