ICO Review: UniFox Blockchain
Imagine a cryptocurrency that can be used in a similar way to a credit card. A cryptocurrency that can be used at point of sale (POS) terminals, at ATM machines, both local and online exchanges, one that can be used at Kiosks in third world countries and at booking offices to pay for flights, one that can be used to purchase movie tickets and do everything that MasterCard and Visa do. That is the vision behind the UniFox project. Creating a stable coin that can be used just like Visa. The goal is to take cryptocurrencies mainstream.
How UniFox Platform Works
First of all, UniFox is proposing to use its own proprietary blockchain, therefore, it will issue its own native coin called UniCash. UniCash will be a stable coin that should protect investors and holders against the volatility of the cryptocurrency space. UniCash will allow the integration of all major cryptocurrencies to its ecosystem similar to Tether and other stable coins. However, UniFox takes this a step further and allows the linkage between the Fiat and the cryptocurrency worlds. The UniCash coin will be used for purchases at local POS terminus, for exchanges on both local and online cryptocurrency exchanges as well as stock exchanges to value assets. Just like large and small retail stores accept Visa or MasterCard, they will be able to accept UniCash for purchases on the internet.
This also means that with UniCash holders will be able to step into any ATM and withdraw fiat currency through their UniFox wallets. The backend of the process of converting UniCash to fiat will be carried out on the blockchain and the user will not have to understand the technology at work.
In line with this, the UniFox management is carrying out a fundraiser to raise funds to build the blockchain. Instead of using the UniCash coin it introduces the Fox Coin. This will be the native ecosystem coin that will facilitate usage and utility within the ecosystem. The Fox Coin will be both a utility and a security token in that for fees and gaining access to the platform users will require the Fox coins and it will be a security because holders of the coin will be eligible to receive dividends from the profits of the platform at the end of every financial period.
Total Tokens: 1,000,000,000 FOX
Available For Sale: 60%
Price: 1 FOX = $0.25
Soft cap: $20M
Hard cap: $100M
Token Sale: 600,000,000 FOX (60%)
Team: 250, 000,000 FOX (25%)
Future Use: 60, 000,000 FOX (6%)
Advisors: 50, 000,000 FOX (5%)
Affiliate: 20, 000,000 FOX (2%)
Bounty: 10, 000,000 FOX (1%)
Airdrop: 5, 000,000 FOX (0.5%)
Dalibor Malek (CEO & Co-Founder) - https://www.linkedin.com/in/dalibor-malek-31788625
Vadim Bilousov (CTO & Co-Founder) - https://www.linkedin.com/in/vadim-belousov
Jan Turek (COO & Co-Founder) - https://www.linkedin.com/in/jan-turek-88a6a4ab/
Robert Breadon (NLP Coaching, speaker) - https://www.linkedin.com/in/robert-breadon-71725126/
Wes Carlson (Blockchain Advisor) - https://www.linkedin.com/in/wesleycarlson/
The project has a noble vision to help take cryptocurrency mainstream but the challenge is very huge. The team is capable and the team of advisors is stellar however the vision of competing with Visa and MasterCard puts it head to head with industry bigwig Bitcoin. And the vision of creating a stable coin – UniCash also put it into direct competition against Tether and others such as True USD that already have a first mover advantage. Only time will tell whether the team can deliver on the promise. Their social media space is filled with chatter and a lot of activity showing that the project is well hyped but the ICO goal could be a little too far to achieve.