Thanks all for participating in our UniWorld.io AMA. We really appreciate all your support. There were really good and thoughtful questions that were asked. For those who missed our AMA, this blog post is for you
Mayank – @joey_jaz welcome to CryptoNationIN 🎊. We are glad to have you here 🥳
Joey – Thank you Mayank, the pleasure is mine.
Mayank – Before we start, I request you to tell about yourself and about UniWorld.io to the community.
Joey – UniWorld started quite a while ago during the early Ethereum days. We wanted to solve the scalability, interoperability and regulatory issues with e.g. the ERC20 protocol and Blockchains in general. Because we didn’t want to raise any money before we had an actual product, we skipped the 2017 ICO wave and focused on R&D using the revenue we make from our bot solutions. Now we are at the mainnet stage and our products, though rough, are ready for the users.I come from a regulatory, marketing and tech space. I work on AI and technical talents with bitgrit.net, on compliancy factors with the Security Token Alliance and a whole bunch of other things really. Here is my LinkedIn for an overview: linkedin.com/in/joey-bertschler/.
Mayank – Could you please tell more about your products (UniChain.World, UniBot and UniMe) and what they mainly featured for?
Joey – UniChain.World is a highly scalable Blockchain wth interoperability features. Other projects can be added or “mounted” on top of it and our smart contracts can be sophisticated and complex enough to follow regulators requests.
You can find all of our technical details neatly organized here:
And in Detail here:
Joey – We have 2 other core products namely UniMe and UniBot. UniMe is a highly sophisticated messenger with additional functions. (You can create your own chat bots, integrate your crypto wallets and the live deletion of your background data enables privacy unseen in virtually any other apps). UniBot is our Chat bot solution. Similar to GPT-3 we use huge amounts of data to train the modules they run on, but the data we select, though its a lot, is edited and filtered beforehand to create custom solutions for our enterprise partners.
There are also simpler bots for users to use for fun or as individual. They can be upgraded, changed, embedded and so forth depending on what the user wants.
Mayank – UniMe’s whitepaper https://docs.google.com/document/d/1vfDhIQj-pzU02lHPc3DOIkRFvQ87T2dge0DNzkdzyuM/edit?usp=sharing.
Q1. There are so many projects that only exist for a moment (dead on the road,so many investors are traumatized by new projects). the question of how UNW project can survive, continue to grow & in what way you convince investors that this project is very promising?
Joey – This is still a big issue. In 2017 over 80% of projects were scams. Some couldn’t, and some never intended to deliver.
Now it’s 2020 and the public has grown highly sceptical of fundraisers especially ICOs (as they should be)
Uni works with or without funding. If we get the support we are looking for quickly, we will scale accordingly. If not, things will simply develop more slowly. Our channels have never been quiet for several years either. Anyone can contact or ask us anything at any time and each of our core members is quite accesible. I think this makes for quite the big difference.
We are not living out of suitcases with PO addresses for example 😉
We convince investors in quite the simple way: Here are our bots (we show them an example) here are our numbers (we openly show those, very transparent approach) and then they invest if they want to invest in the tech space.
We had quite a few offers over the years, but we didn’t want to give up any equity and also finish our products first. At least to a degree where, even if it’s a bit rough, everything runs.
Our initiative right now is really more of a stress test phase.
This project won’t make a huge and sudden impact like the iphone did back in the day. Our approach is more that of a 7-eleven. We want to increase utility, offer more products and services and refine those and suddenly Uni is everywhere before you realize it.
We derive our value from our products and not an expectation of a high-value exit. It’s the same philosophy Roger Ver applies in his quest to improve BCH (as opposed to BTC maximalism).I was hoping the users that ask these questions could join the chat for a conversation. If anyone has any questions at any time, please don’t hesitate to send us a message. Be it on the Bitcoin forum, via one of our emails, on LinkedIn or elsewhere. We will always get back to you.
Q2. It’s easy to make a token but it’s really hard to make this token valuable? So what’s your startegy to make UNW more valuable and what’s your plan to maintain token price and supply?
Joey – I somewhat answered this question above unintentionally. You can put any price tag on a token and it’s essentially meaningless. Either all of the tokens are immediately sold or there is no liquidity and the tokens stay in place in the case of broken projects – this is probably what this question refers to.
