On day to day basis you will come across a bunch of Tokens/ICO which starts with an idea/ plan that they wish to achieve in distant future. Once the capital is raised based on the so called future idea, majority to them just fizzles away without delivering the promised final product. This is where Universal Labs makes its difference.
Unlike other project which starts with a idea and go in later building the product, Universal Labs entered the market with ready built product named as Ubbey Box. Together with Ubbey Box and Ownership Protocol (OWP) , Universal labs is aiming to disrupt the personal cloud storage market
Currently we have lot of Projects working in almost all type of industry. Everyone is trying to incorporate the goodness of Blockchain thereby trying to build a better world. Only rare projects are concentrating in the personal cloud storage space.Universal labs are one among them.
Lets first understand why we need to bring blockchain into personal cloud storage space
As we know, storage infrastructure is very centralized. Rather than businesses hosting their own servers, many have outsourced to the storage infrastructure of large companies, like Amazon Web Services or Microsoft Azure. Even though this helped to reduce the cost and storage space but it has blinded us from the downsides. When using a cloud service, we put a large amount of trust in third parties. We trust these third parties to secure our most sensitive, most private data. This data is typically un-encrypted, which means there is a high chance someone else can access to your most private data.
To overcome these pitfalls, private or personal clouds can be worked out as an alternative but not only there are difficult for a layman to setup it is also very costly as well . This is where ULabs has come to rescue with Ubbey Box and Ownership Protocol (OWP).
The Ubbey Network
Ubbey Network is a decentralized network powered by Ubbey Box and the Ownership Protocol (OWP). The main purpose of Ubbey Network is to enables ownership exchange of digital & physical assets in peer-to-peer way. Once an asset has been registered, it could be transferred directly from one IP to the other on Ubbey Network almost instantly, just like transferring your crypto assets .
The Ownership Protocol (OWP)
OWP is a decentralized public ownership registry that not only records the ownership of digital asset such as token but also tangible physical asset such as house and land. OWP solves the replicability and double-spending problems of digital asset ownership, bringing the authentic and un-tampered ownership record to life.
Ubbey Box
Ubbey Box is a hardware device designed by Universal Labs which can be used as personal cloud storage for both individuals as well as corporate . In the current version it comes as either 1 TB or 2 TB storage option. Ubbey Box can be connected with different devices from a mobile phone to even a smart TV. Not only to be used as a storage device its can also be used as miner to mine YOU token through sharing their personal storage space, and be rewarded with YOU token as an incentive to power and secure the network.
YOU token
The YOU token is a ERC 20 based token . It act as an incentive within the Ubbey ecosystem which encourage users to contribute their storage to the network so that other users could better utilized the idle storage.
Token Metrics
- Token type: ERC20
- ICO Token Price: 1 YOU = 0.0095 USD (0.00002000 ETH)
- Fundraising Goal: 19,100,000 USD (40,000 ETH) - Target achieved
- Total Tokens: 10,000,000,000
Currently Cloud storage is a Huge $260 billion+ industry which shows how much future this project can be. Providers like Dropbox, Amazon, Google are taking premium from their customers in exchange for services. A decentralized solution like the Ubbey Box which cost around $199 will cut operating costs dramatically for users.
If you feels this project has promise you can pre-order the Ubbey box here
To keep your self updated about the Project you can be a part of the below given channels.
Official Website: https://ulabs.tech
Twitter: https://twitter.com/ulabstechnology
Medium: https://medium.com/universal-labs
Telegram: https://t.me/universallabs
Disclaimer: Part of the Article Group