FAQ

FAQ

1. How can B-Umbrella protect the users’ personal data?

Since B-Umbrella is aimed at making people feel secure whatever events happen in their lives, the blockchain technology under which we are building our project offers a great chance to protect  our users’ private relations against various threats and vulnerabilities. Eliminating any middlemen from the interactions between the clients and executors, B-Umbrella allows keeping deals and agreements secure and private. Any third party won’t not be able to intrude into the peer-to-peer relations of users since their agreements will be created in the form of the blockchain-based smart contracts. The cryptographically protected digital IDs of the users will be created together with Pangea platform’s team whose SSB and IPFS protocols along with the decentralized secure mesh network will provide B-Umbrella users with the unprecedented level of personal data security.

2. What is the innovative business model of B-Umbrella?

Having no intention to reinvent the wheel, B-Umbrella offers the effective and popular Uber-like sharing business model. The innovative aspect refers to the very security market rather than to a business model: contracting security safeguards via the cross-platform decentralized application is the innovative approach we offer. Besides, B-Umbrella expands the range of the executors of various security services inviting everybody capable of delivering any kind of security services to join the platform. Everyone will get an opportunity to promote oneself as an executor offering some demanded and valuable skills to those who seek protection and security.

3. Why does B-Umbrella outperform the ordinary security providers?

The first and the most significant advantage of B-Umbrella is the anonymity of both clients and executors. Nobody will need to publicly disclose one’s private data while using B-Umbrella DApp. All the transactions related to the security agreements signed via the B-Umbrella platform will be executed automatically by means of the blockchain-based smart contracts. Thus, the pure peer-to-peer workflow is provided. Besides, the B-Umbrella’s cross-platform application will be invulnerable to any kind of shutdowns and interruptions thanks to the server-less architecture (IPFS) grounded in the blockchain technology.

Another advantage relates to the areas and activities where our clients will be able to find the appropriate executors. In addition to the traditional security segments such as bodyguard services, armored cars, corporate safeguarding etc., the non-traditional and even exotic specialties will be engaged. For example, it will be possible to find and hire the white-hat hackers capable of providing various cyber-security services on a freelance basis. Besides, along with the officially registered and licensed security providers, any private person who promotes oneself as a security specialist will be available for hiring since any mandatory licensing is not required to become a B-Umbrella’s executor. The choice and selection of the executors will depend on both the clients’ expectations and the executors’ reputation approved by the feedback of users. Functioning as a segment of the Pangea Decentralized Jurisdiction, B-Umbrella will share the platform’s Peer-To-Peer Arbitration system making any kind of fraud, scam, and spam almost impossible.

4. How can B-Umbrella prove the executors’ reputation?

A special section of the B-Umbrella DApp will be dedicated to the opinions of both the clients and executors. Every B-Umbrella user will be able to match the executors with rating stars. Besides, all users will be able to leave a positive or negative feedback regarding any other service users expressing the satisfaction or dissatisfaction with regard to the executed deals. Thus, B-Umbrella imposes the responsibility for gaining the reputational ratings on the DApp users. Under no circumstances the B-Umbrella’s admins will interfere the users’ interactions losing the neutrality. We propagate and appreciate the self-governance principles inherent in the Governance 2.0 which structure and ideology are perfectly explained by our major partner Bitnation Company (the developer of the Pangea software). Besides, any significant action performed on the B-Umbrella DApp will require a definite amount of  tokens to spend (similarly to the “gas” of Ethereum). Even if such expenditures are calculated in micro amounts, the very fact of spending of tokens will most likely deter unfounded allegations and biased opinions.  In addition, expressing a negative opinion will cost significantly more tokens than praising, that therefore will make users think twice before leaving any negative feedback. In addition to the B-Umbrella’s “native” means of reputation approval, there will be a peer-to-peer arbitration system embedded in the Pangea platform (the detailed description of it is available in the Pangea whitepaper).

