Recapitulation of UNIRIS PROJECT AMA event held at AMA LOVERS CLUB.
Date: Wednesday, 28th April, 2021
Time: 13:30 UTC
The UNIRIS PROJECT team was represented by @Vpm_01 and @akshaykumarkm9 who judiciously shared with us detailed knowledge and information about UNIRIS PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourselves and your background, also introduce the team working on UNIRIS?
ANS: I am Akshay, currently Head of R&D, leading the blockchain and biometrics research.
I started working with Uniris right after my studies
I am Vishnupriya, currently managing Marketing and PR at Uniris.
More about our team below 😎
Sebastien Dupont (CEO @Uniris): Previously responsible for 2 of the largest projects at Orange: Identity (100M users) and Mobile Banking in Africa (€4 billion turnover)
Nilesh Patankar (COO @Uniris): Previously Head of Barclays Digital Payments Technology, ex-CTO PAYBACK (100M users), Head of Software Development for MasterCard Payment Processing Platforms.
Christophe Bruno (CSO @Uniris): Ex-Special Forces in French Military - Technip Security Manager (Niger)
Peter Scanlon (Advisor @Uniris): Mozilla's Ex-CMO, Director of Google Creative Lab (Building the Open Source Community)
Anne Lange (Advisor @Uniris): Board Director - Orange, Peugeot Holding, Pernod-Ricard and Imprimerie Nationale, Executive Director Innovation Cisco and Founder of Mentis
That’s all about our team at Uniris.
Q2: Can you introduce UNIRIS, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: Uniris is a startup based out of Paris, France. It is an Indian-French startup. The Uniris promise is to provide access to all technologies with a simple touch of your FINGER while protecting your identity.
The Uniris team has developed an ultra-secure and tamper-proof blockchain and biometrics technology that allows you to replace any password, key or other authentication devices by simply reading inside your fingers.
4 years of research and 12 strong international patents endow Uniris with the technological attributes that the predecessors have lacked - scalability, speed, reliability and simplicity of native biometric recognition.
Uniris is solving the 3 critical problems that other blockchains dont fully solve (combined)
Security: Most of the blockchains are compromised by 51% or 66% attack, where, if the malicious nodes are more than 51% or 66% the network is compromised
Uniris has taken this to the next level by mathematical proof (already a patent) that even at 90% malicious nodes in the network the Uniris blockchain (ARCHEthic) is still secure
Scalability: Uniris has proved and patented the ability to scale > 10 million TPS which for other blockchains is impossible.
Sustainability: Uniris blockchain (ARCHEthic) consumes 3.6 billion times less than Bitcoin, 60000 times less than EOS, hence being an Earth-Friendly solution. This was one of the main reasons why we got selected to Paris Olympics 2024.
Q3: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: Feb 2017: Tech & Legal work begins
Sept 2018: Alpha Crypto Chain
July 2019: Yellow Paper Season 1
July 2020: Successfully raised money in pre-sale to fully build the project
Feb 2020: Got certified to be part of major sporting events in France mainly Paris Olympics 2024, Rugby World Cup 2023, etc...
March 2021: All the 14 patents got approved in US, China, India and EU.
ROADMAP UNIRIS: Blockchain & Biometrics
Uniris is aiming to involve dapps & smart contracts ranging from Decentralized identity to IoT to Fintech...
The project has been in existence since 2017?
Yes, the technical work and 14 patents, its research was all started from 2017!
Q4: But then the presale was conducted in 2020, what contributed to the wide gap?🤔
ANS: The pre-sale ended in July 2020, (pre-sale started in Nov 2019)
The huge technical work and patenting took a lot of time
We wanted our technology to be peer reviewed and we did not want to jump into the ICO bandwagon with a flimsy white paper.
That is the reason we are trusted in our community today.
Q5: Can you briefly describe your PARTNERSHIPS so far?
ANS: We have our partnership with some of the leading bodies and institutions in Europe.
Uniris X CSF: The French Ministry of Industry’s CSF (Strategic Committee of the Security Industries Sector) has certified Uniris to be part of organising the major sporting events in France like the Paris Olympics 2024, etc...
Uniris X CNRS: CNRS (National Centre for Scientific Research) is the national body of France involved with research. Uniris in the very early days of its inception partnered with CNRS and is still partnering with it.
We have also partnered with
Uniris X Ecole Polytechnique: The leading engineer school in France.
Uniris X BPI France: French Public Investment Bank.
Over and above this, Some of the partnerships are currently in stealth mode and we will be announcing them soon😀
Q6: Can you give an overview of your Tokenomics, and the UTILITY of the $UCO Token?
ANS: Uniris tokenomics takes the best of all the other blockchains and is based on the universal principle of supply and demand. The balance of the supply and demand is maintained to provide a healthy ecosystem. Here are the two ways Uniris manages the same:
CONTROL SUPPLY: Limit the offer - 10 Billion UCOs ONLY. Control distribution - only private and public sale tokens available for trade. Programmed deflation - destroy part of UCOs resulting from transaction costs.
