What is Ubiq? For non-techy Crypto Enthusiasts
Simply put, Ubiq is the stable, enterprise-ready build of the Ethereum blockchain. Ethereum is a cutting edge technology that is continuously evolving and leading in development but, as a result, is consistently in an alpha stage. There is nothing wrong with an alpha stage, as it is where the majority of advancement occurs. However, for enterprise-wide solutions, an alpha technology is far too risky to release. It contains bugs and vulnerabilities that cost large sums of money to fix and update at later stages. Take windows for example with the recent ransomware attack on over 200,000 pc’s in over 150 countries; this is the reason the massive companies worldwide are still using Windows 7 and not the unstable, untested and most of all vulnerable windows 10 build. As such, for large scale enterprise applications, a stable build with all working features are preferred. This is Ubiq’s value proposition, the reason it’s on the map, and the reason the community behind it consists of some of the brightest and most experienced individuals in cryptocurrency. Ubiq will only take tried and tested features from Ethereum to implement on to the Ubiq blockchain.
The story of many cryptocurrencies began with an ICO (initial coin offering) or a premine; where the general public, made up of cryptocurrency investors like you and I, handed over bitcoins(or Ethereum tokens) in exchange for some early premined coins. These funds provided the necessary capital to build and develop the cryptocurrency. In some cases, the development team collects these funds and runs off to live happily ever after. In other cases, the team works on the coin for the promised amount of time, as per the budget established in the whitepaper, and then sells the remainder of their coins and again, lives happily ever after. Don’t get me wrong, many coins that begin this way turn out to be incredible world changing products with the best example, Ethereum. However, with an ICO, there is always the risk for investors that the development team disappears and their funds are lost. With the case of Ubiq, the development team has donated their time free of charge to the development of the Ubiq coin. There was no ICO or premine and any Ubiq coins that the development team possess were obtained either through mining or through purchasing on one of the exchanges. Take a minute to think about what that means. The developers have the same interest in the price of Ubiq just as you and I. We will be seeing the developers and investors in the same rocket headed for the moon.
The team, the investors, and the believers of Ubiq, all obtained the coin the same way. Just like the investors, the team wants the best for Ubiq and has incentive to make it the best product possible. There is no risk of the team walking away because that would devalue their holdings.There is no risk of the developers dumping their holdings after a “promised time to work” because again, that would devalue their own holdings. Your investment in Ubiq carries the same weight as the development team’s investments. Lastly, the development team covers the costs of conference attendance out of pocket (three so far this year).
The Ubiq team attended three AI Fintech conferences in Toronto, Vancouver and in Lagos, Nigeria
These conferences were attended by the heavy weights in Fintech (global banks, private equity firms, venture capitalist, etc) and Government bodies. These heavy weights understand the value of Ubiq, and is the reason Ethereum Enterprise was not present at any of these conferences. In addition to the value that Ubiq provides to these enterprise scale heavy weights, the Ubiq team brings forth experience unmatched in cryptocurrency and the world of Blockchain. The team is led by Julian Yap, a cryptocurrency code auditor for the Bittrex exchange; i.e. the one person that reviews the code for any cryptocurrency that requests listing on Bittrex. Julian has seen a lot of code, a lot of coins, and can certainly speak to strengths and weaknesses of the 700 some cryptocurrencies out there. Luke Williams acts as developer on the Ubiq platform is an integral part of the team bringing experience from projects such as Iquidus Explorer; a blockchain search tool used by a countless number of ledgers in the industry. Kris Hansen, a developer on the Ubiq team is an experienced developer in the Fintech community and holds the position of Senior Principal — Financial Services at SAP. Kris brings forward a network of Fintech companies that see the value that the stable build of Ubiq provides. Completing the team is Alex Sterk who acts as community manager and brings forth tremendous knowledge of the cryptosphere. Alex also runs the hit crypto talkshow ‘BlockTalk’.
Just as with Ethereum, the Ubiq blockchain codebase acts as a means for other to create tokens. Thus far, two have successfully launched with the most recent APX raising well over 1100 bitcoins during their ICO. Qwark and Signum , are other projects running on the Ubiq network. Other new projects have been confirmed by Alex Sterk to be launching on the Ubiq network in the coming months and I am certain there will be many more. In fact, I have an idea for a soon to be announced dApp running on the Ubiq network.
Aside from the points above, the team is very friendly, helpful and the reason the Ubiq Slack is full of some of the most well-known crypto traders, developers of other coins and many others from the crypto world. Come join us to learn more!
I am long and strong, a proud Ubiq holder. Hope you enjoyed the read and learned something about this incredible project.
Hughit and Jeewaka