UniBright has made headlines often lately, and for good reasons. While Ethereum has been around for more than five years, additional solutions are needed to meet businesses' requirements to apply blockchain technology.

Why was UniBright been created?

According to Ruud Huisman from UniBright, around 80% of business processes can be automated on the blockchain using templates, while 20% require custom-made solutions. On Ethereum, all smart contracts and transactions are publicly available. As everyone can track blockchain information, businesses need solutions that keep their data safe while still communicating with other companies.

UniBright has a team of blockchain specialists, architects, developers, and consultants with more than 20 years of experience in business processes and integrations. They found that the biggest issue for companies, especially for the small and medium-sized companies, is that hiring developers is expensive. To solve this problem, UniBright developed the UniBright Framework: a solution that integrates business processes into blockchain by using templates, without requiring any coding for businesses.

The UniBright Framework can function independently, or with the Baseline Protocol.

The Baseline Protocol is an approach to using the public Mainnet of Baseline Protocol as a common frame of reference between different systems, including traditional corporate systems of record, any kind of database or state machine, and even different blockchains or Distributed Ledger Technologies like Ethereum. Baseline Protocol is an open-source initiative from EY, Consensys, Microsoft, UniBright, and other companies. It is particularly promising to reduce capital expense and other overheads while increasing operational integrity when automating business processes across multiple companies.

While the UniBright Framework can function without Baseline Protocol, businesses gain multiple advantages when using the Baseline Protocol, such as the following:

  • Automate B2B agreements without creating new silos (a closed blockchain that can’t communicate with other blockchains like private blockchains do).
  • Integrate new relationships with existing ones flexibly without losing system integrity or adding integrations on top of integrations.
  • Enforce consistency between different parties’ records without moving the data or business logic from legacy systems.
  • Enforce continuity in a multiparty workflow (e.g., an invoice always agrees with the purchase order) while compartmentalizing which parties know the details in each step.

What solutions does UniBright offer?

Ruud Huisman provided two great examples to get an idea about what the UniBright Framework is and its impact.

“Before Microsoft Windows, we had MS-Dos. You had to know how to code to be able to use a computer. When Microsoft came up with icons, you didn’t have to code anymore, and everybody could use computers. Another example is what WordPress does for creating websites. There are many templates you can use for different kinds of websites. The UniBright Framework's impact, in combination with the Baseline Protocol, will have a similar impact on business processes. It will have a huge impact on businesses.”

The UniBright Framework starts with a workflow designer that allows multi-party approvals. When working on a new product, multiple departments (or companies) have to give approval or feedback on decisions. A user can easily design workflows and validate them. While validating, the system checks whether or not all parties have been integrated into UniBright and creates smart contracts afterward. This allows all parties to use their software and systems. UBT, the token of UniBright, functions as the UBT blockchain's fuel and allows UniBright to be blockchain agnostic, which means that the UniBright Framework can operate on any blockchain.

UniBright recently announced that it is working together with SAP, and that Unibright is now available to SAP customers in their SAP Appcenter, where it also says:"Additional UBT tokens are needed." As far as we know there is no other crypto company that has this feature, where SAP tells their clients that they need to buy a cryptocurrency (UBT) if they want to use a particular product.

Who is using UniBright?

Currently, the UniBright Framework is being used by Coca Cola bottlers in North America. Prior to UniBright, Coca Cola used Hyper Ledger, but this limited them to Hyper Ledger’s private chain. Using UniBright offers more flexibility and opportunities as it will allow their private chain to work together with other software, systems, and blockchains. Other partners and clients of UniBright include Microsoft, Deutsche Bahn, and Tolar.

UniBright will continue working on Baseline Protocol, more integrations, and consulting companies to optimize their solutions.

UBT

The UniBright token is a vital part of the UniBright Framework. The Universal Blockchain Token (UBT) is required for every component. UBT is necessary to work with smart contracts on the UniBright Framework, as well as the UniBright Connecter if companies want to use Baseline Protocol. There is a token calculator to find out how many tokens you need per month.

One of the best features of the UBT token, is that the UBT that is purchased by companies to use the Framework, or UB Connector to Baseline, will not return to the market. This means that if a company like Coca Cola needs for example 500.000 UBT for their business processes, those tokens can be easily bought by their joint venture partner Provide (who purchases UBT from the market so that the client doesn't have to deal with cryptocurrency themselves), and after they have been bought, they will NOT be sold back onto the open market. This means that the circulating supply will get smaller and smaller. For more details, please read the token model.

UniBright trading

Unibright (UBT) is a newcomer to many of the major crypto exchanges. As a result, many people do not have access to much of UBT's data. A lack of data makes technical indicators unreliable on the higher timeframes. Thus, support and resistance levels are the way to go for most traders.

Support and Resistance

This summer, UBT has formed two support levels. The first support level, where the price is currently, stands between 28,500-24,500 Satoshis. Ever since the price made a breakthrough in April, UBT has held this support level staunchly. The token has already bounced several times off this level, and it is likely to do so again.

If the current support level breaks, then we could see the price head to 11,300 Satoshis, 60% lower than the current level.

If the price does bounce on this current level, then we could see the price reach at least 48,000 Satoshis. This is a critical resistance level, which UBT has broken only once. The next resistance level thus stands around the all-time high at 66,500 Satoshis.

UBT General Guidelines

UBT is currently a very volatile coin. It can double its price in a single week or lose a significant percentage quickly. Thus, it is essential to be prudent with your investments or trading and use a position size that you can afford to lose if the trade/investment goes against you.

Due to its high volatility, UBT tends to create long wicks. Long wicks are a double edge sword when it comes to trading. On the one hand, they are great because it makes it easier to reach your profit target. On the other hand, they are harmful as they are likely to hit your stop loss. Therefore, you need to be careful when using a stop loss with this token. It might be better to go with the Parabolic SAR or the ATR as your stop loss rather than a specific percentage.

Want to learn more about UniBright? Check out UniBright's website or have a look at UniBright's Telegram channel.

Special thanks to Ruud Huisman, Marketing Strategist a Unibright.io.

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