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Ubu Cryptocurrency

Project Ubu: Why Invest In The Ubxtoken? November 1st, 2017

Project Ubu: Why Invest In The Ubxtoken? November 1st, 2017

Project UBU: Why invest in the UBXtoken? Project UBU is a cryptocurrency system that aims to deliver a Universal Basic Income product to the marketplace. The basic premise is to use a block chain protocol to deliver a fixed amount of tokens called Universal Basic Units or UBUs into a participating citizen wallet. The tokens may be spent at participating vendors or exchanged between citizens, and the UBU mobile phone application acts as both a marketing system and a financial service. A separate application is in development for vendors, and this also works as a point of sale payment system. As a means of funding the growth of the project and the enrolment of citizens and vendors, an ITO has been offered for the an UBU derivative product called the UBX token. The UBX pays the holder an amount of UBUs per month that scales up with the number of participating citizens. The article below explains why the UBU and UBX will hold value for investors. The first question that most investors ask after reading about Project UBU, UBUs and UBX tokens is how (and why) will the system hold value if UBUs are being issued en masse? The second is, why buy an UBX token if one can just go out and collect UBUs? The UBU yellow papers provide a detailed mathematical answer to these questions which is good if you understand that sort of thing, but completely opaque if you do not. What is the short answer? At its heart Project UBU is a marketplace that connects vendors to potential customers or citizens. The theory goes that vendors and citizens will engage with each other using the UBU as a means of exchange and, as vendors price goods and services in UBUs, the UBU token will obtain a value. UBUs are issued to citizens at a fixed rate of 100 per day, and participating vendors give a place wher Continue reading >>

Project Ubu Review - Ubusphere & Ubucore Universal Basic Income Ico?

Project Ubu Review - Ubusphere & Ubucore Universal Basic Income Ico?

Most recently launched cryptocurrency projects are focused on developed markets, yet some in the blockchain space have begun to discover the potential for unlocking economic growth to those markets that are currently restricted by geographical boundaries. To this end, a group of South African businessmen recently unveiled Project UBU (Universal Basic Unit), a cryptocurrency payment project based in South Africa which aims to target the developing world. With a heavy-hitter team lead by Bridge Capitals Dudley Baylis, Project UBU is bringing its experience to bear on the development of blockchain technology . The team also includes former Vox Telecom CEO Douglas Reed, Tuluntulu CCO Justin McCarthy, and former Anglo American and Altech CTO Steven Sidley. Essentially, Project UBU is being developed with the aim of providing participants with 100 cryptocurrency units (UBUs) per day. Over time, the team is hoping to have the value of their tokens appreciate enough that their value is equivalent of a few US dollars. While some observers may regard this idea as small potatoes, for those living in poverty stricken countries this currency holds the potential to exceed the current poverty index and substantially raise their standard of living. The team plans for the currency to be distributed to all of the worlds individuals at no cost, giving these individuals the means to exchange the currency for goods and services. The hope is that this will in turn create the worlds first decentralized currency that primarily benefits people who are currently resting at the bottom of the economic pyramid. By engaging with vendors in developing countries, UBU intends to help them increase sales, improve market share, and/or reduce costs. This has the effect of expanding the potential network Continue reading >>

Pre-enrolment For New Cryptocurrency Project Ubu

Pre-enrolment For New Cryptocurrency Project Ubu

Home Crypto Currencies Pre-Enrolment for New Cryptocurrency Project UBU Pre-Enrolment for New Cryptocurrency Project UBU There is a new cryptocurrency on the block called Project UBU which will empower ordinary people. You will start to accumulate UBUs from the very moment you join Project UBU. Lets take a closer look at what Project UBU is all about and how we can all benefit from this new Cryptocurrency . We believe that every human being regardless of his circumstances has worth, we believe they contribute to the value of every community network they belong to and we believe they should be rewarded for the value they help create. The way we do this is we use block chain technology to create and issue a Token of Exchange (Crypto Currency) to every living being, we provide them with the wallets and the marketing platform to facilitate the buyers and sellers. Project UBU is a marketing platform to help build up a network of people with wallets full of UBUs and to provide a more efficient way for vendors to reach new markets, retain existing markets, to attract new customers and to realise value for moribund stocks by providing value something of value for the UBU. The UBX is a Crypto Asset that is linked to the value of network of UBU Citizens. The UBX is to fund the business , designed to be a store of wealth which allows the UBU Sphere (Community) a share in the wealth that they help create UBU Citizens are a network of people that are rewarded with a daily issuance of 100 UBUs which will increase in value exponentially in relation to the number of users. The goal is to get the UBUs value above 5US cents as quickly as possible. Project UBU provides the UBU Vendors with a new, unique and efficient marketing channel that reverses the psychology of traditional loyalty s Continue reading >>

