Q&A with Universa CEO Alexander Borodich

Hi, everyone. Today we will show this video with the answers to your most frequent questions, you have sent to us, and we are going to make such videos quite regular. So, I think in every four or five weeks we will shoot the video with the answers.

So, the most common question from you question from you guys, is – “What is the official statement about the development of published pilots, all the projects with Novotrans, Tunisia, Alpha-Bank, Blockchain.aero and UnicornGo, etc, etc, etc.”
So, first of all I would like to stress that actually such projects of digital transformation for such large enterprises as Novotrans for example or for the banking industry or the whole country of Tunisia is actually enormously complex. And in this case it may take many years to complete not only the pilot but the project itself. And of course, we are sharing through our news, we are sharing the progress which has been achieved and in all those projects which allowed us to make it public.
So, for example, last month you saw that Universa Hub Tunisia launched the digital dinar using our Universal Digital Currency technology, and it’s one of the first projects, who utilize the CBDC technology from Universa. And it’s a huge achievement for the whole Tunisia. It doesn’t… It’s not only the digital currency which we are actually piloting there. We have several more technologies according to the roadmap to digitize, to digital transform and to bring digital services to Tunisia. So, Tunisian project is enormously active, up and running. We are preparing the new services for the National Blockchain, which was delivered at the beginning of the year into Tunisia from the Universa through the Universa Hub Africa.
Then the Blockchain.Aero is also is up and running, and Bartini is still moving forward with their flying cars, and they would like to use us as a technology in the communications among all their flying objects. So, we will be the low-level infrastructure which will be used and utilized to help them to fly. Alfa-Bank has tested our technology and has proved that actually it is fastest as we actually told them it is. It’s like 5 to 25 thousand transactions per second using the smart contracts for interbank settlements. So, they checked it and they are still playing out with a lot of technologies, so we don’t know, will they use especially our technology in their next projects or not.
The same with Novotrans. Novotrans still trying to get to the blockchain with their projects. Unfortunately for us, they changed their top management, and this project currently postponed, even shifted. Probably, we would be able to create the infrastructure, we planned with them, but if not, we will use the same technology with other logistics and transportation company, with whom we are currently in very very intensive negotiations. So, we may… we still not yet considered Novotrans as failed pilot, but it’s like a postponed, frozen project. But it’s unfortunately, currently it’s not moving forward as we expected.
And in general, I would like to stress it again: such huge digital transformation projects are taking away longer than we have expected And when we expected that “ok, we can complete such projects in like a five–six month”, but it will take currently like more than a year to complete each of the pilots we have like, for example, in “ROSSETI” in Udmurtia last year in July we have announced together with Udmurtia at Innoprom in Ekaterinburg, and still we are…, still it’s like one year and three months has passed but we’re still moving this project further and would be able to achieve the planned results not earlier than the March–April next year. So, it’s like 18 months to complete the project. It’s way-way longer than we have expected, it’s true.
So, what we can do, we can actually create a table of all officially published projects with the current status I think in the next, in our next Medium post just to make it clear which project has been launched as planned, which were frozen, and which we consider as failed. Or, at least, as you know, we don’t know the status of the project. Sometimes it depends on our partners, not on us. But, anyway, we were not able to move it through.
But in general, usually in our pipeline it’s more than ten new projects every month, which we are discussing, and about 1–2 projects which we’re actually trying to complete using our developers and development resources and architects to provide the digital infrastructure for them. Unfortunately, each and every project, such kinds of projects started from NDA. I know you hate that word, and what we are not able to reveal neither the name of the client, nor the nature of the pilot before they would like to openly post it to the press or to have any kind of announcement. So, we have to get their approval to each and every announcement we would like to make, and, unfortunately, before any visible results when the pilot is getting to the end, it’s not that easy to get it, so everybody would like to show the successful pilot, successful projects, and, so, we both you as a community and we have to wait till those completed projects to be able to showcase the advantages of our technology.

