UMI: Official Plans for the Future

Dear friends, The UMI cryptocurrency keeps growing by leaps and bounds. It’s going really well now: with the number of users growing, infrastructure developing rapidly, staking generating coins at the rate of 25% a month, and UMI’s buy order book on exceeding $800,000. But what about tomorrow? Many users wonder what our plans for the future are. What will happen in 2, 5, 10 years or more? What do we want to achieve? We’ve prepared this article with answers to all your questions — specially for you. Spoiler alert: tomorrow’s going to be even better than today.  We’re happy to present official plans for the future from the UMI Team. 

Platform Scaling and Future Outlook

To understand the future outlook, we need to consider the project’s strategic vision. UMI was not created just for fun — we created it to offer people new opportunities to improve their quality of life. These include, in the first place: 

  • Free, safe and instant financial transfers.
  • Ability to “print” cryptocurrency in your smartphone at the rate of up to 40% a month, with no complexities or risks. 
  • Provision of new solutions for the business and economy in general.  It’s possible because UMI is a fully-featured blockchain platform that can execute smart contracts of any level of complexity. It can be used anywhere, in any domain of human activity. 


But — first things first. UMI is based on the Proof-of-Authority technology that provides for the fastest transactions and operation of master nodes. The latter, with super-high requirements to operating speed and network capacity, are given to prominent UMI partners and teams that are actively engaged in promoting the project. Currently, the network’s capacity is about 4,500 transactions per second, with the latest tests showing a value of up to 5,000. It means we’re faster now than at the start (just to remind you, our ceiling value was 4,369 transactions/second). 

In the near future, we intend to continue network optimization in order to bring its capacity to as many as 10,000 transactions per second. It will bring us as close to VISA and MasterCard as possible and, beyond all doubt, will spark interest in the crypto community. 

In fact, 10,000 transactions per second is far from being the final frontier. According to the technical department of the UMI Team, we still have room for response improvement. We plan to use tools such as Kubernetes and optimize certain points in terms of programming languages and smart contract. Accordingly, in the future (maybe even within a year) we have a chance to improve capacity to 1 mln transactions per second. No one has reached such capacity so far. 

It’s true that UMI network now runs 2,000–5,000 transactions per day and this capacity may seem “excessive”, but our project has been around for 4 months only and already has over 40,000 active users who make transfers within the network. In the future, UMI’s scale of operation will change. We will try reaching new audiences to take over the new heights. That is when the high speed will come in really handy as it will guarantee that UMI network will not face something Ethereum is currently facing or Bitcoin has faced multiple times — they have fallen victim to their own popularity, with transactions becoming too slow and too expensive. The high network capacity will ensure that UMI transactions are always free and instant regardless of the load on the network. 

Validator Node: 

As we’ve announced, we’re soon releasing a desktop wallet for users that both allows you to submit/receive transactions and operates as a validator node. It’s a fully featured node that will support all functionalities and features except block generation (this functionality will remain with master nodes only). By installing the wallet and launching the validator node, users automatically improve security, stability and reliability of the UMI network.

In fact, all interested users will be able to support the network without any complications. You don’t have to navigate to GitHub, understand the code and settings, etc. Launching a node will be as easy to do as installing  Microsoft Word, Telegram or a game. Obviously, the algorithm we use creates no extra load on your PC. It’ll just work in the background and will be  invisible for you. 

PoS Integration:

The next major step in terms of technical development is the addition of the Proof-of-Stake (PoS) consensus algorithm — the most popular in the crypto industry. It may seem strange as we use the Proof-of-Authority algorithm, but we’ll explain everything. The UMI network will continue to efficiently use Proof-of-Authority while PoS integration will be an additional protection measure. What’s the point? In case of any problems with master nodes (and, consequently, with PoA operation) PoS-nodes will come online. 

Obviously, in this case transactions won’t be as fast since you’ll have to wait for multiple confirmations, but still, it guarantees network security even in the most unexpected circumstances. If all master nodes suddenly go offline (clearly, chances of such an occurrence are slim to none, but we need to consider all possible risks), nothing will happen with the UMI network. It will keep operating and processing transactions as usual, just a little more slowly. While the system operates using PoS, master nodes will have the time to resolve problems and go back to normal PoA-based operation. 

PoS nodes will be owned by the same users who installed the desktop wallet and launched the validator node. Theoretically, it may be millions, even billions UMI holders all over the world. 

Fully Featured Offline Transactions: 

We’d like to note that technically all transactions in the UMI network are created offline. It’s basically completely analogous to a cheque book, should you need a clarification. Therefore, in reality UMI can operate without the Internet connection.

