Unibright (UBT) Technology & Token Explained SIMPLY // w/ CryptoFiend

by birtanpublished on August 24, 2020

Ladies and gentlemen welcome back to the channel I hope you're doing well today I have Ryan from the channel crypto fiends welcome Ryan thank you so much for having me it is an absolute pleasure to be here and I am very happy to spread the word of this very promising project

Right on well he said it best it's a promising project we're talking about you know bright today and they just want to let you know we're gonna be talking about the tech today what you know brights text deck looks like what's

Their offering what does the you be Tito can do and all that sort of good stuff but if you want to learn about the really really important partnerships that you know bright has been putting together and killing it I might add

Please head over to Ryan's channel I'll link that video down below for you to watch after this one about all of that so without further ado let's hash out some of these you know bright technology details so do it

Awesome man so I think the best place to start is to help people understand the world of enterprise tech today and what these solutions are composed of and a lot of the things that you see now are you'll see pretty standard text decks

You've got people running on cloud infrastructure so you got Amazon Web Services Microsoft Azure Google cloud and then they run all sorts of apps and middlewares and websites and all sorts of things on that infrastructure and all

Of that oftentimes is parking the product so they have custom off-the-shelf products that you get you have to do minimal customization they have modular products like s AP and Oracle and things that help you run your

Business now this was the first revolution that happened when the internet came into the mix and businesses tried to get involved in it these businesses make so much money today because they've abstracted the

Complexities of building custom software for your business into packages that you can buy and that you can spin up in a series of clicks and with minimal effort so that's really where Yuna Brite is starting to play is they're saying

Blockchain is something that enterprises want to get involved in this is something that offers significant cost savings increased business relationships new business models and a bunch of other different benefits within enterprises

But it's very costly because blockchain developers are few and far between to fortune and beyond that a lot of businesses don't know where to start so you know brights built out this low or no code solution to allow you to as an

Enterprise spin up smart contract based applications from templates and publish them out to the blockchain so in this case they're very much aetherium focused right now but I think we're probably gonna see them spread out further to

Different protocols and in the future I think there's definitely potential there so the first piece of tech that I wanted to talk about is just that it's called the ubii workflow designer and this is sort of the module that an enterprise

Can go and pick up and they with no blocking experience no knowledge about blockchain and no development resources for this part of the project set up a visual workflow so let's say you're dealing with supply chain for example

And you have a workflow where a digital asset moves from one person to the next to the next to the next until it gets to an end consumer you can set up that workflow in a visual graphic user interface and this you know bright

Solution is going to put together a basically a blockchain ecosystem with smart contracts to establish that workflow on chain get everything connected up so Ryan for someone that doesn't come from a tech background

You're very much focused on the business side of things and how things work and why they're really powerful what do you how do you feel about something like this where you don't need to code to build this stuff it's it's definitely a

Different approach you know a couple years back I would have never thought any of this would be a thing but I think it's definitely definitely needed right now especially of course in blockchain you know you have all these companies

Out there that hear about blockchain it sounds great has phenomenal use cases and never seen before but these companies can't integrate it right now you know it's way too expensive I believe the average cost to integrate

Blockchain into your current databases and all that is between 500 to a million dollars a year and that's not suitable for the majority of company so what Yuna Brite is doing is absolutely genius it's needed and you know in the long run

They're going to be a maid a major driving force when it comes to institutions corporations and even retail consumers coming into the cryptocurrency space and of course blockchain yeah I agree I mean this is

So cool because my day-to-day job is building smart contracts often and I do a lot of other traditional application stuff as well you know web applications mobile applications that interface with enterprise systems and blockchain

Networks and so this would make part of my job a lot easier because I'll have security audited bug free to the greatest extent smart contracts based on a template that's powerful I'm a little bit worried about it to be honest though

Because this might put me out of a big part of my job which is doing the smart contracts which I really like doing granted it'll be easier I don't I don't think this is gonna totally replace the blockchain developer though because I