The next question – “Does Universa have any competitive advantage in offer and the technology to the Central Bank digital currencies and stable coins?”
Yes, Universa – one of the rare providers of the solution which you may start using exactly like a plug-in to your system, and you will have Central Bank digital currency centrally metered, fully, in full control, to be able to add smart contracts on top of each and every banknote, digital banknote. So, for example – so you can make the special colored coins, money for, for example, welfare, for the kids – money which they will be able to spend only in schools etc, etc, etc, any kind of logics on top of the banknote might be added. And, of course, it’s enormously fast, so the peer-to-peer transfers, the remittances, international transfers might be done through the Central Bank digital transfer mechanism enormously easy, fast, cheaper, it’s like ten times cheaper, hundred times faster than it’s currently done. I do believe that Central Bank digital currencies – is the one of the next big thing for the next couple of years, and a lot of countries are playing, really playing with the piloting CBDC, and I think it’s a good market opportunity for us to integrate universal digital currency as a tool to one of those several countries who would like to pilot it with us And we have 180 countries and we are currently targeting five or six of them to deploy this mechanism. And I will try to keep my fingers crossed just to get at least one country, one country converted next year. So, I would consider this as a huge, as a huge step forward if we would be able to provide our technology to the Central Bank who will use it not only in pilot but in general as a CBDC technology. But currently if you check the market, there are not so many competitors and not so many competitors do understand that the CBDC is definitely not the crypto currency, and it should be done in another way as the bankers and financial people would like it to see, and we have created such mechanisms for them. So, we would be happy to show all those advantages and to show to those countries who would like to pilot CBDC as a technology, to show all the advantages that Universa have. So, let’s keep our fingers crossed, one country per year would be extremely good, good achievement even for us. So, we currently have like, you know, five–six potential warm leads who are discussing with us how it’s possible to create. It’s not yet pilots, it’s still negotiations, so, we are at the very-very beginning stage to discuss it.

“Which of the current large projects is furthest along and when can the public learn specific details of successful and failed pilots?”
It has been answered before. So, we have several large projects in place currently in several regions, mostly in Africa and Southeast Asia. And we would be able to reveal the all details, we will be allowed to reveal, I think in our Medium posts, but anyway, as soon as the pilot is getting to the success, like, our counterpart who initiated the pilot, when they are ready to publish the results. Not so many failed pilots would like to be published, so I think that we can consider this as the attempts. So we are piloting and if the client, our customer would like to… publish the results, on that day they would be revealed. So we cannot control it from our side, we are just providing the technology, we are providing the resources, the development teams, we integrate everything together, we showcase how it should work, we create from everything, from infrastructure till the front and back and mobile apps etc etc etc, all inside of the package should show it to the clients. They can accept it and reveal it as a successful case. In this case you will see that it has been done utilizing the Universa as a technology.

“Universa has UniChat, UniPayments, Daocracy, CBDC etc – (are they) the wishes of various customers, or the market insights of Universa where customers still have to be found for?”
We are creating the ecosystem where the common, most frequently asking solution might be ordered from Universa and will work on top the Universa Blockchain. And UniPayments and UniChat, there are such MyDocuments and Daocracy, there are small pieces to this ecosystem, when you can start your own decentralized company, then you can use it for digital signature each and every document, you can create the history for the photo documents, you can use the message and application to send the money, to send the contracts, to get the contract signed through the Universa. Later on, to use it as an escrow service, both, for example, to digitally, fully digital process of selling real estate might be done using this technology, and we do believe that it will be done digitally, hundred percent digitally in several years from now. So, we are preparing this ecosystem to be able to sell it as a package to the large clients, because large clients still asking us to provide such type of the technology, so we’ll actually make it available for the public as soon as it’s done.

Next question: “What’s is the main role of transaction tokens for developers and companies we are working with?”
When you need to store any kind of information at the blockchain level, you need the special key, and this key is your actual transactional key, so you are actually paying for the transactions. And that’s the reason why you do need the transactional tokens to be able to pay for the transactions, at the global level, in any country, you will need those transaction packages when you bind transactions. And if you are building applications, any kind of applications on top of Universa, you have to buy those packages of transactions and in terms of transactional tokens and then to spend it and then to spend it for each and every transaction which you would like to write to the network. And for us it is the very very simple process: wherever you are, you would be able to get this transaction, packages of the transactions, and then just to use them also in digital way to make your application on top of Universa work.

The next question is: “What strategies should the Universa apply to make the Universa more valuable?”
Guys, the answer is pretty simple: we are creating the ecosystem of services and solutions on top of Universa, which will require our clients, both private and enterprise clients, to pay for the transactions. So, we do believe that the more transaction we will have, the more valuable the Universa will be.

“When will the swap be out of beta?”
It’s more or less out of beta now, I think in January we will remove all the barriers. But even now you can actually swap to any from UTN to UTNP, from UTNP to UTN, and you can also do it with HyperTokens of Bitcoins and Ethers (if you need to), please, check, it’s there.

The next question: “Could you declare more information regarding the private networks? How will it affect the demand of UTN?”
The private network also needs to pay for the transaction, so we have the special model which way they are paying for the transaction anyway, and, so they have to order the back of the transactions and then use it inside of their private networks. So, if it’s a project completed by Universa, so you will definitely, we will definitely ask to pay for the transactions. And if you have launched your own network on top of the Universa open source technology, of course, it won’t be the case.

“Can you implement your product in my company? In the real economy?”
Yes, of course, please contact us, we will give you the best project managers who will find the way how to digitally transform your company, and we will create the project which will definitely reduce the costs, and will increase your profits. Because the general idea – all those digital transformation is to reduce the current costs, to remove the mistakes done by us, humans, we are humans after all, we do a lot of mistakes, so digitally it’s a bit less mistakes and the processes are faster, and it’s definitely, there are a lot of areas where the blockchain as a decentralized technology might be used to make that processes faster, cheaper and more effective.