CREATE DEMAND: E2E integrated services platform powered by biometrics, scalability provides endless use-case possibilities, certified for secure access to international events like Olympics 2024 and Rugby World Cup 2023.
As far as the price of UCO goes,
for example, considering an event such as the Paris Olympics 2024, which alone brings together 8 million people and knowing that the maximum number of UCO exchangeable on the market over this period will be 75% (7,5 billion UCOs), we thus obtain:
(10 million)^1.5 = € 31.6 billion, i.e. a valuation per available UCO of €31.6 billion / 7,5 billion UCO ~ € 4.2/UCO
The price of UCO in Private sale was 0.006 euros now it is 0.21 euros (35X in 9 months).
2nd Segment: LIVE Questions
Q1: 🌻What will be done if someone manages to spoof a fingerprint? How does The Uniris biometric device work?
ANS: The biometric data from inside one of our fingers will generate several cryptographic keys that will never be disclosed and using which our digital identity will be encrypted. Only the person capable of regenerating one of these keys will be able to decipher their digital identity and hence prove their identity.
The private keys are not only generated from finger print, but also the internal venous network and internal finger structure. Even though there is a damage on the fingerprint the internal venous network and the ultrasound of the finger is enough to generate the private keys
Uniris biometrics devices will soon be able to be incorporated with any smartphone, laptop, pc, etc… and will be available at a very very low cost as cheap as 20-30$ per device.
Q2: ♦️If Uniris blockchain will compete with Ethereum Blockchain. what is the difference between these blockchains and why Uniris is better? Do you have any strategy to get the attention of users who prefer Ethereum blockchain?
Uniris VS Ethereum
Ethereum is compromised with 51% attack, Uniris network is not compromised even with 90% attack
Uniris consumes 320000 times less energy than Ethereum
Uniris can handle 10Million TPS, Eth can handle on 15TPS and 10000 for ETH 2.0 Max
Q3: Like you said earlier on twitter, having a large data is no longer an advantage but a liability. Knowing fully well that, to use the uniris platform, the user will have to make use of his fingerprint which is a very important human data.
You have promised data safety, YES! But how can a layman confirm that our data is save for real?
ANS: Firstly, we use the finger vein biometric information and not fingerprint. Secondly, we use crypto-biometrics and not scoring biometrics. What that means is, we don’t store biometric information to compare with it later. All the current biometric systems are based on scoring of the pattern provided with the pattern stored. This means that the system has the user’s biometric information and hence there is a risk of data privacy being invaded. In our case private keys are generated from the finger vein information and the keys are used as the asymmetric pair of the public keys. Hence the private keys only get used for encryption and are never stored in the system while the corresponding public keys are used for decryption. Thus our system is kind of ZKP (Zero-Knowledge-Proof) without any risk to private data since the private data is not stored at all. Hope this answers your query 😊
Q4: What strategy is used by your Project to attract new users and investors and retain them in the long term?
ANS: Uniris tokenomics is designed taking into the best the demand, supply, staking and burning of UCOs all in favour of the investors, whether it be short-term or long term.
DEMAND is huge: E2E integrated services platform powered by biometrics, scalability provides endless use-case possibilities, certified for secure access to international events like Olympics 2024 and Rugby World Cup 2023.
Controlled Supply: Limit the offer - 10 Billion UCOs ONLY. Control distribution - only private and public sale tokens available for trade. Programmed deflation - destroy part of UCOs resulting from transaction costs.
Staking: Investors can stake UCOs for 2/3/5/7 years with a high APY so that the value of UCO increases and also the number of UCOs investors hold also increases
Burning: Programmed burning helps in maintaining a good price of UCO no matter the crypto-market condition.
Q5: Who can you classify as being qualified to be a miner on the Uniris platform? Is it necessary for a miner to own a mining rig to start participating in mining and what is the minimum PC requirement that a miner need to have?
ANS: Very interesting question 🙌🏻 Anyone can be a miner on Uniris. We are truly decentralized which means you don’t need to own a mining rig to start participating in mining/validation. You can even mine using low budget PCs. 4 GB RAM would be a little less but look at Intel NUC PC as a minimum requirement PC. It has 8 GB RAM and 500 GB HDD. Our core aim was to be inclusive and the whole design of the consensus is meant to be truly decentralized.
Q6: While going through your whitepaper, I observed that Uniris has 12 strong international patents. Informations like this has a way of increasing users confidence in your project . I'd like to read more concerning this information, so how can I know more about these achievements?
As we mentioned the research started way back in 2017. We wanted to file the patents and provide them to the community to protect from possible hostile forks. The blockchain remains open-source and patents are fully available to the public blockchain for use. I am providing a screenshot of the patent filing information that is available in the public domain. Hope that helps.
Follow Us On Our Various Social Media Communities For More Update;
Telegram : https://t.me/uniris
Facebook : https://www.facebook.com/uniris.io/
Twitter : https://www.teitter.con/unirislife
Linkedin : https://fr.linkedin.com/company/uniris
Reddit : https://www.reddit.com/user/Uniris/
Medium : https://medium.com/uniris
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