Submitting transactions online is the most convenient way to go at this time, but it’s not the only one. For instance, you can submit a transaction in a text message using your cell phone. 

In case you’re wondering, the length of a UMI transaction is 150 bytes. It equals 1,200 bits of data.

Standard length of a text message is 1,120 bits (140 bytes). It means we would need to send 2 texts.

Our plans include a transaction variant signed secp256r1 to support legacy chips in bank cards that would actually fit a transaction into a text message.

However, it’s not limited to text messages. In fact, UMI allows you to use a validator node to create any transaction offline (i.e. without the Internet connection) and send it to the network by any available means — via Wi-Fi, Bluetooth or even a radio wave. We’re currently looking at various options. So if humanity loses the Internet connection as a result of a global cataclysm, the UMI network will be able to easily “evolve” and keep operating in new conditions. 

Legalization and Audit:

Our goal is to comply with applicable law at all times. It’s important that both people and authorities understand that UMI is not a product of the black market — it’s a completely legal tool. 

Therefore, we’re working on obtaining a legal document that would legalize UMI cryptocurrency in the European Union and confirm that UMI is a decentralized payment system with a completely open source code and is not a security, security token, utility token or something else. It will open up new opportunities to use and integrate UMI. After this, we plan to work on legalizing cryptocurrency in other jurisdictions. 

Moreover, when cryptocurrency passes the “endurance test” — once it reaches the milestone of 1 mln users — the UMI Team or one of our partners will register technology patents and obtain certificates. 

In a related move, we’ll soon address the issue of auditing UMI’s source code. We’re going to entrust this task to credible organizations who do not just audit “on paper”, but are reputable professionals. We’ve drafted a preliminary list of a few auditor companies we would like to collaborate with. We’re mostly leaning to the firms who audited RandomX code for Monero: Trail of Bits, X41 D-SEC, Kudelski Security and QuarksLab. 

DeFi, DApps, DAO, DEX: 

Look at the hype surrounding the DeFi sector. If you’re not familiar with the topic, in brief and in simple terms: DeFi or decentralized finance are blockchain-based financial instruments, services and apps operating as smart contracts. It’s a very promising sector, but still very raw. To begin with, it has huge security problems and a strong dependence on the Ethereum network that makes all DeFi transactions too slow and expensive due to its massive overload. 

UMI, on the other hand, is a new-generation cryptocurrency that, among other things, is a fully featured blockchain platform capable of generating and executing smart contracts at any level of complexity, including DeFi protocols. In the future, we plan to join this sector and support development of big DeFi projects that will be faster, safer and more multifunctional than the ones based on Ethereum.

We also intend to deploy a UMI-based family of decentralized apps (DApps) and decentralized exchanges (DEX). Our DApps will be the same apps you’re using today, with the only exception — you’ll be confident of their honesty and security as they won’t belong to any particular company. It’s a completely decentralized product. For instance, you’ll know exactly that your personal data is not collected or passed along to third parties. You’ll be confident that no one will withdraw funds from your account, etc. It’s the same with DEX. It’s a completely decentralized trading platform where you can trade in UMI and other cryptocurrencies, without fearing for security while also enjoying protection from all problems characteristic of centralization.

Moreover, we plan to deploy multiple projects based on DAO principles (decentralized autonomous organizations). In the simplest terms, DAO is an independent decentralized company that is in fact a multifunctional set of smart contracts that allow users rather than management (partially or fully) to run the company. It offers vast opportunities since in essence ensures actual democracy that is backed by cryptographic code rather than words. 

Future of Staking and Smart Contracts

Let’s continue discussing UMI-based smart contracts as applied to more specific points such as the current key concept behind the coin. 

As you know, there are two most popular areas in the crypto industry: 

  1. Staking used by PoS-based cryptocurrencies. It’s also called forging or PoS-mining. It’s basically similar to mining, but does not require powerful equipment. Speaking of traditional mining, it’s gradually fading into the background. 
  1. Perks of decentralization feature various smart contracts where people cannot influence the source code, change conditions, chances, etc. 

This is why our team decided to design a unique system — staking based on a smart contract. It would allow us to unite two popular areas and substitute the PoS model with a faster and safer PoA algorithm. UMI staking is exclusively based on the smart contract. Please, remember that you can review terms and conditions and principles of operation in our Whitepaper.  

Staking based on the smart contract allows you to generate new UMI coins 24/7 while earning up to 40% a month — without the need to install nodes, configure software, etc. To start staking, people don’t need to understand the technical aspect. It’s very convenient for regular users with basic computer or smartphone skills who just want to turn on a ready-to-use “coin printing machine” and don’t want to assemble it from scratch. 