“Does the fact that the company has Russian roots affect prospective cooperation with developed market in a negative way?”
Come on, we, the Russian developers, still the best, one of the best developers in the whole world. In blockchain, artificial intelligence, VR … they are at the top of the top, the best of the best developers. And we are very proud that we are using such excellent minds who are actually helping us to create this technology. It’s nothing bad with that, it’s just proper way to deliver the such large software projects utilizing the Russian developers. So, when you see it’s Russian developers involved, you might be sure that the project is good, the quality of the project is enormously good. So, we would like to have it as good in terms of quality as possible, that’s why we have a lot of Russian developers involved into this project.

“What Russian laws form the basis for digitalized issues of Universa smart contracts?”
First of all, we are still waiting for the digital assets law in Russia. It should be, it’s coming, it’s coming, we think it would be in place since the next year, and in the next year it would be the law which will declare what’s a smart contract, the digital assets, and will allow us to use it in the real economy as, not only as the technology process application on top of this technology.

“Does Universa follow the current events in the world that can help those countries which might get cut off of Swift?”
First of all, we can… we have the special application for intrabank settlements, as fast as we can, 25 thousand transactions per second, enormously fast and enormously cheap. And currently several banks are trying to understand how to use this interbank settlement mechanism which might not help you to avoid the Swift, but it might be an alternative, the digital alternative which may help you to move the funds among the network of banks, and we do really think that several bank consortiums will play with this technology later on, evolving from the Swift and other old-school mechanism to the blockchain as the technology behind the interbank settlements. And yes, we are discussing with several countries those mechanisms.

“Will Universa enter the real estate market?”
Universa as the blockchain technology can not get to the real estate market but the application for tokenization of real estate market will definitely… we will definitely put a lot of efforts to tokenize whatever might be tokenized. Tokenization of real estate is one of the, you know, very very interesting area, currently from the legislation it is not that easy to make it, I mean legal, for you to allow to have one square meter of property and to have the full rights of this one square meter just to be able to share it among friends, to get the dividends on top of that. Currently, it’s not yet even possible to make it happen, but we do believe that even those outdated processes will be digitized, hundred percent digitized, and, of course, we would like to be the part of this shifting from paper economy to the digital economy. Yes, we do believe that tokenization of square meters is huge wave of moving the large capitals among the markets. So, you would be able to have your one square meters in Zurich, one square meter in Singapore, one square meter in Rio-de-Janeiro, then to get some profits of that and then to actually send it as a gift for the New Year to your best friend. And I think it’s quite early to have it in place like next year, but in 3–4 years we will definitely see such shift until that tokenized real estate.

“How long will it take before Universa will grow into a large-scale project?”
We are large-scale project right now, because actually the network is there, the mainnet is there, you can utilize a lot of services on top of Universa: as UniChat, MyDocuments, smart contracts, Universa Digital Currency etc, etc, etc, POS terminals. So, we are large scale project, but we are going to be bigger than that, be bigger than that, we are going to be global project with the global applications in different regions, and we are targeting Africa, Southeast Asia and Latin America as our markets, where we would like to deploy the countrywide solutions for payments, for digital history, for labeling the products, and to create the digital history of each and every product at the country level or the continent level etc etc. And we will definitely try to grow as fast as possible at those markets, because the opportunity window is quite narrow and we would like to move faster and faster every single day.

“How soon the world will finally adopt and implement technologies like the blockchain?”
It’s happening, it’s happening right now, right now the world is adopting the blockchain. Several countries has started to use the blockchain for piloting even currencies like CBDC. China, for example, is one of the best examples, because it’s huge! If China will use CBDC, that means, I mean, all the counterparts will definitely use the same digital currency too. Because, I mean, it’s cheaper, and faster, and better, and safer, I mean, a lot of advantages of digital currencies will put us to the situation when we will shift from paper money to digital cash. And in this case that should be technology behind that and probably, hopefully, we will keep our fingers crossed, to be among those providers of CBDC technology for the market. You may see that a lot of good pilots, successful pilots completed with the blockchain among the countries. So, just check the news, the world has finally adopted blockchain as the technology. Probably it’s still not yet adopted cryptocurrency, but blockchain has been adopted, and currently a lot of projects implemented across the globe.

“In 2017 there were expected 100 nodes added early. What are the plans now?”
As soon as the volume of transactions of the node level will increase, we will definitely add more count, we have the huge queue of those who would like to have nodes and we will open up the doors I think at the end of next year.