5. Why should early adopters be interested in B-Umbrella’s tokens?

Users will need tokens to be able to use the entire functionality of B-Umbrella. Although B-Umbrella’s tokens do not guarantee any future profits to their holders (providing the membership and service fee payment functions, our tokens will work as a fuel for running the B-Umbrella DApp) they will enforce the network effect gradually making the B-Umbrella’s ecosystem more valuable. Tokens will be issued during the token distribution period in a limited amount. However, the initial token offer will not be the last chance to buy BUNT (B-Umbrella tokens) once a special  purchase/exchange token section of the platform will be put into operation after launching the main version of the B-Umbrella DApp. The period between the initial token distribution and the launch of the main version of the platform (approximately in 16-18 months) can alter the value of tokens significantly. Since B-Umbrella offers both a new technology and a socially valuable project, the value of BUNT will be growing in the market most likely. In addition, the algorithm of token circulation within the working B-Umbrella DApp when users exchange the tokens for different cryptocurrencies implies the deficiency of the tokens freely floating outside the DApp. The correlation between the increasing number of the B-Umbrella users and the decreasing amount of tokens circulating outside will inevitably lead to the growth of the tokens’ value. This process should incentivize the early adopters to purchase BUNT tokens during the distribution period.

6. Who might be interested in using the services of the B-Umbrella DApp?

Everyone who needs protection and security will be able to use the services. Often people cannot afford the officially registered security providers due to some financial or legal constraints. Besides, the ordinary security providers offer quite a limited scope of services for which they have some appropriate licensing. For instance, a business person whose relations with partners or customers are sensitive to security concerns would be able to find and hire a freelance safeguard via B-Umbrella keeping the security agreement in secret. Paying tokens or cryptocurrencies for the executed service within the platform’s facilities s/he could prevent the details of the security agreement as well as the very fact of the deal against publicly disclosing.

Another side of this coin relates to a wide range of the executors of various security services who will be able to find clients via B-Umbrella. Once the registration as an executor on the B-Umbrella platform does not require any mandatory licensing or official authorization, the vast variety of security specialists all over the world would get a chance to be employed via B-Umbrella. Military and police veterans, martial artists, white-hat hackers, wildlife guides and survivalists, psychics and mentalists, private investigators, lawyers, social activists, and many other non-trivial security specs will be able to find extra job opportunities through B-Umbrella by publishing their informally created self-promotional resumes in the relevant DApp’s section. Thus, the executor section of the B-Umbrella app will offer another employment exchange for those who face problems with ordinary official employment services.

7. How does B-Umbrella relate to the self-governance and decentralization movement?

The contemporary crisis of the old world order is obviously apparent: the Nation States are gradually becoming powerless in fixing the nowadays challenges in the form of terrorism, drug trafficking, hybrid warfare, impoverishment of the population, environmental contamination and so on and so far. A new type of social governance should appear in order to make society more flexible, safe, and viable. The decentralized self-governance paradigm should eliminate any kind of intermediaries between power and people. Blockchain offers the technological means empowering each individual to stay independent whatever situations and events happen. The network-like organized society providing horizontal peer-to-peer interconnections is less vulnerable to the traditional state-induced threats and problems. The most comprehensive and well-developed model of Governance 2.0 based on the blockchain technology is represented by our general partner Bitnation Company (the detailed description is available in their Pangea software whitepaper). Such a society, however, requires new forms of executive power where actors and structures are to be established with the people’s free choice. B-Umbrella is going to become one of such new forms in order to provide self-governing societies with the affordable and independent security services.

8. What is the functionality of the B-Umbrella’s tokens?

In brief, BUNT (B-Umbrella tokens) represent the membership and service-fee-payment functions enabling users to make safety agreements, pay for DApp services, and execute any transactions necessary to interact within the B-Umbrella DApp. Thus, BUNT are simple app coins that can be recognized neither as equity nor as property share. They will work as the means of interaction between the users and the DApp providing the “fuel” for running the system and protecting the DApp against spam at the same time. Despite the number and variety of services available within the B-Umbrella application, the only universal BUNT tokens will be needed to get access to the entire functionality of the DApp.

For instance, placing a sign for a job (a request for a particular security spec) will cost a client some definite amount of tokens while the registration, making a personal account, and lurking through the clients and executors boards will be free. The whole structure of the B-Umbrella platform will be divided into two sections: a free general one accessible for everybody via a mobile app or a web browser and a paid professional section accessible for those users who have tokens on their personal B-Umbrella accounts. It will be made in order to mitigate some possible scam and spam activities.

