What is Unido?
Unido is a technology ecosystem and platform that addresses the governance, security, and accessibility challenges inherently found in decentralized applications. The Unido platform and ecosystem enable individuals and businesses to manage their crypto assets and capitalize on DeFi in the most seamless and friction-free way possible.
Unido develops consolidated, easy-to-use solutions that allow enterprises to manage and invest their idle assets in a way that meets their security and compliance needs.
Unido offers a suite of crypto custody solutions for individuals and businesses based on a state-of-the-art fragmented private key signing engine, allowing distributed transaction signing at the blockchain level and providing a governance framework over crypto ownership.
What is Unido App? Where can I download it?
The Unido App is our Wallet, downloaded on both the Apple App Store and Google Play Stores.
It is the first business-class crypto wallet that features a high level of security and easy-to-use workflow for individuals or an entire team's governance over their crypto assets.
The Unido Wallet is a secure crypto wallet that uses Core's MPC security and holds user assets such as the UDO token. It helps users efficiently manage accounts, investments, and keys.
Apple App Store: https://apps.apple.com/us/app/multipac/id1444261005
What is PAC Blockchain? How is it related to Unido?
PAC Blockchain founded the proprietary Unido Wallet and is continuing to build out the infrastructure of the entire platform.
Established in 2012, PAC Blockchain is an end-to-end professional services company for software and application development, project management, and technical consultation with a specific focus on blockchain technology. PAC Blockchain & Digital Advisory (and related agency businesses) create software and applications that help enterprises realize their online and mobile services potential. PAC currently has active research and development in design, programming, marketing, cyber security, finance, and business modeling.
What are Unido’s products?
There are 4 core products to the Unido platform, including EP (Enterprise Platform), Insto (Custody platform for crypto service providers), Core (key management and transaction signing technology), and DeFi Vault (multi-signature enterprise wallet).
EP: helps enterprises such as crypto-native firms and asset management firms seamlessly and securely manage their assets. A highly efficient application creates a bridge for businesses to interface with DeFi networks while remaining compliant with the licensing and regulatory requirements that govern traditional financial institutions.
EP is a powerful set of tools and gateway for organizations of any size to enter the decentralized capital markets.
Insto: is a full-stack cryptocurrency bank-in-a-box. Banks, brokers, exchanges, and custodial service providers can use it to offer their clients crypto banking facilities similar to those provided by traditional banks. It can also be used as a stand-alone crypto bank and integrated within a legacy fiat system or a centralized CRM, as needed.
Core: is a patent-pending, proprietary key management and transaction signing technology developed by PAC Blockchain. It uses an innovative private key obfuscation algorithm that breaks up private keys and securely encrypts and shares the key with multiple users. Core reduces the chances of the key being lost or stolen, and it allows various members of a wallet or account to approve or refuse transactions as needed.
DeFi Vault: is a multi-signature (multi-sig) enterprise wallet that acts as a DeFi vault to store, manage, and invest crypto assets securely. Unido’s enterprise-grade custodial wallet provides a secure and integrated bridge into several DeFi investment vaults such as UniSwap, Balancer, and Yearn Finance.
What is the difference between Unido EP and Unido Insto?
Two of Unido's core products, EP (Enterprise Platform) and Insto, are undoubtedly different in what they are and whom they target. EP is an enterprise gateway and all-in-one application for crypto custody, management, and governance, while Insto is a fully customizable and secure crypto banking solution for institutions.
But to go even further, EP features advanced governance and compliance controls that empower any size organization to quickly enter decentralized capital markets while remaining fully compliant to your business's licensing, regulations, and compliance needs. EP also features easy-to-set-up workflows and the ability to assign and set up multiple signers for transactions.
Insto, on the other hand, delivers digital asset custody and crypto trading products for institutional service providers and works as a stand-alone crypto bank-in-a-box that is easily added to your institution's legacy fiat systems or centralized CRM.
What does EP in Unido EP stand for?
EP is an acronym for Enterprise Platform.
Is Unido EP just one product or a set of products?
No, it is a suite of tools to help organizations and businesses integrate seamlessly into DeFi and decentralized capital markets. The EP platform uses several products in the Unido suite, including Enterprise Crypto Banking Suite, DeFi Vault, Core, governance tools, analytics and reporting, enterprise multi-sig wallet, and more.
How will Unido help enterprises with regulatory compliance?
Unido is completely compatible with corporate governance regardless of your specific needs and features enterprise-grade security and governance tools built into the platform.
Unido's web-native application uses a multi-user wallet management system that allows anyone to create, assign, and manage enterprise wallets for their organization. The governance tools on the Unido platforms provide businesses with customers access rights, transfer requirements and are built to reach regulatory compliance regardless of your location.
Does Unido have products only for Enterprise and Institutional Clients? Are there any products for retail investors?
No, Unido can be used by anyone, from retail investors to Fortune 500 companies. Although Unido is better suited for organizations that need security, compliance, and more control over their idle assets, anyone can download the Unido wallet and use our service.
How are Unido Wallets decentralized and non-custodial?