Blog - Project Ubu

Blog - Project Ubu

Bubble, trouble, hodl and forks: Money, the weapon of choice Like politics, religion and economics, money is a social construct. Money is no more than a collective system of trust. If you sell a bicycle for R500 you trust that the R500 cash the buyer gives you will be fungible for food or electricity or another bicycle. If the buyer offers you an IOU, youd be a lot more reluctant to conclude the transaction, especially if they were unknown to you. Youd be equally reluctant to accept R500 worth of gold, not least because of the requirement to weigh, value and validate the quality and authenticity of the gold. For the same reason, unless you are familiar with the crypto world, youd be reluctant to accept Bitcoin, in part because you wouldnt know how to transact in it or what to do with it. Read more Bubble, trouble, hodl and forks: Cash is no longer king Chapter one dealt with an introduction to blockchain and cryptoassets. In this edition, I explore more on the purpose of Bitcoins existence, what it may or may not mean for the world of finance, economics, governments and social structures. Read more Bubble, trouble, hodl and forks: Blockchains andBitcoin I discovered Bitcoin in 2013, and like most regular folk couldnt readily get my head around the concept of a decentralised digital currency and cryptocurrency mining. I am not a techie, a coder or a quant, and while Ive been involved with a variety of consumer technologies for over a decade, this was a whole new level of head scratching for me. In this series I will attempt to decode in everyman language myth from fact, bubbles from bloats, coins from tokens, bullshit from banter. Read more UBU - A currency based on the portfolio effect of celebrating human potential Millard Arnold and Dudley Baylis [3 November 2017] Th Continue reading >>

South African Crypto Startup Project Ubu Update

South African Crypto Startup Project Ubu Update

South African crypto startup project UBU update In 2017, a group of South African businessmen joined forces to launch Project UBU a cryptocurrency payment project which aims to get many users involved. Project Ubu aims to provide participants with 100 cryptocurrency units (UBUs) per day and, over time, get that value to an equivalent of a few US dollars exceeding the poverty index. The currency will be distributed to individuals at no cost, and these individuals will be able to exchange the currency for goods and services. This will create the worlds first decentralised currency that primarily benefits people at the bottom of the economic pyramid. Since its announcement, Project UBU has been quiet about the initiative, and MyBroadband caught up with chief executive Justin McCarthy about their progress. McCarthy told MyBroadband they have been deliberately quiet as they absorb learnings from their beta testing period and incorporate this into their business model. He said they are making revisions to the ability for vendors to convert accumulated UBUs to UBX tokens. They are also making upgrades to the vendor portal and are improving their mobile wallet app. McCarthy added that after multiple versions of the app were on iOS TestFlight, Apple at the last moment elected not to support it. We are still in the dark as to their reasons and after four failed appeals are developing a mobisite that mimics the app on iOS devices, he said. He said Project UBU is still in beta test mode with a selection of closed communities and is scheduled for commercial release in Q2 2018. Continue reading >>

Banks And Cryptocurrencies Global Evaluation: Africa

Banks And Cryptocurrencies Global Evaluation: Africa

Banks and Cryptocurrencies Global Evaluation: Africa Bitcoin and blockchain tech are ripe for mainstream adoption in Africa, where the population is well positioned to embrace the innovative technologies. The underlying sentiment toward cryptocurrencies in Africa is that they can provide humanitarian relief and transform the lives of underserved populations Bitcoin and blockchain tech are ripe for mainstream adoption in Africa, where the population is well positioned to embrace the innovative technologies as alternatives to the expensive and/or outdated banking systems scattered across the continent. Lack of economic infrastructure paired with inadequate financial education has left a large portion of Africans without bank accounts or basic monetary means. However, in many countries the proliferation of smartphones has allowed access to alternative financial services which have become a dominant means of payment, especially among the high proportion of millennials. Bitcoins appeal is in large part due to its accessibility and inclusivity, but the trust-free component of using cryptocurrencies also resolves the long standing issue of Africans distrust of banks on online payment platforms. The pan-African crypto community officially launched the continents first multinational cryptocurrency , Nuru Coin, in February. Many hope it will help facilitate trade among African countries and provide financial services to people who otherwise would never have access to a traditional bank account. But mainstream adoption of its use requires more awareness of the potential benefits of the technology. Anticipation of a tech-revolution in Africa has been escalating since late 2017 . Governments have shown little uniformity in their approach and attitude toward the booming crypto marke Continue reading >>

