Introduction
Utabit is a collection of solutions for corporations and enterprises to enjoy the benefits of blockchain technology. It is created by a team of entrepreneurs and makes its official debut August 18.
It eliminates operational issues of implementing and deploying blockchain projects with its excellent features such as security, transparency, immutability and distribution. Utabit is active in many areas from cryptocurrency to gift voucher and ready to undertake the hard work, facilitating blockchain transformations.
Although many corporations and enterprises always assert that they are looking for new methods to increase optimization and performance, problems like distrust and lack of knowledge prevent them to adopt blockchain as a revolutionary technology.
Looking for an answer, Utabit is developed to wipe out all issues and assist corporations and enterprises to utilize the technology confidently and smoothly.
It uses proof of work algorithm with 80640000 coins and initial reward is 512 ubits which will be halved after each 78750 blocks. By the way, Utabit’s servers will be restarted before August 18 and no right of premining is reserved for developers.
Main features of Utabit like any other blockchain network are security, transparency, immutability and distribution, but the most important is distributed processing of data which has omitted central authorities and other intermediaries.
What does Utabit offer?
Cryptocurrency
UTABIT cryptocurrency is especially designed to handle both governmental regulatory issues and ambivalent public perception, because it comes with transparency and easy to use interfaces.
Smart property and proof of ownership
Utabit provides a fast, cheap and easy platform for registration of properties called Utadoc(http://utadoc.com). By using this platform managing tangible and intangible properties is no longer a difficult process.
Healthcare
Utabit offers solutions for hospitals and healthcare institutions to manage patient data seamlessly and securely in a way that all patient records such as prescriptions, therapy sessions, former surgeries experiences and so on are easily accessible for physicians and nurses.
Microfinance
As it gets harder for small businesses and new startups to find monetary resources, Utabit offers simple but effective solutions for limitless financing.
Messaging
Utabit has a platform that overcomes limitations related to identity control, eliminates intermediaries and third parties, allowing individuals to send and receive messages securely.
Gateway
Payment industry suffers from high transaction fees especially in international settings. However, Utabit offers a blockchain gateway that reduces time, labor and transaction fees.
Identity
By combining the decentralized Utabit features with identity verification, a digital ID can be created that would act as a digital watermark assigned to every online transaction.
Peer to Peer lending
Utabit provides a perfect space for peer-to-peer reputation based lending which is empowered by blockchain characteristics. By utilizing this space, excessive regulations, lengthy processing and unreasonable installments will be removed.
Crowdfunding
Utabit’s Crowdfunding solution is not vulnerable to economic crisis and recessions and does not require young businesspersons to establish long term relationship with investors.
Gift Voucher
Aware of the loyalty program issues, Utabit offers a groundbreaking blockchain based platform to manage consumer and customer clubs more efficiently and promote these programs more effectively.
