• After the sale completion, Ubricoin will be the standard payment for health services in the country and perhaps the world.
• It will also be used to participate in all Ubrica projects e.g sokojanja,com to purchase local products.
• Ubricoin will facilitate the creation of an incentive program to reward excellence in education, research and practice
•  It will build financial incentives for traditionally marginalized hardworking people who contribute knowledge for the betterment of humanity

Ubricoin is an ERC20 token, built on Ethereum blockchain protocol. As an ERC20 token Ubricoin is a distributed application that operates as:

1. Crypto-currency
2. A utility token in Ubrica ecosystem.

As a utility token, Ubricoin is not an equity instrument such as a share of common stock. A utility token gives you access to products and services. A Ubricoin represents future access to Ubrica ecosystem. There are two types of utility tokens:

1. Digital coupons,
2. Tokens that provide users with access to its decentralized forum (i.e., products on Soko Janja, health services acting as health insurance).

Ubrica will issue tokens for development of its projects and this allows the token holders to access different Ubrica products or services in future.  Participants in the Ubrican community can buy the token and use them to access Ubrica services, products and produce. The main purpose is to get access to the Ubrica ecosystem, but not to gain profits or dividends. Token holders will be enrolled on Soko Janja at no cost and get medical services at a URCCs without paying cash. The main value of the token is access to Ubrica’s proof of stake protocol tokenization platform.

As a crypto-currency, Ubricoin will operate just like fiat currency (e.g. dollar, Kenya shillings), but without intrinsic friction inherent in fiat currency. You can pay for goods and services with it without incurring charges from international exchange rates. Consensus by a network of computers all over the world verify transactions on Ethereum blockchain. As such, there are no middlemen, or organizations involved in validating transactions. Computer validation of transactions is by far, safer and inexpensive, because it does not incur costs such as human resources and fees that would be involved running transaction through a third party trusted human organization, say a bank. Furthermore, it is far easier to corrupt a human being than a computer. Humans are also prone to manipulating supply of money and prices in their favor. A programmed computer validation system helps to overcome problem associated with trusted third party human organizations.

In the long run, Ubricoin will appraise in value, just as common stocks do. In this way, Ubricoin can be regarded an investment instrument. We have seen other cryptocurrencies raising in value tremendously.  This intrinsic power for crypto-currency increasing in value (such as what occurred with bitcoin), gives them characteristics of precious metal, such as gold. As you know, price of gold changes in time, although gold itself is not like water, that is generally needed.

In a similar way, Ubricoin can serve as store of value. Although land and buildings are good stores of value, generally, they cannot appraise in value in a rate anywhere similar to cryptocurrency. Reason: cryptocurrency market is global. Market for land and buildings is local. In fact, going forward, land will have progressively decreased value as most of the business go online, and as production technologies become available in Africa. Today, land in Kenya is the most valuable investment because our technological investment is rudimentary. As our use of technology improves, fewer and fewer people will be interested in land, as they can create a lot of value in a very small space (such as what is happening with Ubricoin. We do not need much land to create Ubricoin).

Universal health is not something that one rolls out. Many of our people are not interested in learning or understanding what is universal health. The government’s approach to universal health involves getting people to pay monthly contributions to the National Hospital Insurance Fund (NHIF). This approach is faced with two distinct difficulties: (a) the people working in the  government are indifferent about where people get money to contribute to the Fund, and (b) the people working in the government are oblivious of the micro-economic problem of prioritizing family budget.

People working in the  government are indifferent about where people get money to contribute to the NHIF

A huge problem in Kenya, is that unemployment rate can be as high as 90%, for people graduating from university, in certain disciplines. Millions of market-ready people cannot find jobs. It is extremely naïve to ask someone without a steady income to make monthly contribution to a fund. From where would he/she get the money to pay.

As you can see, people in government talking about universal coverage, without talking about increasing access to high quality well-paying jobs is the greatest nonsense of the present time. Indeed, because of this problem, it is practically impossible to scale NHIF. This means that NHIF is already fully saturated, and cannot grow beyond where it is right now. NHIF is already covering people with steady income, who are less than 20% of Kenyans. The rest of the population is in subsistence farming or just barely making it through the day.

People working in the government are oblivious of the micro-economic problem of prioritizing family budget

Imagine a woman who makes a living selling vegetables at the local market. In a good day, she makes 500 shillings. In some days, she makes 50 shillings, in many bad days she is not able to sell anything. Guys from government come around and tell her: “Woman give us your 500 shillings. We will put it away for you so  that we will pay for your medical care when you get sick. We will even pay for your family.”

She has to feed her family at least twice a day. She also needs to buy uniform for her kids going to school. She has pay school fees…..and the list of needs continue. Maslow (1943), taught us that people will meet their immediate basic needs before they can think about meeting a needs in a distant future. Insurance is for meeting needs in a distant future. Even if the lady in this examples agrees to contribute to NHIF because of coercion by people in government, it is quite obvious she will in a future date have trouble prioritizing NHIF over school fees and food for her children.  She will default her payments.

Solution

Soko Janja helps to overcome both problems. Soko Janja is very interested in how local people make money. Indeed, the sole job of Soko Janja, fully developed, is to help people create wealth. About 14 million families in Kenya do not have access to health care. Should Soko Janja reach the 14 million families, and help put money in their pocket by facilitating market for local produce, products and services, then they would not have problem contributing to the health fund.  As an electronic market, Soko Janja can set money aside into a health fund. Such money will go into a smart contract that will pay medical services. Pooled smart contracts from millions of families will operate as health insurance.

More about

• Soko Janja at http://sokojanja.com
• Ubricoin at https://ubricoin.com

We used the heuristic approach to come up with the pricing of the Ubricoin.
Heuristic approach is a practical method, not necessarily optimal, but sufficient
for reaching the Ubricoin immediate goal.