Besides, the paid section will be working under a blockchain layer providing the security and anonymity mandatory for p2p deals. The only difference in accessing various paid services will be in the number of tokens necessary to enter and use a particular service. The BUNT tokens will be issued during the token distribution period in a limited amount (please check our Whitepaper for details) in order to provide both funding the B-Umbrella project further development and to reserve tokens for early adopters of the DApp who can eventually use all available services at the initial price.

In addition, a special reserve fund of tokens will be created and locked until the main version of the B-Umbrella DApp is put into full operation. The fund will be integrated to a purchase/exchange service where every user will be able to buy or exchange tokens over time at the average market price available at that moment. Besides, each user will get a new crypto wallet automatically created at the stage of registration. The balance of each new wallet will not be zero but equal to the minimum amount of tokens necessary to perform some elementary actions on the paid section of B-Umbrella (to place a request for a security spec, for example).

Insofar as the number of B-Umbrella users is not limited, the emission of BUNT tokens should not be limited respectively. However, the unlimited emission of tokens will most likely affect their value in the course of time. Therefore, the reserve fund of tokens for further dispense through the purchase/exchange section of the DApp will contain the limited but sufficient amount of tokens for at least a two-year-long period of operation of the DApp. Besides, the algorithm of token circulation within the platform will be designed in such a manner that all tokens collected from users as a service fee will be redirected back to the reserve fund.

9. What is the procedure and the amount of B-Umbrella token distribution?

The total amount of BUNT to be created is 1 500 000 000 BUNT that is equal to 7 500 BTC (BTC, ETH, USD, and EUR. The rate of the B-Umbrella tokens is 200 000 BUNT for 1 BTC.

The total amount of BUNT will be distributed in the following proportion:

600 000 000 BUNT  (3 000 BTC) — distributed among crowdsale participants during the token distribution period;

400 000 000 BUNT (2 000 BTC) — locked in the reserve fund for further distribution via purchase/exchange section of the B-Umbrella DApp;

250 000 000 BUNT (1 250 BTC) — locked for rewarding both B-Umbrella and Pangea teams;

150 000 000 BUNT (750 BTC) — locked for rewarding the third-party advisors, partners, promoters;

50 000 000 BUNT (200 BTC) — locked for the token distribution cost compensation;

50 000 000 BUNT (300 BTC) — locked for the post-launch promotion of the project.

Thus, the total amount of tokens for sale is 600 000 000 BUNT (3 000 BTC), that is the soft cap to be desirably reached during the 30-days token distribution period. The hard cap we are accounting on is 150 000 000 BUNT (750 BTC). The minimum possible amount to prevent the project from collapsing is 20 000 000 BUNT (100 BTC). It means that the first stage of the B-Umbrella DApp development (MVP or an alpha version) will start when the hard cap is reached. If the amount of BUNT dispensed during the token distribution period is bigger than the minimum possible amount but smaller than the hard cap, the token distribution session will be automatically extended until the moment when the soft cap is reached, but not longer than for 60 days. When the soft cap is reached, the token distribution stops automatically. It means that no extra amount of BUNT will be offered to the public audience until the main version of the B-Umbrella DApp is deployed. In the case we fail the token distribution when even the minimum possible amount is not reached, all collected ETH will be returned to the crowdsale participants.

After the successful token distribution, the B-Umbrella project will be relocated to Estonia via the Estonian e-Residence system. Now the project is developed by the team of Flix s.r.o. Company officially registered in Prague (Czech Republic).

10. Why do you use blockchain for your application?

We strongly believe that the blockchain technology is the future of the Internet. The so-called Web 3.0 will inevitably be built upon the distributed information principle. The information must not depend on the despotism of the major internet service providers. Our mission is to create a business instrument and a means of communication invulnerable to any interruption of data centers and server shutdowns. The very nature of our application implies the ultimate security of both our users’ personal data and the transactions where the data is involved. Besides, blockchain represents conducting of settlings in cryptocurrencies achieving the unprecedented level of personal liberty and independence from any National banking system. Together with Bitnation whose Pangea platform will be our basement, we are approaching the self-governing borderless societies where people can gain the instant freedom of choice whatever aspect of their life is addressed. Thus, blockchain is not a fancy trend we follow, but the imperative need in order to create our decentralized application strictly in accordance with the principles of personal freedoms.