Think they're gonna be a lot of use cases and custom things that you want to do with a blockchain network that the templates might not have yet or you want to build something on the outside you might want to integrate a different app

With your layer of smart contracts so I think there's still room but this workflow designer is gonna be really powerful so I also wanted to bring this up one of the things that people often forget about is you know cloud computing

And the prevalence of cloud computing and oftentimes it's thought of just as infrastructure but in reality what makes AWS a huge business and one that dominates massive massive industries in enterprise tech is that they've

Abstracted away all the complexity in building simple things that you need for your business like an email server like bucket file storage with Amazon s3 all the way down to database services and all these things you can in a wizard

Basically click and configure this server for yourself and then you can go from there so it gives you that base level protocol to work from and build now this makes integration so much easier for developers and enterprises

Alike so I think yoona bright has taken this and said let's abstract the most painful part of blockchain technology for an enterprise and that is interfacing with the blockchain itself that's where all of the

Work is to make an app work and to integrate it with what you have so they have something called the UB contract interface which basically stems from what you do in the workflow designer and it basically allows you to make changes

To previously implemented contracts and workflows from the workflow designer and it allows them it allows you to publish these smart contracts and continue to maintain them for the rest of time but what it does that's most powerful is it

Allows you to generate adapters basically middlewares that integrate your systems with the smart contracts that you've put out onto the blockchain so this high level of abstraction for the interfacing with the

Blockchain network is something that I think I will appreciate the most if I get to use this stuff and you know in my day job it's it's something that people that learn this this technology should focus on if you're a developer because

It is the it's the money maker for sure because the complicated parts of it are all after your contract is done and making sure that it works the way you want with the other systems that you want it to work with so you be contact

Interface huge yeah I completely agree and you said it best with AWS I think Mark Cuban is phenomenal at really giving a good overview as to where we currently stand in crypto currencies and blockchain where it needs to go you know

He's really focused on saying people don't want to know about the technicals they don't want to know how blockchain works they just want to use it and they want it to work they want to use it without even knowing they're using it

And it's kind of like most people get into their car every day and they drive down the road they don't know how that thing works but it gets them from point A to point B and I think you know bright is going in that direction and they're

Doing it in a very tasteful way especially jumping into the enterprise sector for sure definitely you know this contract interface is a place where you can just basically manage your smart contracts dealing with

The you know publishing new contracts updating existing ones even in the future maybe pushing one contract to a specific chain and another to another chain that's really with this contract interface place then we move into the

Thing that I think takes that I guess distraction of what what I would call middlewares and api's to the next level and that is the ub or yuna bright connector service so this is basically something that allows you to take those

Workflows that you've set up and the contracts that you've set up and integrate them and the data that comes from it with your off chain services so that could be a company's existing sa P enterprise resource planning system so

If we go back to our supply chain use case they might track each movement of a certain asset and if the person who owns it at that time using s ap but they might want to facilitate payment for those products and track those specific

Custodian ships on the blockchain first and then publish back to sa P afterwards that would be a great use case for this connector but it would take out arguably the most volume of code that you have to write for a blockchain application and

That's all these specific api's application programming interfaces and handlers to handle each action and all the data that comes from these contracts with the system that you have so to give you a little bit of background right now

When an enterprise starts to play with blockchain they start to work with it and they start to invest in it they might build a proof of concept and that's basically can we make a smart contract based application you know

Create five blockchain nodes in AWS and and simulate what this would look like and then run that data into a sample version of what we have in our current systems a lot of these projects die before they ever get the chance to truly

Integrate with the real systems that would run their day-to-day operations and that means they've now spent money on something that's not usable and B they've run out of investment dollars and patients with this before they've

Gotten to the real money maker and they've gotten to really adopt it you know so there's been very levels of success but I think the ubii connector interface would be huge to take even a POC that you've already built and enable

You to connect it to what you already have in terms of enterprise tech without a bunch of overhead and extra cost to build from scratch so I would say if anything in this solution is underrated it

