UBRICA NEWS

Smart contract

 
Picture of Ivyonne Kimani
Smart contract
by Ivyonne Kimani - Tuesday, 19 June 2018, 4:18 AM
 

A smart contract is an agreement whose execution is computerized and automated .It excludes middlemen and its transactions are transparent. Smart contracts have defined obligations for both parties that are automatically enforced. Under smart contract UBRICA has created a smart reward program an incentive program to reward excellence in education, research and practice.

The incentives will be inform of airdrops or brevis. Brevis are small units of ubricoin and are convertible to fiat currency. The reward system will give incentives to practitioners in all stages of knowledge production. They include teachers in primary schools, secondary schools, universities; researchers and post university practitioners. There is a criterion against which every practitioner will be rated. The rating will be done by peers and consumers. Tokens will be issued to people who demonstrate good professional practice, work ethics and good customer service. This program will be of benefit to all professionals (e.g. doctors, academics, engineers, architects, beauticians, hoteliers, etc.). The incentive program will ensure that consumers receive high quality services and products. The suppliers will in turn receive tokens for good work.