In recent years, the number of Internet of Things (IOT) connections in China have grown rapidly. In 2019, the number of connections reached 5.5 billion, a year-on-year increase of 75.6%, and the CAGR from 2016 to 2019 was as high as 82.4%.

According to forecasts, the number of IOT connections in China is expected to reach 14.8 billion in 2023, thanks to the explosive growth of smart home applications and the large-scale implementation of 5G. More and more devices are connecting to the Internet, and this has provided a solid foundation for a series of networks linking personal IoT devices. Consumers will feel the convenience brought about by IOT-related equipment and systems. However, IoT technology is still in its infancy at this stage, and problems such as centralized data storage risks and imperfect supply chain systems have profoundly affected the development of the technology.

As a structured ecosystem, UCOT combines the latest blockchain technology and 5G communication solutions. It is designed for the next generation of smart IoT platforms, and solves the authentication, security and interoperability problems long associated with supply chains and IoT. This can help companies deal with the challenges of device verification, and help protect the network while eliminating reliance on centralized management. As such, UCOT can provide a reliable environment that can achieve cost reduction, equipment autonomy, platform scalability, operational safety, and network redundancy to prevent network attacks.

UCOT aims to develop a smart IoT ecosystem based on blockchain technology to improve the traceability of supply chains, thereby achieving secure data collection, tamper-proof storage and the sharing of trusted data within the supply chains. The blockchain-based smart IoT network can track supply chain logistics, and use smart contracts to manage commercial transactions in logistics management. All data can be shared in a safe and trusted manner throughout the supply chain.

UCOT is a digital supply chain management ecosystem with 18 international patents and copyrights. Its blockchain has adopted the self-developed UxBFT consensus protocol, which has the characteristics of high efficiency, large capacity and high security. UCOT utilizes the most innovative 5G Narrowband Internet of Things (NB-IoT) and blockchain technology, which can be applied to the next generation of digital smart supply chain systems.

UCOT has made its mark globally by deploying unique blockchain products in 6 areas: “smart agriculture”, “food traceability”, “medical tracking”, “liquor certification”, “cold chain logistics”, and “asset tracking”. Among them, UCOT's world's first blockchain-based photographic "UPhoto" app is a patented product that is trusted by millions. Through the mobile app, pictures or videos can be quickly uploaded on-chain within a few seconds. The signature function provides security guarantees for specific industries and occupations, enhances the credibility of images in these fields, maintains authenticity, prevents plagiarism and infringement, and can be used to organize various competitions without fear of fraud or plagiarism. UPhoto is already available on most major App stores, and everyone can experience the digital transformation brought about by blockchain.

UCOT is committed to research, development, organization and management of resources to establish the next generation of global, easy-to-use and trustworthy smart blockchain products. It will use distributed applications (DApps) based on blockchain and 5G communication technology to achieve a new era of excellent supply chain, as well as the intelligent connection of all things.