UNW can be used
as a secure, low-fee transaction method (dust-level)
to run bots
to build on UniChain
but also further down the line to e.g. buy physical products, play in online casinos, tip people, to hedge with other cryptos and much more. The main reasons for this are:
- The interoperability of our chain and bots means they can both be easily utilized by other projects and we can easily work with other projects ourselves.
- Also for the reasons stated in 1. we chose Solidity as coding language. Ethereum has a vast community of dAPP devs and devs in general that will find it attractive to use their skills on more platforms. In more general terms there are use cases across supply chains, health care, real estate and so forth – all of which Uni is working on.
Here are the Whitepaper links and our overview post. I will post it again neatly to make them easy to find
One important note I want to make is the teams origin. Aside from me, there are virtually no native English speakers, so there will inevitably be quite a few spelling errors and a certain degree of a language barrier.
Q3. What kind of blockchain is UNICHAIN? And, how will UNICHAIN solve major blockchain problems such as lack of scalability and security, lack of standardization: limited interoperability and Integration with legacy systems?
Joey – UniChain is what you can call a multi-chain. It can get quite technical quite quickly from here on out, so if anyone wants to look under the hook, please contact us anywhere and we will happily go through the codes, bits and bytes with you 😉
In simpler terms: The Chain combines DPoS and HotStuff to reach a low trade-off high scalable performance with the virtually lowest transaction fees possible.
Here is a little overview on the chains stats:
Cryptography algorithms: SHA256, SHA512, Keccak256, Keccak512, Elliptic Curve Digital Signature (EDCA).
Private keys on UniChain: 256 bit long (64 hex characters) and start with the letter U
Consensus algorithms: DPoS-Hotstuff
Active witness nodes: 33, alternative witness nodes: 22 (55 in total)
Total UNW supply (fixed): 1.000.000.000 (In words: one billion)
Block time: 1 – 3 seconds
Smart contract language: Solidity (compatible with Ethereum)
Inflation rate < 1% per year (may be zero or go negative, depending on transactions in the network).
Here are some good links explaining the individual parts. We put our graphics, code, algorithms and so forth into our White papers for anyone interested in the details.
What is DPoS – Binance Academy (3min)
HotStuff – Cornell University (Paper)
Blockchain Investor Guide – Investopedia
Account Website: : https://accounts.uniworld.io
Project overview: https://accounts.uniworld.io/public/docs/uniworld-overview-2020.pdf
Technical whitepaper: https://accounts.uniworld.io/public/docs/UniChain_WhitePaper.pdf
Telegram group: https://t.me/MiaworldMultiple
Telegram channel: https://t.me/UniworldOfficial
Q4. Why should any Developer build on Uniworld Network rather than any network? And Can you tell us the difference between Current Ethereum based DApps & Unichain based DApps?
Joey – One of the major issues e.g. CryptoKitties had was scalability. This is quite a beaten horse as a topic by now, but it remains a core issue. Many chains solve scalability only at the expense of sacrificing a certain degree of decentralization or security. Uni can realistically perform to the degree necessary for sophisticated dApps + developers that have been working on Ethereum and ran into a barrier can work with UniChain. They can continue on in Solidity too. Same with other Blockchaind evelopers. This is why Unichain focuses so much on interoperability and high scalability. A million transactions per seconds is no easy feat.
Q5. Uniworld’s two main flagships are Unibot and its own Blockchain called Unichain could you describe what Unibot is, what kind of protocol and what TPS does Unichain achieve and how are these solutions intereconeced with UniMe?
Joey – UniBot is an advanced chat bot with smart contract features. The bots themselves can easily be modified to serve whatever function they are needed for. Unichain is not build on top of any other Blockchain, so there is no ERC20 or ERC1440 protocoll involved per se. Of course any other project, including projects build with Ethereum can in turn be build on top of Unichain or alongside as a side chain to solve scalability issues. In the later case, Unichain helps out with higher amounts of transactions. For how exactly that works, please refer to our White papers, look up side-chains and multi-chains or hit us up with an email.
UniMe is essentially the mobile app. By itself it’s a highly secure messenging app with a wallet, but it is also used as an extension of UniChain and UniBot. Think of UniChain as a nexus.
Q6. I’m aware that the presale of UniCash (UNW) which is the native currency of the UniWorld.io ecosystem is around the corner. Can you explain more about it? What will the total supply, hardcap, average price and method of payment be?
Joey – The total supply is 1,000,000,000. This is also the overall cap since we will not mint any new coins either.