Project Ubu: The Ambitious South African Cryptocurrency

Project Ubu: The Ambitious South African Cryptocurrency

Project Ubu: The Ambitious South African Cryptocurrency This is whatUbu, a South African blockchain project, seeks to do. The project has the ambitious goal of creating a cryptocurrency that unlocks dormant, inefficiently allocated and unrealized resources to create commercial and social value. In terms of use cases and what the network would actually do, a good way to put it would be that a currency with a social goal can be a good platform for businesses to donate to those in need while also benefitting from network effects. In practice, the Ubu team have several use cases outlined:You are probably getting the picture of what the Ubu project seeks to achieve. If many businesses and users are on the platform, the natural potential of blockchain technology will lead to at least some benefit that does not currently exist in the existing economy. As a spokesperson for the Ubu project said: It is a chicken and egg situation in the early stages the value proposition for UBU citizens is not much if they cant spend their UBUs. Also, it would not be a major revenue source for the platform:While this is not a goal of the Ubu Project, but as a byproduct, it does offer another significant long-term investor benefit, as the company said. The founder,Dudley Edward Baylis, has worked on third-sector and community-focussed projects for the past 20 years and also has experience on large projects (such as in the renewable energy sector) for Bridge Capital, a major South African M&A and financial advisory firm. Coin spectator is an automated news aggregation service. All copyrights belong to their respective owners. Images and text owned by copyright holders are used in reference to and promotion of those respective parties. Continue reading >>

Project Ubu Review - Cryptolive

Project Ubu Review - Cryptolive

Project UBU was created to address a fundamental disparity in our economic system in which a significant segment of society is excluded from the economy resulting in poverty, poor education, poor life expectancy and political and social exclusion. This has led to a devaluing of a class of human beings who are excluded from access to resources, and the attendant social damage which is inflicted on them lack of opportunities, lack of hope and a constant assault on their dignity. Much has been written on this phenomenon, and evidence of this disparity in some countries is dispiriting. More has to be done, society cannot rely on government alone. Here in South Africa, the home of this project, the country is a microcosm of this insidious global exclusion. Even in wealthier countries, new technologies like automation and AI portend the disappearance of many formerly safe employment sectors. South Africa is yet to experience the full effect of blockchain and cryptocurrency. Project UBU uses the Univesal Basic Income Model (UBI) . Wikipedia defines Unversal Basic Income as a type of program in which citizens (or permanent residents) of a country may receive a regular sum of money from a source such as the government. The above image was take from the official Project UBU Whitepaper. Vendors receive UBUs from citizens either remotely or at point-of-sale. UBUs may be used by vendors to provide incentive for advertised discounts, excess inventory, minimally spoiled or moribund stock, donor or charity aid, dead loyalty points, close-to-expiry goods, donated value like medical clinic services, etc Project aims to be the worlds first fully fledged decentralised cryptocurrency that delivers free and guaranteed income to all citizens without relying on taxation. The above image was t Continue reading >>

Project Ubu Uses Blockchain To Deliver Universal Basic Income

Project Ubu Uses Blockchain To Deliver Universal Basic Income

Project UBU Uses Blockchain to Deliver Universal Basic Income By utilizing blockchain technology to monetize previously moribund assets, a South African based project known as Project UBU is attempting to provide a universal basic income to the worlds 800 million impoverished citizens. Project UBU presents a new method of wealth creation that offers an answer to the plight of the worlds impoverished by providing a universal basic income by monetizing assets using an Ethereum blockchain token. The project, founded in 2016 with plans to go public in April of 2018, creates an exchange token for what it calls the Universal Basic Unit initiative. Project UBU is designed to unlock moribund assets buried throughout the economic system by assigning these assets value in a crypto token that it distributes, at no cost, to every individual wishing to receive them. Recipients will be able to exchange the tokens for goods and services with other participants in the ecosystem. The project founders believe the token will increase in value as it gains traction across market segments and geographic areas. The project aims to create an independent, self-sustaining ecosystem free from government control. The UBU token, the systems primary token of exchange, acquires value based on its ability to allocate resources. Its value is based on the dividend that accrues to the UBU ecosystem, a triangular economic structure that uses the UBU token to facilitate trade among citizens, vendors and the UBU treasury. Vendors will receive UBUs from citizens either remotely or at the point-of-sale. Vendors will then use UBUs to provide incentives for advertised discounts, excess inventory, minimally spoiled or moribund stock, donor aid, dead loyalty points, close-to-expiry goods, or for donated value fo Continue reading >>

