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Ubex Basic Review

About Project

Name: Ubex

Ticker symbol: UBEX

Project type: Marketing

Extended company description: Ubex is an advertising exchange implementing its main functions via neural networks, blockchain and smart contracts.

Company: Ubex AI AG.

Website

Whitepaper

ICO Details

Public ICO start date: 21.05.2018

Public ICO end date: 13.08.2018

Token sale duration (weeks): 8

Token type: ERC-20

Token emission: 4,000,000,000

Tokens available on sale (pre-sale + public ICO): 2,880,000,000

Investment goal: platform development, marketing, development in various parts of the world

Price: 1 UBEX = 0.00001 ETH

Accepted currencies:

Bounty program: active

Token role: functional (payment token)

Team

Team (number of people): 37

Advisors and partners (number of people): 4

GitHub

Project

Ubex is an advertising exchange implemented via neural networks, blockchain and smart contracts.

Advertisers can automatically purchase ad slots using the Ubex system. Users are paid for performing targeted actions. Advertising content reaches interested users through a system of neural networks.

Publishers, in turn, can profitably sell advertising slots and receive payments promptly using smart contracts.

Advisors:

  • Cecilia Mueller Chen (LinkedIn) - Compliance advisor. Founder of Comply Now, member of working group on regulation and policy at the Crypto Valley Association, previously senior regulatory officer fat Deutsche Börse.

  • Michael Gord (LinkedIn) - Technical advisor. CEO and founder of MLG Blockchain Consulting, partner at MLG Blockchain Capital, investment advisor to Astronaut Capital.

  • Ismail Malik (LinkedIn) - Marketing advisor. Editor-in-chief for ICO Crowd, CEO and founder of BlockchainLab, blockchain specialist at SmartLedger.

  • Arie Orlovsky (LinkedIn) - advisor (Israel). CEO and founder of Medviser.ru, previously Strategy Consultant at Booz & Company, Business Development Manager at Amdocs.

Partners:

  • Cryptovalley labs - a laboratory accumulating cryptocurrency and blockchain projects.

  • Smart Valor - an investment fund dealing with alternative investments.

  • MME - law firm.

  • MLG blockchain consutling - a consulting firm specializing in blockchain projects.

  • Crypto Finance - a platform for investing and storing cryptocurrency.

  • Superbloom - a platform for creating portfolios based on cryptocurrency;

  • ICO Crowd - independent online and press magazine dedicated to ICO development and coverage of events pertaining to tokens, digital assets and cryptocurrency.

  • Seoul Blockchain - a platform for promoting blockchain technology.

  • Crypto Valley.

  • Taiko Tech - a consulting firm in Fintech and risk management.

  • Deep Green (N/A) – a company helping startups and new products enter the British market.

  • Tokita Investment  -  a company helping startups and new products enter the Japanese market.

 

Attracted investment: N/A

Summary

The project is based on an advertising exchange enabling advertisers to find relevant and financially profitable advertising slots automatically, and publishers to monetize free advertising slots.

Strengths of the project:

  • The potential market for the project is demonstrating high growth rates.

  • An experienced team and advisors.

Project weaknesses:

  • Information on strategic partners is not disclosed, but according to a statement from the team, this information will be announced presently.

  • Strong competition in the market.

 

Market and Industry

According to Statista, the total volume of digital advertising will be $335.48 billion by 2020, with a CAGR of 18%.

Juniper Research estimates that this volume will be $285 billion by 2020.

According to the team’s analysis, the total global advertising market volume was $465 billion in 2015, $493 billion in 2016 and $500 billion in 2017.

The team also notes that the internet advertising market significantly exceeds that of television advertising. Fastest growing markets are in Eastern Europe, the Middle East and South America.

Comments: The online advertising market is developing dynamically, but there are a large number of competitors. More in the section below.

Competitors

The team has presented a competitive analysis in the WP:

  • by advertiser selection:

  • by publisher selection:

Summary: There are many advertising platforms in the current market. Existing advertising platforms clearly already possess clients and investment histories. In our opinion, there is a risk of failing to obtain a significant share in the target market.

Platform Technical Parameters

The platform is built on the basis of blockchain technology with the use of smart contracts and neural networks.

