As part of the platform development process for #SmartLiving UbiNET Inc. has launched two cryptocurrencies the ThingCoin and UbiNET Token. The two currencies work together within the platform to both secure identity and enable transactions.
UbiNET Token is the user access token for the UbiNET platform and ThingCoin is the transaction currency within UbiNET.
We have only issued a limited number of access tokens and transaction coins at this point to test the ecosystem and evolve a number of market propositions, say’s CEO and Chief Scientist Karl Smith
The UbiNET platform is reliant on several technologies including, micro sensors that use ambient power, blockchain, cryptocurrencies, 5G and artificial intelligence as defined in the Open Network Ecosystem Protocol patent and won’t launch until they are all aligned.
We have not ruled out an ICO to create the funding for a city state test of UbiNET but we want to be sure that investors gain a benefit before we move in that direction, we are reviewing several funding options at this stage but will continue to use our consultancy profits until real value can be offered to investors, say’s CEO Karl Smith
Last week Paradigm Interactions Inc. created a new subsidiary UbiNET Inc. set up as a stock corporation to support several funding rounds to deliver it’s global technology, data and service platform. This change in strategy is due to an over subscription for Series A investment which has created a focus on investors outcomes.
The formation of UbiNET Inc. will have no immediate impact on staffing and facilities but it is intended to focus R&D on the open network ecosystem protocol already filed at USPO.
The CEO of Paradigm Interactions Karl Smith described this change as “it’s fundamental that we have the business structures in place to enable investors to have clarity around their participation” further “having worked in global M&A and with VC funded start-up’s, I recognise that a good idea needs to be supported by and understanding of how to facilitate investment, engagement and exit”.
Karl Smith is an inventor of open network UbiNET which he has patented and a holistic transformation consultant more involved with how humans have to deal with technology than the technology itself. Karl Smith is also former Global Head of Mobility User Experience at Accenture and Partner (founder), Global Head of Digital Design at Wipro Digital, current Chairman of the Human Centered Design Society and has relaunched or launched Design as a USP in several global enterprises.
Karl has always been fascinated by how technology can augment the lives of humans, his desire was not to build things that humans already do but to find out how technology could evolve all human experience. He is still looking for the Gene Roddenberry future today where humanity pulls together and projects all of us the next stage of evolution. Transformation is at core of this evolution; he’s highly engaged in Ubiquity or the IoT as it is a gateway point.