Meet Africa's Blockchain Startups: Project Ubu - Bitcoinafrica.io

Meet Africa's Blockchain Startups: Project Ubu - Bitcoinafrica.io

Meet Africas Blockchain Startups: Project UBU A team of entrepreneurs isplanning to launch a blockchain-based digital currency called UBU (Universal Basic Unit) that aims to economically empower lower income South Africans. The team says that they intend to release the beta version to the public by September this year. The founders note that the world has close three billion people who currently have minimal significance to the economy. Basically, Project UBU is an initiative that aims at assigning economic value to every human being. This gives everyone a chance to play a role and earn in the ecosystem. UBU is built on the blockchain and aims to push users from the poverty line and assist them to earn $2.50 to $3.00 a day. UBU has unveiled that its founders include Altechs CTO Steven Sidley, Tuluntulus CCO Justin McCarthy, Dudley Baylis of Bridge Capital and former Vox Telecom chief executive Douglas Reed. UBU works as a secure and convenient digital payment method. It allocates an economic value to every human, regardless of how much they earn conventionally. Then, it distributes the digital units to everyone on the network. Like other digital currencies, a continuous investment builds onto the value and sustainability of the units. This way, the project can offer a low-cost ecosystem where users can trade their goods and services. In the end, everyone on the network ends up handling money without being taxed, because the system offers adecentralised currency. The UBUCore, the legal entity that runs the projects ecosystem, creates value in the UBU network by remaining inviolable and thus maintaining the projects integrity. To sustain and create value in the UBUsphere (the ecosystem), UBU offers open options for third parties. To boost the value, UBUCore also focuses Continue reading >>

Techcentral Podcast, 24 Jul Behind Sa Cryptocurrency Start-up Project Ubu Techcentral - Iono.fm

Techcentral Podcast, 24 Jul Behind Sa Cryptocurrency Start-up Project Ubu Techcentral - Iono.fm

In this episode of the TechCentral podcast, Duncan McLeod chats to two of the directors behind Project Ubu, a South African start-up that's working to combine the idea of a universal basic income with a blockchain-housed cryptocurrency. Project Ubu chief technology officer Steve Sidley (formerly CTO at Altech) and marketing director Justin McCarthy explain how the concept will work in practice. "Its purpose is to apportion value to all humans, whether economically active or not, so that those trapped in poverty are provided access to the economy where they can create wealth," the company explains. It was established as a "mechanism to enable the free-market redistribution of inefficient resources with the objective being to promote growth-enabling economic access to billions of excluded people". The idea is to create a cryptocurrency that unlocks dormant, inefficiently allocated and unrealised resources to create commercial and social value. Founded by Bridge Capital director Dudley Baylis, the project has attracted some heavy hitters, including McCarthy, Sidley and former Vox Telecom CEO Douglas Reed. The advisory board includes former Wooltru CEO Colin Hall. In the podcast, Sidley and McCarthy talk about how the system will work and who will benefit. It's a fascinating idea. Its backers think it could change the world. This is a podcast you most certainly do not want to miss! Continue reading >>

Project Ubu: South African Crypto Currency | Crypto-news.net

Project Ubu: South African Crypto Currency | Crypto-news.net

Universal Basic Income (UBI) is a very popular topic at the moment.Countries like Finland and the Netherlands have conducted exploratory initiatives on the topic, with small-scale experiments to see how it fares. UBI is a concept that is increasingly advocated by those who want to streamline the social welfare system while simultaneously future-proofing it for a world where many jobs are done by robots or artificial intelligence. UBI involves giving each citizen the same fixed regular payment, regardless of whether they have other income or not. Of course,another very popular topic is blockchain technology . Blockchain tech aids in transparency, automation (with smart contracts), and investment management. So it is perhaps inevitable that someone would have the bright idea to combine the two. This is what Ubu, a South African blockchain project , seeks to do. The project has the ambitious goal of creating a cryptocurrency that unlocks dormant, inefficiently allocated and unrealized resources to create commercial and social value. The objective is noble, but when it comes to what these dormant, inefficiently allocated and unrealized resources are, the concept becomes a little more complicated. In terms of use cases and what the network would actually do, a good way to put it would be that a currency with a social goal can be a good platform for businesses to donate to those in need while also benefitting from network effects. In practice, the Ubu team have several use cases outlined: Accept UBUs for distressed or expiring inventory, recouping some input costs. Leverage zero margin cost inventory with UBUs to attract and retain more customers. Exchange dormant loyalty points for UBUs to diminish balance sheet liability. Geo-targeted promotions using UBUs as a pull mechan Continue reading >>

