Below is an excerpt of Amity’s summary of the Universal Labs ICO Whitepaper:
What is the Universal Labs ICO?
Universal Labs aims to disrupt the cloud storage industry - the project offers cheap cloud storage solutions through the Ubbey Box product which also enables mining of a native system cryptocurrency and is powered by blockchain technology. User files are encrypted based on the IPFS protocol and securely stored so that nobody else can access them through a designed aimed to improve on the lax security of public cloud storage systems. The project promises no downtime due to the blockchain system, granting users instant access to their files at a rate 90% lower than current competing cloud storage services. Universal Labs will also allow people to earn money by sharing their excess storage space with other users in the ecosystem.
How does Universal Labs work?
Read more here: https://amity.io/blog/universal-labs-ico/
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