The initial average price is 0.34 USD. We aim to list on exchanges from September onwards. This is also why the initial way to get UNW is trading it with BNB. Users acquire UNW by trading it with BNB in the beginning. More payment methods and trading pairs are arranged for the later rounds.
Here is an overview on our blog:
Q7. What is your long-term vision about the industry which Unichain project is working at ? Cryptocurrency industry is always thriving, what plans do you have to keep up with technology trends?
What are the main utility and real-life usage of the Unichain As an investor, why should we invest in the Unichain project as a long-term investment?
Joey – Uni is in a nutshell a very scalable Blockchains. 1M TPS means it can actually meet the demands of sophisticated dApps and many BC use cases prior only possible in theory. Uni often mentions “For Block of society” which is in a way code and stands for our Society 5.0 initiative. Here is a Link on what that is:
Smart devices are fed with live data, this data is prior fed to the Blockchain where its strenghts as immutable ledger that doesn’t require trust are put to good use.
As investor, you may want to buy in early as an early adopter, use UNW for one of your businesses (UniBots) or even just keep an eye on the project if you are unsure at the moment – it won’t take long for more and more applications to pop up now that we are going live and you can judge based on how well everything performes.
Q8. What business scenarios can UniWorld support now ? In what Industry can we see a mass adoption of UniWorld technology in the near future?
Joey – Anything you can do with virtually any other Blockchain in theory can be done with Uni in practice. Insurance, health care, logistics etc.
Q9. On top of your recent UNW airdrop program and the referral program on the neat website you got, what else will be the teams’ marketing strategy to attract new users to the platform, specifically no-coiners.
Joey – Good question! Attracting ‘no coiners’ is currently not our primary objective, but as was seen with e.g. CryptoKitties, it takes but one app to make waves and Uni offers the scalability for them to actually run. Most applications mainstream success will highly depend on how easy they are to use. Users might not even notice they are running a dApp or that they are paying with crypto if it’s simple enough. Think in-game currency, point cards and buying gift cards from stores all of which are not based on FIAT either (tho those are minor every day examples not comparable with the enterprise solutions we aim for).
Q10. Explain the Unichain blockchain in detail, how does it solve the scalability, security and interoperability issues? Why do you need your own blockchain instead of building on an existing chain?
Joey – In a nutshell: limited transactions per second. Ethereum was simply not fast enough for anything Uni wanted to make possible, so the R&D team of Uni built one from scratch.
A good example is the still in use ERC20 protocol. It’s simply not complex enough to support compliant transactions so it’s unsuitable for complying with the SEC’s regulations yet many projects issue tokens based on this protocoll in hopes a simple KYC process will sufficient.
The canadian project Kik for example, despite owning several licenses and running different tech, was fined for $100 million by the SEC.
ERC1440 works in terms of complexity (though with some minor compromises), but runs into quite a handful of other issues even though the smart contract would be able to be compliant with every law it needs to be, it wouldn’t work in practice for performance reasons.
Uni solves these issues with it’s DPoS + HotStuff approach.
Q11. In the past ten years, many big brands have been attacked by hackers, such as Yahoo, Facebook, Google, Apple,..and have caused huge losses to the company and users. RECENTLY Twitter was hacked
So how does Uniworld solve this problem and protect users and content producers? What do you think is the greatest value Uniworld brings to users now?
Joey – For Blockchains like ours, human error is the biggest issue. No matter how secure the chain is or how ell everything is designed and backed, if someones computer or private key is compromised there is hardly anything we or for that matter any project can do.
If for example you save your private key in a word document or you enter it into a pishing site or anything of that sort, then the error simply happens outside of Uni. Facebook &co. are not really a good example here. They are tech giants and their scandals and projects aren’t Blockchain. Excluding Libra& similar of course but those have yet to be released and hacked. The greates value UniWorld brings is a fast Blockchain. As simple as that. When you go from dozens or even hundreds to millions of transactions per second, a plethora of possibilities open.
Q12. I am a person who likes to generate money through my mobile phone and in the comfort of my home. How many with a mobile tool to generate income? Do you have any financial application for users like me?
Joey – Staking could be an option. You could technically build and sell chat bots made on the UniBot platform with your mobile phone, but this would be vastly more tedious than simply using a computer.Similar to how you could write articles on Medium on your phone, but typing this way would take a long time.
