UCOT

A SMART IOT ECOSYSTEM

Written by: Leon Liu Website: www.ucot.world

Championed by established business alliances.

John Baird

UCOT CEO As the function connecting manufacturers to suppliers and consumers, the supply chain plays a pivotal role in the commercial world. Thanks to globalisation, we live in a world where different components within the supply chain can seamlessly integrate into a supply chain, regardless of geographic differences. For example, the adoption of Internet-of-Things (IoT) expedites the process in which, say, mobile phones are designed in California, manufactured in China and can be sold in Australia or other retailers around the planet. (China Daily, 2017)

However, this poses multiple threats to the operations and efficiency of supply chains. As supply chains often involve different countries and regions presently, especially for big international corporations, the regulatory and legal issues are, undoubtedly, of significance, and the risk of supply chains data being hacked or tampered is exacerbated. Stakeholders lean on the reliability and traceability of supply chains data, which is difficult to achieve with traditional supply chain solutions.

Figure 1: Supply chains integrated with IoT are facing multiple challenges (EY 2016)

Blockchain technologies are attractive due to their tamper-resistant capacity and traceability, which can be used to upgrade existing supply chains solutions. And one of the pioneers in this field is UCOT (Ubique Chain of Things), which provides a decentralized, secured and structured ecosystem underpinned by 5G telecommunication. This enables stakeholders, such as suppliers and consumers in the supply chain, to gain access to accurate and reliable information.

Through various modules designed for Registration, Supplier, Manufacturer, Digital Chip Tracking and User Interface, users of UCOT are able to easily record and/or track information in supply chains even just on mobile phones. This eases the pain of unnecessary costs of tracking data and maintaining supply chains, which are of concern to companies endeavoring to lower their costs and thus to boost profitability, as PwC (2013) explains. Consumers would find UCOT as a trustworthy resort to the lack of confidence in suppliers who implement only traditional supply chain solutions, while suppliers and manufacturers would be benefited from this as well. The tamper-resistant and self-repair capacities of blockchain technology also empower supply chains not only to detect but to restore the tempered data as well, thereby advancing data’s autonomous and self-sufficient attributes.

UCOT can lead to diverse applications. In order to accommodate to varying customer demand, companies can utilize UCOT to configure their supply chains for different customer segments. By doing so, companies

Figure 2: Profitability of the supply chain (1st) and reduction of total supply chain cost (2nd) are top priorities for companies (PwC 2013)

are also able to effectively concentrate on fewer well-designed and consumer-oriented supply chains for specific consumer groups. Again, this would also help companies lower their cost in supply chains.

Supply chains, in addition, are subject to the ever-changing commercial market. To be able to survive, the key prerequisites for them are adaptability and sustainability. Sustainability involves issues regarding the environment, geography, governance, management and social awareness. But to achieve it, companies would need to keep track of every bit of data produced in supply chains, and traditional supply chain solutions are unsuitable to process the increasingly complex data as discussed above.

With its sophisticated features, UCOT can be applied to keep precise and punctual records of data in supply chains and to give insightful information regarding issues of sustainability. Origins of the products, for instance, would be recorded and saved in the UCOT ecosystem, and downstream users would be able to check data against local regulations or to ensure the whole process is eco-friendly as required by some NGOs or government bodies, with high trustworthiness. UCOT would help companies embark upon a new phase of the usage of the supply chain. Providing data security and traceability attributable to Blockchain and its tamperresistant capabilities, UCOT enables both suppliers and customers to gain access to authentic and reliable information about the supply chain at a holistic level by providing services including origin verification, supply chain management, and certification, among others.

UCOT comes backed with well versed veterans of the blockchain industry, such as Ryan Xu, Leigh Travis and Phil Cvetovac. University of Technology Sydney and the University of New South Wales have jumped on board as research partners for this project and will aid in advancing the technical underpinnings of it. UCOT is also championed by established business alliances like DigitalX, Blockchain Global and Chang Jiang International Express.

Aug 17 - Preparation

Project launch, technology core team established

Oct 17 - Angel Round

Token sales (TSP) angel round completed

Nov 17 - Private Sale

Token private sales completion and Ucot.world wesbsite construction

Jan 18 - UBI Sale Completion

Crypto token (UBI) sale completion

Feb 18 - Substitution Coin

Substitution coin being issued and listed

May 18 - Version 1.0

Testing Completion, Version 1.0 goes online

Jun 18 - Protocol

Manufacturing facilities established for tracking & communication protocal

Dec 18 - Industry Solution

Business solution integrated at industrial level