FAQ

Frequently Asked Questions

A cryptocurrency is a digital or virtual currency that uses cryptography for security. A cryptocurrency is difficult to counterfeit because of this security feature. A defining feature of a cryptocurrency, and arguably its most endearing allure, is its organic nature; it is not issued by any central authority, rendering it theoretically immune to government interference or manipulation.

Cryptocurrencies make it easier to transfer funds between two parties in a transaction; these transfers are facilitated through the use of public and private keys for security purposes. These fund transfers are done with minimal processing fees, allowing users to avoid the steep fees charged by most banks and financial institutions for wire transfers.

Professional advisers appointed thus far include Dentons as international legal counsel, and a leading Gibraltar law firm, TSN, on matters of Gibraltar law. Dentons is a multinational law firm with more than 135 offices across over 50 countries. It is the world’s largest law firm measured by number of lawyers and has worked on several ICOs.

We believe there are three critical flaws preventing cryptocurrencies from making the leap from speculative investment to usable form of currency. These challenges include: (i) very high price volatility; (ii) latency of transaction times; and (iii) lack of strategic relationships and support.

UbiquiCorp is unique in that we aim to address all three of these challenges. Our two-token structure addresses the volatility problem by providing one token that is stable in value for transactions, and a second token for investors that trades freely and receives a share of the revenue generated in the UbiquiCorp ecosystem. Our proprietary Proof-of-Majority consensus mechanism is designed to provide sub-second transaction times, and our management team has existing relationships with several tier one financial institutions across the globe. Additionally, all T-BRYT transaction tokens are fully backed by cash and cash equivalents and our I-BRYT investment tokens have a financial guarantee of $1.00 per token through 12/31/19 that is distributed to I-BRYT holders upon a Triggering Event.

UbiquiCorp's management team has on average over 25 years of experience. They have founded, invested in, and managed several companies in the both the financial and technology sectors.

UbiquiCorp will make a small fee each time a T-BRYT token is used to make a transfer or purchase a good or service. This fee will help offset the costs of tracking the transactions, managing the movement of the hard dollars backing the tokens, and all other support services. Importantly, we intend this fee to be well below the fee charged by credit card companies or banks for similar transactions. Up to 20% of this fee will be distributed to I-BRYT holders each month.

We expect our T-BRYT transaction tokens will be available in the third quarter of 2019.

We expect I-BRYTs will be traded on a several exchanges but cannot provide definitive guidance on timing. We will provide a list of specific exchanges when they are confirmed.

We expect consumers will be able to utilize T-BRYTs for purchases and domestic/international transfers in several countries in the second half of 2019.

I-BRYT tokens are offered in the ICO. These are our investment tokens. They trade freely, have upside potential, a financial guarantee of $1.00 per token through 12/31/19, and share in up to 20% of revenue generated by UbiquiCorp.

T-BRYTs are NOT offered in the ICO. They are utility tokens that are intended to be a medium for conducting financial transactions.

In order to address two separate (and in many ways opposing) objectives – appreciation in value and usability for real world transactions – we have created two tokens, each specifically designed to accomplish one of those goals. These two tokens are called I-BRYTs and T-BRYTs.

T-BRYTs are intended to be primarily transactional in nature (i.e., used to make purchases and transfers). Their stable price gives people involved in these transactions confidence in the value that is being exchanged, which is paramount to ensuring they are a usable form of commerce.

I-BRYTs, which are being offered in the ICO, have the ability to appreciate because they will freely traded on exchanges, are limited in number, and receive up to 20% of revenue generated from the entire UbiquiCorp ecosystem. They also have a financial guarantee of $1.00 per token though 12/31/19.

Each month, UbiquiCorp will distribute up to 20% of all revenue generated in the prior month to I-BRYT token holders in the form of T-BRYT transaction tokens. These T-BRYTs will be deposited, pro rata, into the wallets of I-BRYT holders.

Schneider Securities ltd. and UbiquiCorp will provide a financial guarantee of $1.00 per token through 12/31/19 that will be distributed to I-BRYT holders if a Triggering Event occurs. Please see the Whitepaper for additional detail on the Financial Guarantee.

The Financial Guarantee provides all I-BRYT holders with protection equal to $1.00 per token. The Financial Guarantee scales with the number of vested tokens: if 100 million I-BRYT tokens are sold, the Financial Guarantee equals $100 million; if 200 million tokens are sold, the Financial Guarantee equals $200 million; and so on.

Schneider Securities Ltd. (“Schneider”) has agreed to provide the first $50 million of the Financial Guarantee. If more than 50 million tokens are sold in the Pre-ICO and ICO combined, UbiquiCorp shall either (i) provide an additional guarantee for the amount above $50 million such that the total Financial Guarantee is sufficient to pay all token holders $1.00 per token in the event of a Triggering Event; or (ii) utilize another third party, such as an insurance carrier, to provide an additional guarantee for the amount above $50 million such that the total Financial Guarantee is sufficient to pay all token holders $1.00 per token in the event of a Triggering Event; or (iii) some combination of (i) and (ii) such that the total Financial Guarantee is sufficient to pay all token holders $1.00 per token in the event of a Triggering Event. Please see the White Paper for additional detail on the Financial Guarantee.

