Platform uKit That Uses AI on Blockchain Starts ICO

Published on 22 Feb. 2018

Online shopping is trendy and widely used phenomenon these days. According to research data, 80% of citizens from developed countries, born after 1980, hold at least one device with Internet access at hand 24/7. So it’s not strange that people who practically live in the global network with high probability choose online shopping as the first way to purchase goods and services.

The number of commercial websites is progressively increasing. Consider the fact: in 2009, the appearance of American business website was 45% and reached the astonishing 71% in 2017. This is because the majority of entrepreneurs recognize sites as their primary channel of attracting customers. ApprovedIndex research, carried out last year among British small and medium enterprises, showed that launching a website allowed companies to increase turnover for 45-62%. 

So we’ve agreed that any business needs a website. And now, let’s talk about the specific website that is required to sell goods or services, the high conversion website. Big businesses can adjust their sites to particular users and increase conversion with the help of artificial intelligence. But what should the mass market do as this innovative technology is too expensive for it? Website constructor uKit can help here.

AI for Website Conversion

UKit Group (known as uCoz Web Services before 2017) has a 12-year experience in creation and support of website constructors. 3.5 millions of active websites are located on its platforms. This is more than valuable practical experience and a real working product – things that are absent in the majority of companies carrying out ICO.

At the moment, the company is working on developing AI for websites that will allow increasing conversion by using machine learning and Big Data analysis and adjusting pages to the users’ tastes. AI prototype for website redesign (uKit AI) already exists. It can compile websites from scratch and adapt to the specific user. Now the company needs to project a data storage system, purchase source arrays for AI learning in DMP and data storage systems for information about Internet users, exploited by big advertisers. To accelerate the release of uKit AI 2.0 the company starts ICO.

ICO and UKT Token

After the ICO campaign, uKit plans to release a token of ERC-20 Ethereum standard which will serve both as utility token and reward in the system.

The information on what is liked and disliked by various audiences on the websites is the basis for the further learning of the platform’s AI. These are impersonalized data, similar to Google Analytics. Sharing this information with the system people will receive new tokens from the reserve fund, which they will be able to use as payment for AI work on turning visitors into clients.  Or users can temporarily rent tokens or sell them on the inner marketplace. Also, the team considers the possibility of entering the outer exchanges in the future, but it will happen after the main ICO.

UKit tokens will have a vital practical implementation: every 10 thousand tokens ($200, the price of UKT is $0.02), their owners will receive 0.001% of the general capacity of the platform’s AI (provided they participate in the learning process). Further – more: the ownership of 10-30 thousand tokens provides the owners the possibility to use free hosting and constructor for their websites eternally, and UKT tokens won’t be burned.

UKT token holders will have a right to vote (1 UKT – 1 voice) on the possible featuring of company’s constructors. This way, all the decisions on the functional development of uKit services will be made and then implemented transparently (assured by blockchain) for all users.

What is even more important, blockchain will be used not only for voting but rather for creating the whole ecosystem - for providing people with the possibility to mine new tokens, i.e., receive them from the reserve fund as a reward for contributing to the AI learning.

A transparent reward system on blockchain is necessary, because the system will grow with data accumulation, and the size of reward will increase since it is tied to the system volume. One can find detailed calculations in the corresponding part of the project’s website.

The main stage of ICO during which the team plans to sell 500 mln UKT tokens has started on February 19 and will last for two months, until April 19, or until the goal of 10 mln dollars is reached. The minimal sum planned is $2.5 million, all unsold during the ICO tokens will be transferred to the reserve fund.

One can find the detailed information about token distribution and uKit platform in general on the ICO website, in the project’s White Paper, or in the official blog on Medium.

Disclaimer: this is a sponsored story; it does not provide any recommendations on investments.

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