The Unido Web Wallet is a decentralized application (dApp) that is built directly on the blockchain. The idea of decentralization is to remove intermediaries or centralized services into a decentralized system design spread out over a blockchain network. There is usually one place to store data or digital assets in centralized systems, often leaving one entity in charge, i.e., a bank, leaving the permission to use your money only by asking.
Decentralization removes the custodian/guardian relationship to create a permissionless system with a vast array of benefits, such as not having a single point of failure and the ability to control your money without asking anyone's permission.
Unido is non-custodial because our Web Wallet is built directly on the blockchain without using any hardware wallets or closed networks to transact. Unido is sufficiently a decentralized system where organizations of any size can use our platform to achieve sufficient decentralization of their digital assets while keeping them safe with our proprietary MPC signing technology.
Is there any fee to use Unido App?
Yes, UDO must be provided to the Unido Network in exchange for an annual license or platform fee. Every Enterprise user who wants to access Unido products (such as the Enterprise Platform) and Developer or Enterprise who wishes to utilize Unido Core API to develop dApps, must hold UDO tokens. Without UDO tokens, the Core API will reject connections. This fee structure is similar to a license key model, enabling access to both the ecosystem and run applications within it.
There both be a Network Access License for the organizations that use EP and its underlying technology to use the Unido App. There will also be a Consumption Fee charged using UDO tokens to organizations for using the Enterprise Platform, and for 3rd party dApps being built on top of Unido, with both incurring a consumption fee based on their volume of usage.
To enforce security and integrity across Unido, UDO is used to validate every transaction that flows through the ecosystem. Every enterprise client, application, user, and developer validate each transaction by spending UDO, which means that:
Every transaction utilizing Unido technology will be validated and recorded on the Unido network.
Fee payments can be secured by Unido’s proprietary multi-party computation (MPC) key obfuscation algorithm, drastically improving security for transferring on-chain assets.
What is multisig?
Multisig, short for Multisignature, is a crypto wallet technology that requires two or more private keys to sign and send a transaction over a blockchain network. Using this method requires multiple cryptographic signatures, i.e., private keys, to access a multisig wallet.
Unido’s dedication to building business-class solutions for investors, asset managers, and crypto-native companies is evident in its multisig mobile wallet application.
What is key management?
Key management is an umbrella term covering the management, i.e., generation, storage, transferring, destruction, usage, replacement, and any other maintenance activity of cryptographic keys (both public and private keys) in a cryptographic ecosystem.
Depending on the size of a given ecosystem, there can be thousands, millions, or even billions of public and private keys used to sign transactions and secure the wallets in which digital assets such as tokens or cryptocurrencies are stored. Without secure and effective key management, a crypto-system cannot function safely and securely.
The ownership of digital assets comes down to the ownership of the private key that can unlock a crypto or digital wallet. Without a private key — which is required for creating the digital signature that can approve a transaction or prove ownership of a document or message — you cannot prove ownership of the asset, wallet, or document in question.
This is why key management is so important. It is required not only for establishing asset ownership but for approving and signing transactions and securing wallets and the integrity of the overall system.
How is Unido’s multi-sig / key management solution different from others?
Unido Core, the Unido Core API, key fragmentation technology, and secure, effective key management are all critical components of the Unido ecosystem that make it easy yet safe for enterprises to connect to and interact with DeFi platforms and investments. Without these services, the onboarding of new users to the DeFi space would be slow and ineffective. Still, as part of Unido’s mission of bringing enterprises to decentralized capital markets, Unido quickly and effectively bridges these gaps.
Using key fragmentation, our patent-pending and proprietary Multi-Party Computation algorithm act as a cornerstone of our key management system. It differs from many of our competitors, who use different variations of multisig tech and MPC. Unido ensures permitted parties can only access on-chain assets; however, the system has been designed for use by technical and non-technical personnel. It adds enterprise-grade security to any system via an intuitive API that can connect wallets, services, networks, and more to the Unido ecosystem. It also creates a gateway for different methods to interact with and use Unido’s financial services and management tools, making it easy to integrate legacy systems with blockchain-powered decentralized applications.
Unido’s key management system also works with multiple on-chain use cases. This seamless interoperability and easy integration are critical for DeFi applications to onboard users and reach critical mass.
What is the vision of Unido? What are the problems Unido is trying to solve?
Unido's vision is to bridge real-world assets and cryptocurrencies and provide a borderless financial infrastructure that will remove roadblocks preventing the high-scale growth potential of businesses wanting to enter decentralized capital markets.
Unido discovered early on that there are two inherent problems in the enterprise digital asset management and governance space needing to be solved:
A lack of security, governance, and interoperability prevents enterprises from moving more assets on-chain and managing them once they are on-chain.
Crypto Banking Challenge: there is not 1 all-in-one product suite that enables crypto-native enterprises to run their daily operations like traditional banks. Instead, they are forced to use a mixture of hot and cold wallets, DeFi interfaces, analytics, custodial services, and other extraneous tools which fail to provide an efficient and secure solution.
Unido solves these two issues by enabling organizations of any size to seamlessly manage crypto assets in a complete enterprise platform that offers a robust suite of Crypto Banking and DeFi investment tools.