Be this you be connector I think there's so much potential for this to create interfaces with ERPs CRMs all sorts of things workflow management tools that we have in enterprise tech today I think it's fantastic

What are your thoughts yeah and I think you said it said it right how you know a lot of these companies are cunning kind of shy kind of trying to beat around the bush they're trying to not fully integrate the true the real deal you

Know they want they want the knockoff that's not the route to go with blockchain technology there you have it or you don't have it so I think for sure being able to integrate with you BT connect into current companies with

Their current software obviously would make the whole process a lot easier and of course cost affordable as well yeah and I think that harkens back to the original mission of unified that's to create solutions that are blockchain

Oriented for enterprises that are low to no code so very little technical overhead or technical debt involved as well as making it a less nebulous and complicated to deal with when you're going through that process of

Establishing what to build because you're building out a workflow as you would as a business process manager what do we do today and how do we turn this into a blockchain based process I think that's that's huge so the final piece of

This I guess you know bright tech stack or their product offering is called the UB Explorer and this is very much like what you'd see in a traditional black Explorer but with a bunch of extra cool features on top of it so think of this

Like the fancy user interface behind all of the smart contract work and all the adapters and connectors that you've worked on that we've talked about already this allows you to check in on your smart contracts and all your data

Sources in those smart contracts so we're talking state variables events custody of assets potentially data structures things that you built into your smart contract and your blockchain applications that you want to watch it

Allows you to put those up in a dashboard format much like you'd see it's something like click or click sense that's a really popular Enterprise dashboarding tool so I think this is huge but what really makes it valuable

Is that you can integrate or collate all the information from your on chain data like your smart contracts as well as your off chain data which is critical for any enterprise blockchain solution I think

People often think about enterprise blockchain as put move everything to the blockchain whereas it's really let's move certain things to the blockchain because the blockchain is not a database and it doesn't do the

Databases job very well it does other things very well so you still need off chain storage and tracking systems and other things that don't go on the blockchain itself so you need to be able to organize those things together to

Make the blockchain valuable and the data that's on it valuable so this would be I guess where you imagine an analyst or a business development manager or a manager within an organization they could go in and

Check and have a one-stop shop for all the data within their enterprise yeah for sure I it's it is very fascinating to see you know bright hitting every single point needed for this infrastructure yeah and they really are

Creating an ecosystem you know whether that's either connecting with chain link the etherium with these institutions having this interface obviously is crucial for these companies to be able to like you said manage transfer assets

Data whatever it is and that is cool what you said how you know some data can be transferred you know you can have some off chain information and you can put some information on chain and I never personally thought about that you

Know I always thought why not just put everything on the blockchain but I guess there would be many reasons why a lot of companies wouldn't want to do that for privacy reasons security yeah I mean they're all even just respecting the

Blockchain for what it's good at you know you know dealing with especially when we start to move to the public networks which I think all organizations should be should be gunning for they should be trying to do that and we're

Going to talk about another tool for them to do that shortly putting all your data in a contract is the worst thing you can do because it's very expensive you know string strings basically like text or you know

Bulk data uploading that to a smart contract and storing it in the contract is one of the most expensive operations you can do in a smart contract execution call over overall it's one of the most expensive things in gas and so you have

Businesses that don't optimize their proof of concept in terms of what goes on chain and what doesn't and then they think this is going to be too expensive to operate in Maine that well we're not using you know play ether you know fake

Ether and and that's very true part of the biggest job of a smart contract developers optimizing for cost versus cost versus functionality like what's the minimum viable product that we need to deliver and how can we do it

Efficiently because we want people to go on banette basically so that's that's a big part of it and and so moving businesses towards main net with that intention you know unibrow it was a huge proponent and player in developing what

Is now hopefully going to the arbiter of main net main net moves for enterprise and that's the baseline protocol so this is basically a part of a big conglomerate with a bunch of different businesses in me and if your iam

Enterprise Alliance I think imminent is is the name of the consortium it organized this whole thing that's moving enterprises to the public net basically in a nutshell the baseline protocol packages up different functionalities