South Africa Launches The First Cryptocurrency

South Africa Launches The First Cryptocurrency

South Africa launches the first cryptocurrency Cryptocurrency and Blockchain technology is officially on South African soil after the country launched its first start-up called Project UBU. The project rolled out its ITO (Initial Token Offering) of their UBX token with a pre-sale in September 2017. The public sale took off on 29 September 2017 and ran until 21st October 2017. After that, a contract sale was undertaken between 21st October 2017 and 15th November 2017. Project UBU is part of the Universal Basic Income projects that aim to significantly reduce poverty levels in Africa through a decentralized distribution of digital currency to the poor. The projects ambition is to develop an alternative, global and decentralized cryptocurrency that will help bring some economic freedom to millions of poor people around the world. Project UBU is, therefore, a cryptocurrency system whose aim is to provide UBIs (Universal Basic Income) to the worlds poor population. The fundamental principle is to apply blockchain technology to unlock and freely distribute trapped and inefficient economic assets to every underprivileged person who chooses to receive them. These will be in the form of UBU tokens which can be used to buy goods and services. In addition to the people who see in cryptocurrencies a way to invest and earn money , many people see cryptocurrencies as a way to help the poor and change the world. UBU Core is the entity behind the UBU project . It was started in November 2016 before being officially constituted as an LLC in April 2017 by the laws of South Africa. The whole project will eventually be anchored on the Ethereum network. UBU Core has three defined operating phases: Minimum Viable Product the initial period under which the project was developed, including th Continue reading >>

Project Ubu Launches Token Sale

Project Ubu Launches Token Sale

Twitter Facebook Google+ LinkedIn WhatsApp Reddit South African start-up Project Ubu, which is working to combine the idea of a universal basic income (separate from government-led initiatives) with a blockchain-housed cryptocurrency, has announced the launch of an initial token sale of its UBX token to fund its planned roll-out. Founded by Bridge Capital director Dudley Baylis, Project Ubu has attracted a number of heavy hitters to its management team, including former Vox Telecom CEO Douglas Reed, former Altech chief technology officer Steven Sidley and former advertising industry executive Justin McCarthy. The Project Ubu token sale has three distinct phases, the company said on Wednesday. An initial token sale is the same mechanism as an initial coin offering, the only difference between a coin and a token is a technical one related to ethereums ERC-20 smart contract protocol There will be a pre-sale phase, running until 28 September, with a cap of four million tokens. Pre-sale investors will earn 25 bonus tokens for every lot of 100 tokens purchased. Applications are non-binding and payment will only become due on 29 September, once applications are approved. A public sale phase will then commence on 29 September, running until 20 October, with a cap of 4.5m tokens. Finally, a contract sale phase will begin on 21 October and end on 15 November, again with 4.5m tokens available. The UBX is an ERC-20 smart contract token built on the ethereum network and is priced at US$5, Project Ubu said in a statement. An initial token sale is the same mechanism as an initial coin offering, the only difference between a coin and a token is a technical one related to ethereums ERC-20 smart contract protocol. The details of the basis for the valuation, as well as the underlying mat Continue reading >>

Global Poverty Initiatives: Cryptocurrency As A Universal Basic Income

Global Poverty Initiatives: Cryptocurrency As A Universal Basic Income

Global Poverty Initiatives: Cryptocurrency As A Universal Basic Income Since the advent of Bitcoin in 2008, cryptocurrencies have been heralded as nothing less than an economic revolution. Bitcoin believers promised the end of the central bank world order and the liberation of unbanked populations. Fast-forward a decade later, and where we are now is far from where we thought wed be. In the words of the de-facto cryptocurrency figure head Vitalik Buterin: So total cryptocoin market cap just hit $0.5T today. But have we earned it? How many unbanked people have we banked? How much censorship-resistant commerce for the common people have we enabled? How many dapps have we created that have substantial usage? The answer to all of these questions is definitely not zero, and in some cases its quite significant. But not enough to say its $0.5T levels of significant. Not enough. Vitalik points to a troubling phenomenon in the cryptocurrency community: a divergence from the libertarian, idealistic, almost Utopian goals that fueled Bitcoins creation. Now the popular conversation is cluttered with price memes, cries of: to the moon! and the like. You have to dig deep, but there are still projects trying to use cryptocurrency and DLT to create a better world. One area that isnt getting as much attention is perhaps the most ambitious of all: a universal basic income (UBI) distributed in the form of cryptocurrency. The concept can be traced back to at least the 16th century, with humanist Thomas More arguing that a minimum income would be a better theft-deterrent than the status quo punishment of death by hanging. The debate has evolved over the centuries, and current experiments are underway in Finland and California that give close to $600 a month to a test population. While these Continue reading >>

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