UCBI is the London-based blockchain project that has a goal of creating a decentralized data bank that should bridge the gap between the crypto space and real economy, and provide users with access to innovative banking technology. The title of the project stands for the Union of Cryptocurrencies and Blockchain International. UCBI is currently holding a pre-sale of the token of the same name that will be a crucial component of their blockchain-enabled ecosystem.
By using the Ethereum blockchain as a foundation, UCBI attempts to build a digital pass technology that should facilitate the process of digitization of various industries, as well as allow access to UCBI's proprietary banking system for legal entities and individuals from all around the world. The planned ecosystem will combine the speed and security of digital currencies with compliance and standardization of banking KYC/AML protocols, which is basically what many crypto projects are trying to achieve in this sphere.
The ultimate goal of UCBI is to develop an all-encompassing ecosystem that would provide users with access to an international broker network, a crypto-based marketplace, and a digital data bank. The use of Ethereum smart contract would grant customers the self-executing investor and issuer rights, which includes the automated payment of dividends, document handling, etc.
The startup introduces the ERC-20 compliant token UCBI that will serve as a means of exchange, investment, and payment for the platform services.
If you consider purchasing UCBI tokens, now is the best time to do it since the project currently has a pre-sale that is scheduled to last until October 17, followed by the fully-fledged ICO. At this stage, UCBI offers 12 million tokens for sale, having established a hardcap of $12 million.
The crowdsale will begin on January 18, 2020, and will last almost throughout the year, up until October 18, 2020. As of the time of writing, the early investors have already purchased more than $3 million worth of UCBI tokens, as indicated on the homepage of the project's official website. Therefore, it would be safe to assume that the startup has good chances of reaching, or even surpassing, the mentioned hardcap.
The price of 1 UCBI at the pre-ICO stage was established at 1 EUR, but during the ICO, the investors would have to pay 1.163 per this utility token. There is a minimum investment threshold of 300 UCBI (or 300 EUR), which is quite appropriate even for a small-time investor who believes in this company. UCBI accepts ETH, XRP, BTC, LTC, MAD, and fiat currencies (EUR and USD). Whitelisting and KYC are mandatory for all investors, though not all of them will be able to partake in this venture since Syria, Iran, Sudan, Somalia, North Korea, Yemen, and Cuba have been placed on the list of restricted areas.
|Start||October 18, 2019|
|End||January 18, 2020|
|96 days left|
|Hard cap||$12 000 000|
|Minimum investment||300 UCBI|
|Tokens for sale||3000000|
|Accepting||ETH, XRP, BTC, LTC, MAD, EUR, USD|
The creation of a global cryptocurrency bank is one of the most important destinations for many projects in this space, because without it, the crypto would remain largely a means for tax evasion and money laundering. With all due respect to UCBI Banking, I can see that these people have put tremendous effort into bringing their ideas into light, I don't see them arriving at that destination, because they are still at the stage of concept development and presentation while others already have the fully (or at least partially) functioning ecosystems.
The idea of creating a blockchain-based banking system has been circling around for years, but not a single project seems to have made any significant progress in this regard. UCBI seem to have a viable idea, and they have proven it by hitting the softcap. But, once again, it is a very tough space they are about to enter, with plenty of regulatory troubles, so you would have to be 100% sure in this project to invest even 300 EUR.
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