Like easy to use chain link Oracle's that's one it allows you to use zero knowledge proof based functionality to transmit data securely into custody data securely it allows you to quickly and easily tokenize assets and transmit them

Over the public blockchain without exposing private data or addresses so these things are basically looking at Ryan I think you mentioned it in your other video or in the other video the three P's can you remind me what those

Three P's were in this protocol do you remember privacy one was not a real word permission of permission ability yeah so basically these are like the three P's that people focus on for enterprise apps and the reality is as businesses don't

Want to go on to the public main net because they don't want to miss the lose their privacy they don't feel like they can control permissions to their data on the network and what was the last one private transactions permissioning and

Performance there you go performance was the one we were looking for and performance is only partially the responsibility of this you know I guess the baseline protocol which is really just an interface if you will

It's like a series of smart contracts and then sort of like middleware that sits between the enterprise and the blockchain network the etherium net main net that makes all this stuff easy it's basically like a package deal but as we

Move to aetherium 2.0 performance is going to be hopefully a lot better just at a baseline pun intended baseline protocol so I think it's gonna start to hit all of these all these notes that people are looking for so I'm very

Excited by about this baseline protocol and it's it's still in early stages that the code base just got open sourced I think the end of last month maybe so I'm still digging through it there's a lot there but I think we're gonna see a lot

Of development on that front but the last place that I wanted to go in this tech overview is the ubt token and what that is used for why people would even want it and and just generally give you an idea of what it's all about this is

Not however a token economics you know analysis or should you buy this is just what it's used for so the uvt token is very much a true utility token and that it is the token that's going to fuel all of the products

That we just talked about within the unit right ecosystem right so if you're an enterprise and you want to set up your workflow designer and you want to design a workflow push it to the contract interface start deploying your

Contracts and setting up the integrations and then you want to set up all your connectors and do all that stuff each of those processes that you go through and each of those services that you use are going to price based in

Ubt so instead of you going on Amazon Web Services you put in a credit card you're going to be build using uvt tokens so for example if you're an enterprise you want to deploy one contract and you want to see

How much it's gonna cost you can go on I think there's an online calculator now to tell you okay how much would it be to run this contract template for 30 days and people can see what it would cost so there that's a great thing to do I'll

Leave a link to that calculator so you can play around and see what it would look like for yourself so I think the biggest thing people need to know about this ubt token is both sides of the argument a lot of people are out there

Saying well if enterprises have to buy a token to use the service are they ever gonna do it and I think if you measure by today's standards you might think no they probably won't but in reality I think the way you know brights going

About it is going we're gonna show you how this works and we're gonna show you how powerful it can be and then we're gonna show you how to get the token we might help you help you get it set them up and then show them how valuable it is

And then that's what's gonna pull enterprises into understanding this method of paying for services and the real benefit here is that it's structured a lot like how enterprises are used to paying for things it's pay

As you go pay as you use rather than the traditional like right now in the blockchain space for enterprise you're probably paying 500 day five hundred thousand dollars a million dollars for a production-ready quote-unquote

Production-ready blockchain solution you could pay anywhere from two point five to five million dollars to get it all integrated the way that you want it Wow so rather than doing that you might say let's use this where it abstract sit

Away we can start small and we can only pay for what we need we can only pay for what we use so that's when you move an asset using the smart contract templates and then it passes through the interface the contract interface and then the

Connectors to get to your s ap set up you'll pay for that but you're gonna pay for that one transaction and what it did you're not going to pay a developer a bunch of hours to build that one thing out

So I guess it allows you to decide let's pay as we go yeah for sure I love that you know that's like renting movies as you go yeah yeah for sure you know in some look some businesses are going to prefer that they pay upfront

For a solution and don't pay per transaction but I think that that's the most that's a super viable in an environment where you're doing a pseudo private or private network because you're not paying network token fee

Anyway and you'll have to worry about optimizing for cost on chain but I think for someone who's trying to move to Maine and doesn't have a lot of experience doing so and optimizing contracts UNEP writes a no-brainer

