Use Case: How Unification Benefits Service Apps
At Unification, we believe that the innovation of the future lies with the potential of data. As we unlock ways to share data more fluidly, we can produce massive breakthroughs in both science and technology.
Unification was designed to help the power of data reach its greatest potential. Our platform seamlessly standardizes data into a single, unified format, allowing diverse data sets to be exchanged and correlated seamlessly across a wide range of industries and technologies.
The ability to handle data more fluidly is highly useful to a wide range of enterprises and applications. In this article, we discuss the ways that CoinSparrow, one of Unification’s enterprise partners, utilizes the Unification platform to generate the data exchanges that allow their product to function.
Unification’s benefits to enterprise partners
The decoupled architecture of our product suite also enables enterprises like CoinSparrow to access a number of key features & benefits of blockchain technology, without having to rebuild their systems from the ground up.
Notable among these are:
Universal backwards compatibility
Unification’s proprietary SDK, CAPSULE, can be integrated seamlessly into existing tech stacks. This allows enterprise partners to incorporate the benefits of blockchain technology listed above, without having to rebuild their systems or rewrite code. Unification uses blockchain only where absolutely beneficial to enterprise partners, creating a more nimble system to integrate with blockchain than was previously available.
Universal sign-in system
Unification’s single sign-in system helps enterprises uniquely identify a user, accessing data about their behavior from various sources that are also integrated within the Unification ecosystem. This allows enterprises to compile more information about a particular user than they can ordinarily access, if and only if the user has granted permission for that data to be shared.
Verifiable identity
Unification’s use of Web of Trust cross verifiable VC/KYC allows enterprises utilizing UVCID to streamline their user verification process and ensure that users are representing themselves with their authentic identities online.
Cryptocurrency integration
The Unification platform allows businesses to seamlessly integrate cryptocurrency payment options with existing payment gateways. Enterprises can accept cryptocurrencies as an additional option without compromising their current payment systems & with lower transaction fees than existing fiat gateways.
Automated Smart Contracts
Once Enterprises integrate into Unification’s ecosystem, they will be able to utilize data interoperability features & optimization via Unification’s automated Smart Contracts, saving massive resources in time and money required to not only coding but also audit bespoke contracts
Increased functionality
Once data sets are standardized via Unification’s machine learning-driven protocol, they can be more efficiently correlated with each other. This reveals patterns within data sets that are invisible to the naked eye, creating better data for algorithms to build upon and revealing new opportunities to grow app functionality.
Example: Given the complementary nature of hospitality businesses and the amount of redundant inventory that is the norm in that industry, it’s possible for these businesses to build internal data transfers whereby remnant inventory of the hospitality industry is offered across partners to end users with the right assumed intent, determined by itinerary, GPS locations, and financial information. In this instance, user affiliations or interests (declared or assumed) based on the user’s profiles are incorporated to build the best offer for both them and businesses.
A golf course that has a cancellation or open inventory can offer the excess inventory of a particular tee time. The golf course will initially offer that inventory to its internal customer base, by building a larger exchange via a state channel with other hotels, airlines, car rentals agencies, etc, they also extend that offer to other users outside their immediate customer list who have previously registered interest or activity about golf, or who may display a higher complimentary spending pattern.
Marketplace-generated leads
Users can use BABEL, Unification’s front-end interface, to browse Unification-enabled companies and begin using apps and service that integrate with the platform.
Users are incentivized to engage with companies that are integrate within the Unification platform both given a financial compensation to them and the ability to control their data permissions/sovereignty.
Enterprises will at the same time be able to attract and new users at a much lower acquisition cost, given the user’s existing inclusion in the ecosystem.
How CoinSparrow utilizes Unification to serve its customers
CoinSparrow is a crypto-concierge marketplace that allows people to conveniently access a wide range of product and service providers (‘sparrows’) on demand, and pay with Ethereum safely through escrow-based smart contracts.
CoinSparrow’s use of the Unification platform illustrates a number of the ways that Unification’s protocol can benefit apps more broadly.
Seamless integration
When joining the Unification ecosystem, CoinSparrow integrated CAPSULE into its existing tech stack. This was a simple process allowing CoinSparrow to access Unification’s features without writing code or dramatically reconfiguring their current processes.
Unified Verifiable Credentials Identification (UVCID) system
Upon creating a Unification account, CoinSparrow users are assigned a Unified Verifiable Credentials Identification (UVCID). This UVCID is cross compatible throughout the whole Unification ecosystem and allows the specific user’s activity to be compiled and shared as a single data profile.
Reduced risk of fraud or fragmentation
Due to the additional layers of KYC/AML built into Unification’s UVCID system, CoinSparrow has access to additional layers of identity verification that were previously unavailable, combined with enhanced privacy settings. This increases escrow rates once users claim and setup up their Unification accounts, with minimal risk exposure as an enterprise or to users themselves.
Additional cryptocurrency payment gateways
Due to the added functionality provided by the Unification platform, CoinSparrow will be able to offer additional crypto payment offerings beyond Ethereum. Exchanges with these new currencies can be conducted seamlessly by Unification’s payment gateway.
New methods to attract leads
Because CoinSparrow is part of the larger Unification ecosystem, in which users who agree to share their personal data are rewarded with UND tokens, end users are incentivized to seek out businesses that are also integrated with Unification. UApps — apps that have been integrated with Unification’s SDK — are listed in a directory in BABEL.
CoinSparrow uses the BABEL network to help enterprises gain exposure (both paid and organic) to new members who have affinity for services offered in the platform. This exposes CoinSparrow to a new customer base and dramatically lowers customer acquisition costs.
Enhanced app functionality
CoinSparrow uses Unification’s data standardization processes to exchange data with other enterprises. This allows CoinSparrow to acquire data from other enterprises, which can instantly be combined with CoinSparrow’s own data to better match existing members with offers in its system.
By acquiring data from travel companies, CoinSparrow gains insights into the fact that their users who have purchased a plane ticket have expressed interest for entertainment options during their trip, but have not made a purchase. CoinSparrow’s algorithms can then predict entertainment options the user might like and present them for sale within the app.
Enabling apps to access the benefits of blockchain & unified data
For enterprises to succeed in the coming decades, it will be critical that they pay close attention to the ever-increasing pace of innovation. Seeking to stay ahead of technological advancements is the only way to survive in our modern world.
Unification provides the opportunity for forward-thinking enterprises like CoinSparrow to adopt the benefits of these new, cutting-edge technologies, without having to overhaul their existing tech stack.
If you’d like to learn more about Unification’s vision for how unified data is changing the way enterprises function, check out our article, “Why Unified Data is Inevitable — The Relevance to Enterprise.”
Learn more about Unification
If you’re interested in what we’re building at Unification, there are several ways to get learn more.
The best place to start is our Telegram group, where I and other members of the Unification team are present to help answer any questions you may have about the project.
More details can also be found on our website and our Medium publication.
If you’d like to go deep, I highly recommend you dive into our technical paper and white paper (both available on our website).
We’d love to hear your feedback.