Q13. With which other blockchain projects can Uniworld imagine a cooperation for the future?
Joey – Virtually any. From the big ones like Bitcoin all the way to newcomer. That’s what interoperability is for.
Q14. The blockchain industry is growing by the day, what makes Uniworld stand out against other projects and companies competing in the space?
Joey – First off, the industry is fragmented and uncertain, causing projects to under-raise, projects to be non-compliant, and regulatory confusion.
There are no agreed upon frameworks, few true security tokens, and virtually no liquidity. The industry doesn’t have a playbook. This is changing faster and faster now. Regulators are catching up.
Unifying A Fragmented Industry
Uni brings together diverse organizations working in the Blockchain industry, creating an ecosystem to bring tokenized securities to mass adoption faster and with higher quality than could be done by entities acting in relative isolation.
We welcome the participation of those projects that are sincere in their aim and goal to democratize finance. Projects are selected on various criteria, including team, progress, brand image, community size (if applicable), funding, and so on.
Uni is based in Tokyo, but has an even distribution of members around the world, with over a dozen members each in the US, Europe, and Asia, as well as members in Canada, Africa, and Oceania.
Realizing A $10T Industry
Blockchain, even with the hype gone, is still a potentially a $10 trillion industry. We are still in the nascence of this movement, due to a lack of clarity among stakeholders, including lawyers, compliance officers, advisors, and even developers. We need collaboration and integration to move forward.
Q15. In the crypto field, it’s very hard for projects to generate revenue/profits, some projects have a 10% dev share(10% from transaction fees taken by the project), can you explain to us in what way that Uniworld creates revenue/profits?
Joey – We charge fees on transactions. These fees are so low that they reach dust level, but there is quantity. We also charge for our bots (API calls and/or creation of data sets depending on the customer).
Q16. In the process of building Intelligent Society 5.0, people highly hope that artificial intelligence can replace traditional managers. What is your opinion on artificial intelligence? Do you think it can coexist with or replace tradition?
Joey – GPT-3 is an AI that can code itself. Frankly speaking, it’s scary. We don’t really know what happens in the hidden layers of deep neural networks and AI trained on huge amounts of data such as GPT-3 is also inevitably biased as it’s fed with biased data. It’s more dangerous than nuclear weapons and has the potential to go very wrong. Where we go from here is really unpredictable.
Q17. Trust is very important in business. So, what makes investors, customers and users feel safe when working with UniWorld?
Joey – Transparency. You can ask anything and we will answer. Simple as that. We are also incorporated.
Q18. In the bad situation of the Covid-19 epidemic, every industry was heavily affected.
Does it affect on the growth of Uniworld Team and its ?? What are your plans to turn challenges into opportunities for #Uniworld DEVELOPMENT?
Joey – No. We have prior never asked for any funding and all of Uni’s revenue streams works remotely as well as it does in person. Meetings now happen via Zoom instead of business events or in cafes but that’s about it.
Q19. Marketing is the leading factor that helps the project thrive. So what is your strategy to attract customers and developers to Uniworld in the long term?
Joey – We improve the product and its utility rather than simply talking about it. That’s why Uni wasn’t releasing any PR for quite a while, we were simply developing the products.
Q20. The unicash pre-sale starts at July 28. What are your expectations regarding that pre-sale?
Joey – Virtually none. It could be millions of UNW sold or not a single one. It doesn’t really affect the project per se. If we are able to raise a decent amount of funds, we can roll out and develop our products faster. If we raise none, we carry on either way. We would rather have a slow but steady growth.
Q21. What is the uniqueness of Uniworld that cannot be found in other project. that’s been released so far? And how the demand of $Uniworld token will increase in the future? or what steps would you take to increase the demand?
Joey – Functionality for literally millions of transactions per second.
Q22. As I go through into your website, I see that UniWorld is already being feature in some known news magazines like Bloomberg and Forbes, also in yahoo and many more. So what is the impact and effects of this achievement to your platform?
Joey – Not really much. It’s almost a standard in the industry to release PR on several sites like this, have a Social account on every platform and so forth. We got quite some traffic and emails of course if that’s what you mean.
Q23. Because of tough market conditions many projects are far from the targets. What’s UniWorld strategy to survive in this long blockchain marathon?
Joey – We don’t spend money we don’t have. We scale up or down accordingly.
Thank you to Joey Bertschler and Community for participating in the AMA. Have a nice day