Because you're not gonna have to stress about it it's gonna be rolled into one efficient audited contractor it may be several but you're only gonna pay for it in in ubt so you're kind of you're taken away from all the complexities of

Setting this up and I think that's the biggest thing to take away the ubt token is the fuel that drives all these tools that enterprises are going to use to operate with with these things so the bigger that enterprise adoption gets

Which is hopefully you know continuing to grow theoretically the the more that interest in you BT would grow as well for sure and one other thing I really like about you BT and I talked about it more in my video is their overall

Approach to getting this out there you know they're not just sitting on the sidelines waiting for someone to come to them or they're reaching out to a couple of their crypto currencies they are you know on the front lines having seminars

Sitting down with big corporations saying hey this is what we can offer we can show you exactly how this can be integrated in a seamless way it can save you a shit ton of money in the long term you might as well use it because this is

The future and the other thing I like is this is the perfect way for a lot of companies just go out there and like you were saying just try it you know just get a taste for blockchain does it work with your company is it worth it

And of course you pay as you go so you know if you don't want to use it that often hmm that's fine no problem yeah it's definitely overall just a genius concept and it's going to first a very long way definitely and the last

Thing I wanted to say about the ubt tokens setup is you know for you if you're not an enterprise you're sitting there okay I don't have an enterprise business I don't work for a big enterprise and I don't do IT so why

Would I care I think if you're someone who's interested in uvt what's interesting is that you can still have access to you BT as maybe a speculative investment maybe small you know people that like you that wanted to set up an

App on your own and just see how it works you can still use these tools and they're in beta now you can check them out live but these big enterprises the benefit that they're giving you is whenever they sign on to use you BT

Based services they are gonna lock up in sort of a I guess like a an SLA like a service level agreement a certain number of you BT tokens that will cover 30 days of usage that they've estimated using that calculator tool what that means is

All those things that all those ubt tokens they've locked up are now out of supply right they're out of the circuit either out of circulation right so theoretically the more businesses that use you BT and their tools and are you

Know locking it up and and continuing to do 30-day contracts with this you BT locked up the more valuable it could become for you because obviously more interest more demand tends to drive value if supply is fixed right or supply

Is dropping so that's very interesting so the more than my beauty grows the better you are question for you sure um is there a baseline price for companies using you BT for example you know say they say it's 10 you BT to integrate

This and what if you bt goes up to five hundred dollars a token yeah great point so I think I think that though and and I might not have all the details on this because I'm still reading up on the the contract structure for the you BT

Transactions but I believe that you can you lock in on a contract for thirty days of usage and I think today I mean we're still in the sense for you know for you BT you lock into that price and then at the end of your term if you

Continue you can rebuy the tokens that you've already locked up in that contract fixed-price right so I think you'll be able to keep your costs stick like standard and Static but then if your

Contract expires I think with you know as an enterprise then they have to can't like purchase at market value does that make sense mm-hmm so I I believe the last time I saw them talked about the price on a

Medium post they I believe it was originally ten cents or something like that and they – 42 cents not too long ago but I don't quote me on that yeah I mean look a lot of this stuff is is still is still developing and we're

Still learning more about how these things work behind the scenes because quite frankly this is all really recent you know especially baseline protocol and all their you know framework items the for framework items we talked about

They're still rapidly changing in developing so I think this is something to follow and continue to follow over time because it's a project that I think has a ton of potential of course of course

Absolutely so Ryan where can people find you where can people find the awesome partnership video that we just recorded as well if you guys want to check out the partnership video where I dive into obviously all the juicy partnerships and

Really give you a good understanding as to how YouTube right is already massive and definitely undervalued as a start-up go ahead to my youtube channel Krypto Fein Fi E and D o or it will also be linked down below and as always make

Sure you subscribe to her show she if you're not already on man thanks doing my job for me man thank you awesome and guys please do have a good rest of your day night evening wherever you are in the world Cheers have a great one

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