The cryptocurrency ecosystem has already seen the development and release of hundreds of different cryptocurrencies. Instead of focusing on purely transactional currency replacements, most of the new altcoins that are springing into existence are designed to deliver specific functions and use cases, and are no longer focused on use as a currency.
Is there room, then, in the cryptocurrency market for yet another cryptocurrency token with no specific purpose aside from the transfer of value? The creators of UbiquiCoin believe so. UbiquiCoin is a new cryptocurrency that is about to launch an initial coin offering to fund the development of what they claim is an “inclusive ecosystem for those using banks, and those without banks and the undeserved”.
Simply launching another initial coin offering and introducing more altcoins into the saturated cryptocurrency market, however, is a recipe for disaster. The UbiquiCoin ICO, however, promises to protect the investments of participants in their upcoming token sale by delivering a financial guarantee backed by a pool of assets.
In this article, we’ll take a look at UbiquiCoin and find out what it plans to achieve. We’ll also examine the UbiquiCoin promise and find out whether it holds water, as well as break down the specifics of the upcoming UbiquiCoin to help you determine whether it’s worth investing in.
What is UbiquiCoin?
The UbiquiCoin solution, at first glance, appears to be a simple cryptocurrency with no unique applications. Upon further inspection, however, UbiquiCoin offers a number of interesting elements that could make it stand out from the initial coin offering crowd.
The UbiquiCoin platform is set to merge cryptocurrency with existing financial systems. While cryptocurrencies offer a wide range of advantages over traditional fiat currency, even the most popular and valuable cryptos in the market today are plagued by issues such as high price volatility, transaction time latency, and a complete lack of strategic relationships.
UbiquiCoin intends to address the volatility issue associated with cryptocurrencies by introducing a unique two-coin system. The first coin in this system is stable in value and is dedicated solely to commerce, while the second coin in the UbiquiCoin two-coin system shares 20% in the revenue generated by the ecosystem and is traded freely.
This approach to volatility management is able to retain a stable value point while at the same time delivering a recurring dividend to investors. The first coin- the transaction coin- is intended to be used for all kinds of financial transactions. Like other cryptocurrencies, the transaction coin can be used to transfer value without the delays and costs associated with traditional fiat currency transfers.
The second coin, called the Progressive coin, is the token that will be offered in the UbiquiCoin ICO. The total number of Progressive coins are limited, and will receive 20% of the total revenue generated by the UbiquiCoin ecosystem on a monthly basis.
The UbiquiCoin network is also aiming to reduce transaction latency by using an innovative consensus method called Proof of Majority. This consensus method, according to UbiquiCoin, will facilitate transaction times of less than one second.
UbiquiCoin also plan to issue physical cards that can be linked to UbiquiCoin wallets that will operate in a similar manner to traditional debit or credit cards. According to UbiquiCoin, merchants are likely to favor UbiquiCoin cards as fees are lower and they will receive funds faster.
The UbiquiCoin ICO
The UbiquiCoin Pre-ICO will be launching on the 30th of November 2017, with the date of the ICO yet to be announced. During the UbiquiCoin ICO, the total number of Progressive coins sold will be limited to 400 million, which includes pre-ICO sales.
Interestingly, the coins offered in the UbiquiCoin ICO are supported by a guaranteed value of $1.00 per coin, which will ensure the value of the currency remains stable should any Triggering Events occur. This promise is backed up by Schneider Securities, which is a licensed global financial institution that holds more than $4700 million in assets.
The UbiquiCoin ICO is one of the first initial coin offerings to offer a price and value guarantee supported by a stable, global financial institution. If you’re seeking a unique and novel approach to the issue of transaction delays and price volatility in the cryptocurrency market, UbiquiCoin is worth considering investing in.