“What are you going to do with a lot of UTNP tokens stuck on the Cobinhood address?”
What can we do with that, if you think we should do something with that just let us know, if you have any advice, because we, I mean, we as Universa we can do nothing with that, but if you think that there should be required some actions from our side, just let us know and we will proceed. Because we are trying to do whatever is better for you.

Next question: “What is your view on the community automatically initiated by starts in Universa Blockchain company?”
I think that the only thing we have in common is our community common belief into that the blockchain as a technology lead the next wave of the technological revolution, if you’d like me to put it this way. The digital transformation will utilize the blockchain technology, we believe in that, you believe in that, we are together believing that we are a very very small bunch of people who do believe that such type of the technology will drastically change the landscape of the world: from the currency which will definitely shift from paper money to digital cash, from the old-school documents, contracts in paper format, we will definitely switch them to the digital form with the digital signature, the robots will talk to robots, the robots will order from robots using the smart contracts. It’s a huge economy among the devices in IoT etc etc. All these things we do believe is our nearest future, so we are creating the technology behind that and you believe in us, so we are trying to get it to the level where all your hopes and beliefs in this technology will become true. So, we are trying to not only to dream about that, we are trying to deliver the products which might be used and currently are used especially in that shift to transform the old-school processes and to digital ones utilizing the Universa as a blockchain. So, we are happy to have you here as a community. We are trying to keep you tight and you know, we have a lot of people who are actively involved into community building and our chats. Of course, we would like to increase the community organizing the meetups next year. We had only one meetup last year – this year –, and we will definitely increase the number of meetups across the globe in 2020, for sure.

“Have you ever thought of selling the company once you reach the certain progress of Universa, or do you consider this the work of your life – as experienced venture investor and business angel?”
As experienced venture investor and business angel I do consider that the Universa is the global technology and you cannot just, I mean, to sell it before it would be, I mean, totally adopted. But, anyway, you may check even Sergey Brin and Larry Page, they actually step down from ruling the company after 20 years of making Google better and better every single day, so we have just started, so we have a huge path to the top of the mountain, so we have to move step by step, more and more, to make it greater and greater. Because we have just started the blockchain, still the very very new technology. If you will compare it to the first days of even Google or Apple, we are like in kind of more or less the same situation. And the road, of course, would be bumpy and it would be some upside-downs and it’s ok. We, as humans, we do a lot of mistakes, for example, we were, I, personally, thought that the pilots will be completed faster but they are not. We did several mistakes on this path through last two years and definitely we will have mistakes as humans, we will definitely do something wrong. But, anyway, what we do, we are actually moving fast and we would like to have Universa… to have Universa great. It’s a full-time, that’s full-time job for me and I’m happy to have my hobby and my dreams about the digital transformation as my full-time job.
So, I am happy to do what I’m doing, I mean, it’s in case if I… I think it’s the best type of work you can actually get in the whole world, when your hobby, your dreams become your full-time job. You are enjoying every single second discussing the digital future, creating, outlining the projects for the clients, developing these projects, presenting these projects, sharing the success with teams who are trying to utilize the Universa technology too. So, we are, as team, and I, personally, really enjoy what I do, so I think for the next many years I would be happy to move Universa forward to higher and higher levels of not only adoptions but as a company. I would like to make it huge, I would like to create the ecosystem which will help any country and any people across the globe to utilize the best digital technologies in finance, in digital assets, in digital asset management, no matter whether it’s property digital, real estate, digitalized real estate, or it’s a digital history of your car, your medical history, etc etc etc. A lot of things would be digitized, we would like to create a set of tools which you would be able to use, not only developers will be able to use, but the people, real people will be able to use. So, you will see the value as we see it currently in our heads, deploying one by one those solutions as UniChat, UniPayments etc, etc, etc, MyDocuments. Please, check all those solutions they’re done at a very high level of quality, and we will move it forward.
Of course, if someone will ask me to sell the Universa today for the several billions, I will think about that, but I would like to create the company which will earn those billions to the mutual interests of all of us and your, and you, too. And in this case, the greater we are, the more successful we are, the more successful you are. Let’s move it together, if you can help us, if you know how to utilize our technology at your company, at your region, if you know someone who can help us to grow, please, contact us at our chats, we will be happy to work with your leads, we will be able to make them as warm as possible. We’ll be able to present our solutions countrywide, companywide, we will share several presentations at our new website quite soon to get your attention what might be done at smart city level, at enterprise level and financial Institutions. So, you are pretty… you’re welcome to share those presentations to anyone who is near the blockchain as the technology and would be happy if we can complete any projects together.
So, please, consider yourself as our ambassadors. Please, share the knowledge about the Universa Blockchain, and we will definitely move today’s digital revolution for tomorrow. So, thank you very much.

I think, it’s all done for these questions, currently. We will come back to you in several weeks with answers to your upcoming questions, just do not hesitate to ask us. We would be happy to answer and to share whatever we know.

Thank you very much. Peace. Bye.


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