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January 19, 2018

German B2B process integration company plans ICO


Unibyte is the first German B2B company planning to do an ICO to receive funds for the accelerated development its blockchain based integration framework.

With the core team members having more than 15 years of experience in the traditional field of business and enterprise integration, connecting various IT-Systems and enabling processes, in 2016 the strategic decisions has been made to expand into the blockchain world.

Asking Unibyte’s CTO Stefan Schmidt, he said blockchain technology will stay and play a vital part in the coming years, although it is not the answer to all question. Blockchain technology enables a whole set of new applications, starting from digital currencies, reaching to Smart Contracts and beyond. The most disruptive use cases for the blockchain are yet to come, with Smart Contracts enabling theses transformations. This enables companies to create ecosystems that support their business processes, making them more efficient and benefit from the features blockchain offers like trust, security, immutability. Blockchain technology can be used in various fields, it might be the solution for the commercial world record keeping as well. Fintech, Shipping, Healthcare, Unsafe Markets, Supply Chain Management are all fields that could benefit from Blockchain Technology.

Unibyte framework

Unibyte is already offering a heavily used cloud-based integration platform, that enables business processes and data exchange between various systems like SAP and Microsoft Navision and connects process partners like buyers and suppliers. The integration of the blockchain world was the next logical step. The framework which can be seen in more detail on unibyte.io, empowers cross-blockchain and cross-system business process integration.

Business workflows are designed visually and smart contracts automatically generated for various blockchains, as well as smart adapters to connect to existing IT systems and smart query sets to monitor the ongoing business process.

The Unibyte framework is blockchain agnostic – the idea is to be independent from a specific blockchain like Ethereum. As the field of blockchain technology is highly vibrant and ever-changing, the framework enables the definition of business integration scenarios in a more abstract manner. This allows not only blockchain specialists to use blockchain technology, but also process specialists and more general business users, too.

The Unibyte process starts with defining workflows based on proven templates. Each template consists of a pre-defined standard workflow, suitable for a specific use case e.g. “Multi-Party-Approval”, “Request for Quotation”, “Milestone Payments”, and many more.

Inside the Unibyte Workflow Designer the user picks a template and customizes the given standard workflow to his needs. System boundaries, necessary connections to IT systems and integration of other blockchains can be defined in the workflow as well.

The needed SmartContracts containing the business logic for the designed workflow are then generated automatically. They can be deployed to (and maintained in) a specific blockchain by the Unibyte Contract Lifecycle Manager.

SmartAdapters for the UnibyteConnector allow the integration of various blockchains and ERP-systems. The corresponding SmartAdapter configurations are also automatically generated out of the workflows.

The ongoing process can be monitored by the Unibyte Explorer, showing the state, transaction and information flow of all participating units. These business case specific “SmartQueries” are also automatically generated out of the workflows

When adding blockchain to IT systems one ends up with business integration, allowing Cross-System/Cross-Blockchain business processes, e.g. machines safely and autonomously placing an order for their replacement parts to arrive. Supply chain management, approval workflows, financial transactions and condition based payments, IoT data collection, health management and asset management are just a few examples of areas that can be empowered by Unibyte using blockchain technology.

ICO

Unibyte acts in the intersection of two growing markets: the $27 billion business integration market growing 11% p.a. [Gartner] and the blockchain technology market rising by 61,5% p.a. [Statista].

By staging their token launch in early 2018, Unibyte aimso to accelerate the development of the framework and the road to total product readiness. Support for more blockchains and off-chain systems by creating the needed adapter for the platform will be added, as well as auditing more templates that empower blockchain usage in business processes.

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