This advanced decentralized advertising marketing system, which is responsible for making decisions at all stages of the life cycle of advertising material will have an API, access to which will be offered to partner companies. Neural networks evaluate users’ interests, calculate the probability of targeted actions for all advertisers’ offers and choose the most suitable advertisement for the user. Due to this, site visitors see only those ads which aligned to their interests, to convince them to perform the desired action with a maximum probability.

The neural network system will operate using automated decision-making nodes (DSP - Demand Side Platform). DSP act as data stores for users and they are divided into the following types:

  • DSP-1 (behavior analysis). This module receives user data.

  • DSP-2 (offer selection). DSP-2 should select a list of potential candidates, such as promotional materials and widgets which could potentially be of interest to a particular site visitor. Taking an input signal from the tracker (obtained from the previous DSP-1), the current DSP 2 conducts its regression evaluation of all available adverts according to tags selected in the previous step.

  • DSP-3 (final decision). DSP-3 accepts all parameters collected by the tracker for the current request and selects from the materials chosen in the previous step.

Trackers then track all further user actions including analytics, clicks and interaction with promotional materials.

Smart contracts ensure compliance with the contract.

Technological Description

The platform will be targeted at advertisers and publishers.

The working process of the platform from the point of view of the advertiser will be as follows:

  1. Creating an offer, specifying commercial conditions (cost of advertising or percentage of sales);

  2. Select a widget or create a personalised one.

  3. Selecting the interests of the target audience, display time, geography, etc.

  4. Launching an advertising campaign and checking the results.

In order to verify the effectiveness of an advertising campaign, an advertiser can track the following: Target actions, display time, publisher activity in advertising campaigns, reports provided by the system.

The working process of the platform from the point of view of the publisher is as follows:

  1. Registration of an ad slot. The publisher selects slots for ads on the website, marks them with a special identifier and places the Java script code on the exchange.

  2. Regulation of restrictions on advertising themes. The publisher selects from permitted topics in the Ubex interface.

  3. Publisher specifies geolocation, audience interests and social parameters.

  4. The publisher sets restrictions on widgets and advertisers.

Payment is made only after the completion of the targeted actions specified in the offer. The funds are credited from the amount held in the Ubex platform’s escrow system or from the advertiser's account at the time specified in the smart contract.

Comments: The project uses technologies that have already proven themselves in the market. An alpha version of the mobile application will be released on May 20.

Technological roadmap

With the development of technology and the amount of data collected, it is planned to implement the following:

  • August 2018 – Launch of desktop and mobile alpha versions of the application for publishers.

  • October 2018 - Development of a prototype of the neural core of the system, and initial preparation of neural networks.

  • November 2018 - Implementation of smart contracts.

  • December 2018 - Introduction of the API prototype.

  • January 2019 - Launch of desktop and mobile beta versions of the application for advertisers and publishers.

  • March 2019 - Release of final versions of operational applications and smart contracts.

 

Comments: The team has presented a step-by-step development strategy. They have already developed a model for the platform as well as the facility to work with widgets.

 

The following active modules are available in the open repository:

  • ubex-crowdsale-api.

  • ubex-blockchain-api.

  • ubex-smart-contracts.

Comments: The repository contains the following modules:

  •  ubex-crowdsale-api - REST API for UBEX Crowdsale/

  •  ubex-blockchain-api - HTTP API Ethereum.

  •  ubex-smart-contracts - Ubex smart contracts.

The repository belongs to Ubex; the modules are active.

Documentation

We have analyzed the Ubex website and documentation for sufficiency and consistency to assist any investment decision.

Information about the project is contained in the White Paper and One Pager. The documents are presented in English. The White Paper offers a description of the project; the main emphasis is on technical component of the project.

The website also provides information about the project, the team, partners, advisors and the ICO; the site is presented in English, German, Korean, Chinese and Spanish.

Summary: The documentation enables a comprehensive view of the project; it is described in sufficient detail.

ICO

Tokens issued for sale: 72%

Public ICO start date: May 21, 2018

Token type: ERC-20

Accepted currencies:

Price: 1 UBEX = 0.00001 ETH

Crowdsale duration: 12 weeks

UBEX token is a means of payment on the platform. Advertiser will be able to pay for advertising slots in tokens. There will be lending available through company partners if the would-be borrower has a positive rating.