For its portion of the guarantee, UbiquiCorp will transfer funds raised from the ICO to a trust account (the “Trust”) within 180 days of the close of the ICO in an amount that is sufficient to cover its guarantee obligations, plus an additional amount to cover the estimated operating costs of the Trust and the estimated cost to distribute the Financial Guarantee to token holders should a Triggering Event occur. Please see the White Paper for additional detail on the Financial Guarantee.

$1.00 per token will be distributed to I-BRYT holders if any of the following Triggering Events occur prior to 12/31/19:

a. The Company declares bankruptcy.
b. The Company fails to deliver revenue to I-BRYT holders for three consecutive months provided that such non-delivery is not the result of (i) an internal technological issue that the Company is working to resolve; or (ii) a technological issue unrelated to the Company’s operations.
c. Senior management commits fraud or other illegal activity that materially impacts the Company’s ability to generate revenue.
d. The Company fails to provide an annual audit by an accounting firm of its revenue within six (6) months of the calendar year end.
e. The Company willfully dissolves or intentionally ceases operation.

A Triggering Event shall in no case be the result of the following:
a. Changes in the national or world economy or financial markets as a whole or changes in general economic conditions that affect the industries in which the Company and the Company Subsidiaries conduct their business, so long as such changes or conditions do not adversely affect the Company in a materially disproportionate manner relative to other similarly situated participants in the industries or markets in which they operate.
b. Any change in applicable law, rule or regulation or interpretation thereof after the date hereof, so long as such changes do not adversely affect the Company in a materially disproportionate manner relative to other similarly situated participants in the industries or markets in which they operate.
c. The failure, in and of itself, of the Company to meet any published or internally prepared estimates of revenues, earnings or other financial projections, performance measures or operating statistics.
d. A decline in the price, or a change in the trading volume, of the Company’s I-BRYT tokens.
e. Acts or omissions of the Company after the date of this Agreement (other than actions or omissions specifically contemplated by this Agreement).

UbiquiCorp will form a Trust to (i) hold any amounts allocated from the ICO in respect of the guaranteed amount, (ii) accept the Schneider guaranteed amount in the event of an uncured and continuing Triggering Event, (iii) accept any amounts from any third party guarantee provider in the event of an uncured and continuing Triggering Event and (iv) distribute the guaranteed amount to I-BRYT holders in the event of such uncured and continuing Triggering Event. Any and all fees, costs and other amounts owed to the Trust, whether in connection with the Guaranteed Amount or otherwise, shall be paid by UbiquiCorp and shall not be paid from the Guaranteed Amount.

UbiquiCorp shall have 90 days to cure a Triggering Event. If it fails to cure the Triggering Event, UbiquiCorp shall demand payment of the Financial Guarantee from the Trust. At that time, the Trust shall inform Schneider and any other third party providing a portion of the Financial Guarantee that a Triggering Event has occurred. Schneider shall be obligated to pay $1.00 in respect of each I-BRYT token, up to $50,000,000 within 180 days to the Trust. Likewise, any other third party providing a portion of the Guaranteed Amount will be required to pay their respective amount within 180 days to the Trust. The Trust will be responsible for distributing the proceeds of the Financial Guarantee to I-BRYT token holders.

Schneider is a company incorporated under the laws of England and Wales with registered number 06562582 having its registered office at 4/4a Bloomsbury Square, London, England, WC1A 2RP. Schneider was formed in Switzerland in 1991 and re-domiciled to the UK in 1999 with its history dating back to 1119. Schneider and its subsidiaries operate under the auspices of the Financial Conduct Authority, the International Chamber of Commerce and the European Banking Authority and the Financial Services Commission of Mauritius.

Proof of Majority is our proprietary consensus mechanism. It is designed to be highly decentralized, secure, and have a sub second transaction approval mechanism. A technical paper describing the mechanics of Proof of Majority is available in the documents section of our website.

Unlike many other cryptocurrencies that claim to be decentralized but have less than 20 nodes doing the vast majority of the actual mining, Proof of Majority intends to be truly decentralized with thousands of nodes contributing to the network. In Proof of Majority, no arbitrary work is required to “prove” that a transaction is correct. Rather, blocks are generated in milliseconds and forwarded to nodes for consensus approval. Nodes are also not required to perform iterative hashing. Instead, simple quick hashes are performed and data packets the size of a typical cell phone picture are moved, making it possible for virtually any device to contribute. A technical paper describing the mechanics of Proof of Majority is available in the documents section of our website.

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