USAT, found online at USAT.io, is a non-profit organization that funds, developers, and implements technologies that improve the world. Find out how they operate today in our review.
What Is USAT?
The United Scientists Association of Technology Inc., or USAT, is an Australia-based organization that uses the Utoken digital currency. The Utoken ICO is scheduled to begin with a pre-sale on February 15, 2018.
Basically, by participating in the Utoken token sale by USAT, you’re buying a share of the company’s intellectual property. The company holds two Australian patents related to the use of solar electricity. When you buy Utokens, you’re buying a proportional share of all current and future patents held by the company.
USAT gets its patents from an Australian research firm known as AIHEM.
The token sale for Utokens begins on February 15, 2018.
How Does USAT Work?
USAT Inc. holds a repository of intellectual property (IP). That IP, according to the USAT whitepaper, includes “legal, identifiable, intangible assets in the form of patents and trade secrets.”
That IP repository is open for shared ownership. You can buy a share of ownership by purchasing Utokens.
In other words, each Utoken you buy represents a share of intellectual property ownership. Utoken is a token of shared ownership of all present and future patents and trade secrets stored in the USAT Inc. IP repository.
What kind of trade secrets does the United Scientists Association of Technology (USAT) hold in its repository? What kind of future potential do these secrets have?
Well, the company claims to operate from the Innovation Center Sunshine Coast P/L (ICSC), a leading business incubator and accelerator that operates as a subsidiary of the University of Sunshine Coast in Queensland, Australia.
USAT Inc. is also affiliated with an organization called the “Australian Institute of High Energetic Materials”, or AIHEM. The USAT whitepaper describes this as “an Australian based professional alliance, which was established in 2009 with a mission to facilitate research in fundamental and applied science directed towards expanding human knowledge.”
AIHEM’s network includes 138 professors, 65 associate professors, 89 scientists with doctorial qualifications, and 28 Msc engineering professionals from 50+ countries worldwide.
That’s where the core value of USAT’s intellectual property lies: the organization claims to receive “a constant influx of novel technological proposals” from AIHEM.
After USAT receives a proposal from AIHEM, the team carefully examines each proposal. They only select proposals that have proven engineering and commercial merit. The selected proposals are financed by USAT Inc. with the goal of creating innovative products.
Ultimately, USAT will complete a project and introduce it to the market. At this point, here’s what will happen to Utoken holders:
USAT will continue the financial cycle by reinvesting profit into new projects from its constant pipeline supply from AIHEM
USAT will buyback and cancel a calculated percentage of Utokens via a smart contract
The USAT ICO
USAT is issuing 1.525 billion Utokens. Each Utoken represents shared ownership of all present and future patents and trade secrets stored within the USAT repository.
The tokens are priced at $0.04 during the pre-ICO, rising to $0.20 by the end of the ICO.
The token sale will begin with a pre-sale on February 15, 2018. The ICO is expected to continue until June 15, 2018l.
You can contribute to the token sale using ETH.
Of the total supply of 1.525 billion Utokens, 50% is being distributed to ICO investors. The remaining tokens are for USAT Inc. (35%) and the Foundation (15%).
Of the funds raised during the token sale, 75% will be allocated for product development, including the marketing and development of various USAT patents. The remaining funds will be used for the USAT support team (20% going to IT and ICO developers as well as legal, accounting, marketing, and PR advisors), marketing (2%), and operations (3%).
USAT is seeking to raise $76 million (!) through its token sale.
What Kind of Patents Does USAT Own?
USAT claims to have a large repository of trade secrets and other valuable IP. They also claim that more proposals are coming down the AIHEM pipeline on a regular basis.
However, the USAT whitepaper reveals that the company owns just two patents. Both are Australian patents:
Patent # AU 2017100315:
This patent is for “a multi-layered structural material for conversion of solar radiation to kinetic energy of fluids.” Basically, it describes a method and apparatus capable of converting solar energy to electricity via a solar wind farm.
Patent # AU 201710410:
This patent refers to “recuperation of waste heat to co-generate electricity in solar-wind farms.” It’s a product that takes waste heat from computers and other electronics, then converts it into electricity.
Overall, the USAT whitepaper describes these patents as valuable technologies for future electricity generation. They allow customers to reduce production costs of electricity and become fully autonomous external electricity suppliers.
Who’s Behind USAT?
USAT is led by key members from AIHEM, including Peter Banjanin, Lilia Stamatova, and Dr. Benedict de St. Amatus.
You can contact the company by email at [email protected]
Banjanin is an Honorary Chairman and a founding member of USAT Inc. and the Chair of the Business Development Sub-committee of the Academic Council of the Australian Institute of High Energetic Materials (AIHEM).
Stamatova is treasurer of the Management Committee of USAT Inc. She has two Master of Science degrees in Chemical Technology and Chemical Engineering.
Dr. Benedict de St. Amatus, meanwhile, is the Chair of AIHEM and a Reader of the Australian Research Council. He has authored or co-authored more than 80 scientific manuscripts.
Overall, USAT Inc. is a non-profit organization based in Queensland, Australia. That organization is affiliated with universities, Nobel Prize winners, and more than 300 distinguished scientists from 50 countries worldwide.
USAT Inc. is an Australian company that holds two patents. Those patents are related to generating solar electricity. Starting February 15, you can buy Utokens during the USAT token sale. Each Utoken represents a proportional share in those two patents – as well as all future patents held by USAT.
USAT gets its patents from an organization called the Australian Institute of High Energetic Materials, or AIHEM, a scientific organization consisting of hundreds of professionals, PhDs, and engineers worldwide.
To learn more about USAT and how it works, visit online at USAT.io.