The future of crypto currency is in the Ubricoin
By Catherine Kuria
Ustawi Biomedical Research Innovation and Industrial Centers of Africa is a life science and health production organization. Life science refers to biology, medicine and related subjects. Health production is about creating conditions that produce wealth, wellness
and well being.
Phenomenological Structure of Health Production
Wealth underpins production of health. It is impossible to produce health in a poor person. Having money can guarantee good nutrition as well as access to preventive and clinical services. A person with money can get checkups, treatments, a good place to stay, and can afford education.
Wellness refers to health of the physical body; it begins with preventive care and getting access to medical care. This will be achieved through Ubrica Retail Clinical Centres. The 100 proposed clinics will bring wellness to the 14 million families in Kenya. Well being refers to metaphysical health. If you improve the well being of an individual, you improve their physical health and wealth. Metaphysical health improves as well.
Operational structure of health production
The operational structure of health production comprises three components. The smart contract, Ubricoin and how it acts as a fuel to Ubrica project to build an ecosystem of life science, human engagement embodied in Soko Janja for wealth production. The project components embodying life science work in Ubrica One Biomedical Industrial City (BMIC),
Ubrica Retail Clinical Centers (URCCs) and University Science and Technology Parks
(USTPs). Dr. Macharia Waruingi, the chief executive officer, Ubrica says: “We created Ubricoin because of two things; severe administrative sclerosis in Kenya and trouble with payment gateway.”
In February 2018, Ubrica held a meeting with officials from the Ministry of Industrialization and Co-operative Development at its office. The officials had come to advise it on how to structure its Cooperative Society of Ubricans (CSU). They gave it overbearing regulations that would render registration of cooperative society extremely tedious.
Too much government regulations would have led it to work so hard to satisfy the needs of the government rather than the needs of people it is serving. He goes on to say: “Such rules do not fit modern competitive environment and are much more likely to stultify innovation in an organization rather than promote innovation. Archaic regulations that we get from the government are unhelpful.”
Ubrica decided to create the 21st Century organization architecture built on blockchain as a Decentralized Autonomous Organization (DAO) on Ethereum platform. As it was doing research on DAO, it discovered that a DAO has the capacity of building crypto currency for facilitating its token economy. Soko Janja Payment GatewayMeanwhile, it was developing Soko Janja, an online retail store for members of our CSU.
Members of the cooperative can sell their produce, products and services through Soko Janja. It however encountered a serious problem when implementing payment gateway. Each time it tried to install a gateway such as PayPal, MasterCard, Visa, and the likes, it got a message that its region/country was not approved.On trying digital currency, Ubrica was
urprisingly, approved right away; no questions asked!
Dr. Macharia notes: “We installed coin payment module on our checkout block in Soko Janja. Now that we knew we could build our own cryptos in the DAO, it was a no brainier. We decided to create our own crypto currency, the Ubricoin (UBN). The question was how many units of these cryptos we needed to create to completely fund the Ubrica Project.”
To decide on how many units of UBN it would need to create, the organization
considered the entirety of the Ubrica project. It had calculated how much money
it required to build all the projects through its financial engineering project in 2017. Ubrica had established the minimum amount in Kenya shillings and US dollars that would be required to fund each component of the project to full completion.
From this financial engineering analysis, it concluded that Ubrica Project would take 10 billion Ubricoins distributed in the following manner; Soko Janja project—1 billion UBN, Ubrica Retail Clinical Centres—2 billion UBN, University Science and Technology Parks—2 billion UBN, Biomedical Industrial City—3 billion UBN and Team Development—2 billion UBN. Ubrica targets consumers of health and consumers of knowledge product.
Ubrica studied the nature of knowledge, epistemology, and organization of knowledge by God. It discovered knowledge is organized in three dimensions namely: the explicit dimension, the implicit dimension and the tacit dimension. “We learnt that if we tried to implement a project without awareness of the tacit knowledge, it would crash. The knowledge that comes out is not relevant when we miss the tacit dimension, resulting in a relevance paradox,” he continues to say.
Relevance paradoxes occur when people ignore important information when creating solutions. The solutions derived from the irrelevant information are worse than the problem. The solutions end up in a typical fixes-that-fail system archetype in systems thinking. The solution that seems so relevant produces the effect that is not
In addition, it also studied in detail the works of Harry Markowitz, William Sharp, Merton Miller, Robert Merton, Eugene Fama, Frank Fabozzi, Myron Scholes, Franco Modigliani, Milton Friedman, Paul Samuelson and Andrew Lo in financial engineering. It also studied the theory of economics, efficient market hypothesis, behavioural market hypothesis, the modern portfolio theory, arbitrage, assets valuation, and capital assets pricing model, and financial derivatives such as futures, forwards, options, and swaps. Moreover, these studies revealed approaches to formidable capital formation strategies. He elaborates: “We learnt how to work intently to understand capital markets and Capital Markets Authority in Kenya. We also learnt intensely about the operating principles of the American Security Exchange Commission in financial instruments and crypto-currencies.”
Additionally, it studied the processes of capital formation that leads to effective
financial acquisition (financing) and allocation (economics). This includes organizational production processes and the principles of team dynamics in high performance organizations. It learnt about the procedures of streamlining working teams for high efficiency and effectiveness. Streamlined teams achieve a common goal with great skill and efficiency. Everyone in the organization is a leader and a follower at the same time.
Ubrica provides health services in Ubrica Retail Clinical Centres and Biomedical Industrial City. Moreover, they offer knowledge production and conversion in the Science and Technology Parks. Customers can also use the Ubricoin as a payment method at the point of sale. It has also created an incentive programme for creation of excellence by rewarding excellence, education and practice. The Ubricoin can also be used to pay for health services and for shopping on Soko Janja platform.
The unique selling point of the Ubricoin is that it has built a system for excellence. “We
will reward people who will use Ubricoin for shopping and to create excellence in education and healthcare. In addition to that, we will build the consumer-provider feedback systemfor product and services quality improvement,” Dr. Macharia elaborates. Ubrica will also pool a health risk to cover preventive and curative services for the holder of the Ubricoin
through the pooled smart contract.
The future looks bright for the Ubricoin in the market. In order to enhance its growth and popularity, Ubrica plans on paying taxes with the Ubricoin. This is geared towards achieving universal health coverage and creation of excellence in education and healthcare. He says: “We have hope that in the near future, we will be trading he Ubricoin at international exchanges and using the coin internationally. The excellence programme for using Ubricoin will be ready and we will be rewarding people for doing-good in the community.”
Ubricoin is dynamic and is disrupting the usual way we do business. Dr. Macharia concludes by emphasizing: “Buy Ubricoins and have access to universal health and Ubrica ecosystem. Be part of the solution to drive corruption out the country and enjoy learning new style of governance.”