Tokens will also serve as a reward for users for providing information, thereby teaching neural networks.

Token limitation: 4,000,000,000

Token holder perks: Tokens are functional; they can be used for accessing platform services or be sold on exchanges.

Dividends: No

Additional token emission: No

Escrow: No

Hard cap: 24,000 ETH

Soft cap: 4000 ETH

Bonus:

Comments: Tokens will be distributed immediately after the ICO. All unsold tokens will be burned.

Bounty

Bounty Link

2% (80,000,000 UBEX) is allocated to the bounty program. The program is active in the following areas:

Summary: The project has an extensive bounty program. All details are available at the link above. In addition, referral programs and airdrops are available.

Token and Funds Allocation

Tokens and capital are distributed according to the following scheme:

Summary: Tokens do not affect the distribution of shares in the company. The incentive system is built in such way that it is advantageous to buy tokens in advance. Tokens allocated to the team and advisers will not be available until a year after the ICO.

Project Development Plans

Project roadmap:

Summary: The project aims to focus on attracting partners.

Team

The team consists of 33 people and 4 advisors. Information about principal team members based on LinkedIn is given below:

  • Artem Chestnov (LinkedIn) - CEO and co-founder. Member of the board at Reborn, previously managing director of LAToken, CEE marketing and innovation director at Anheuser-Busch InBev, market segment manager at Avery Dennison.

  • Daniel Biesuz (LinkedIn) - co-founder and head of legal department. consultant and M & A specialist at ILFP International Law Firm Partners LLC, legal advisor at LAPO Blockchain, CEO at Blacklion Crypto Asset Management;

  • Guy Weissman (LinkedIn) - technical director. Founder of DataFusion, previously manager of corporate strategy management at Amdocs, associate at Booz & Company, senior financial analyst at Alphabet Inc.

Summary: Not all team members have indicated their affiliation with the project. The team is mostly from Switzerland and also has the following specialists: an operations director, head of sales, head of communications, IR director, head of communications in Africa, blockchain engineer, javascript engineer, full-stack engineer, javascript front-end engineer, community managers and specialists in marketing and PR.

Marketing

Information about the project is available via popular services including Twitter, Telegram, Medium, LinkedIn, Facebook, GitHub, BitcoinTalk and YouTube. The project has a bounty program.

The team is conducting an advertising campaign via social media: Twitter and Facebook feature  regular news updates, and video content is present on the project’s YouTube channel. The format of articles published about the project shows they are written primarily by the team as reviews.

Comments: The project has only recently started to attract attention from the community; the marketing campaign is being developed mainly on Twitter, Facebook, Medium and YouTube.

Traffic analysis of the Ubex website based on Similarweb.com data showed the following:

Traffic source

Comments: Direct: 68.21%, referrals: 6.41%, search: 23.86%, social: 1.52%, mail: 0%

Traffic via search: 23.86%, 100% of which is "organic traffic".

Referrals: 6.41%

Traffic source

Summary: Based on the available data, we can conclude that the level of interest in the project is still low. The team is conducting an advertising campaign via Twitter and Facebook, is communicating with the public on Telegram, uploading videos on YouTube, maintaining a blog on Medium and is actively participating in RoadShows (more details at https://www.ubex.com/#about). There are published articles on the project, which will be presented at the Block Show 2018 Europe conference [https://blockshoweurope.com]. Over the past month, the number of website visits has increased by 167,000.

Contacts

You can contact the developers via the following links:  

Website

Twitter

Telegram

Medium

LinkedIn

Facebook

GitHub

BitcoinTalk

YouTube

The information contained in the document is for informational purposes only. ICORating received monetary compensation from the entity rated in this report for completing the ratings report. However, the entity rated in this report did not have the opportunity to approve this rating report before the report was published, nor did the rated entity have the opportunity to edit or remove this report once it was published. The views expressed in this document are solely those of the ICORating Team, based on data obtained from open access and information that developers provided to the team through Skype, email or other means of communication. Our goal is to increase the transparency and reliability of the young ICO market and to minimize the risk of fraud. We appreciate feedback with constructive comments, suggestions and ideas on how to make the analysis more comprehensive and informative.