We intend to promote and popularize UMI staking all over the world to bring as many people as possible into our community. We believe that staking based on the smart contract is ideal for encouraging users. We’re confident that, as the community grows, we will one day see a structure that will generate earnings of 40% a month. 

However, as we mentioned above, our smart contracts won’t be limited to staking. Since ideas of decentralized finance (DeFi) and generation of coins by users on certain blockchains are now gaining popularity, we’re considering creation of various UMI blockchain-based tokens, including stablecoins, as one of our next steps. 

In other words, we’re encroaching on the DeFi market by allowing for the creation of both tokens and smart contracts of various types.  Users can then trade in these tokens and earn on price fluctuations. One of the options is also staking of such tokens based on a smart contract. It means that any user, not just the UMI Team, will be able to create a UMI-based token with a price, liquidity and staking conditions. They will also be able to create a community around it. You must admit it’s just awesome. 

We also plan to issue a multitude of specialized multifunctional smart contracts that could change a lot of everyday things, including the established commerce sector. UMI is capable of replacing/improving the popular services of eBay, Avito, OLX and other platforms by providing users with a more secure, rapid and efficient way of making deals. 

In the immediate future, we intend to design HD wallets and a universal smart contract for various trading platforms. HD wallets will allow you to easily create addresses without the private key while the smart contract will act as a guarantor in a deal freezing UMI coins until closure of the deal, among other things. With this functionality, UMI will be easily added to online stores and service delivery platforms. Smart contracts will make trading and cryptocurrency integration even more secure and convenient. Most importantly, though, it will offer innovative solutions and new possibilities for the commerce and service delivery sectors that are currently non-existent.

Our plans include the issue of a smart contract for crowdfunding (fundraising for projects) that will allow us to create an easy-to-use No Reliance system with a guarantee that no one will con anyone.  It’s because in this case people, in a manner of speaking, are not needed in this system — all actions are based on a smart contract with mandatory and complete adherence to all preset conditions. Notably, this crowdfunding will be quite different from the services offered by the existing platforms. Right now, people simply raise money/cryptocurrency to be invested in a project. What we offer also includes staking that will allow the project to earn even more. 

In fact, staking opens up lots of opportunities in crowdfunding. For instance, staking allows us to deploy a system that will allow people to get back, let’s say, 70% of coins invested in crowdfunding in case of success or even failure. There’re special algorithms to this end that we will soon start to actively use in real-case scenarios. 

Additionally, we and our partners from the ISP Club intend to issue crypto cards that are being developed right now. These will be traditional VISA debit cards that can store UMI. Cards will allow you to use UMI to pay in the nearest store or cash out cryptocurrency in a nearby ATM. It will work with the usual terminals and ATMs — where VISA cards are accepted, UMI will be accepted, too. You will be able to connect your card to Apple Pay and other similar services. You will be able to buy a TV, table or a loaf of bread for UMI. Anything. 

In a nutshell, using UMI tomorrow will be as easy, habitual and convenient as using bank services today. But that’s not the most interesting part. The key perk of UMI cards is that coins stored on your account are also used for staking. As a result, the balance on your VISA will always grow — at the rate of 40% a month. No bank has ever offered such an opportunity and is really unlikely to ever offer one. 

We also plan to release various types of NFC wallets specifically for contactless payment that can be used to pay for goods with cryptocurrency in any terminal. The Faster Payments System will allow the seller to immediately receive payments in fiat money — in 15 seconds.  This is maximum. Obviously, NFC wallets will also allow using coins for staking. 

In a nutshell, we’re actively working on various projects in order to offer people an alternative system of financial payments along with a passive increase of their balances. In general, the main cause for aversion to many blockchain projects is that they are hard to understand. In fact, users don’t really see how this or that project can solve their problem. We’re the game changers — we look up to things everyone is used to, but we also present them in a more refined form. UMI resolves pressing issues only, doing it as clearly and efficiently for everyone as can be. 

Let us speak aside. In Finland the government has recently conducted a very interesting experiment — they introduced basic income for 2,000 randomly picked unemployed participants who received an unconditional monthly basic income of 560 euros. Just for being a citizen of this country. Unemployed participants spent their income on food and other basic needs. If an unemployed person started working, they could spend the income on traveling, big-budget purchases, etc. Anything they liked. 

Even though the experiment didn’t improve the situation with unemployment in Finland, its outcome was evaluated positively. “The basic income recipients were more satisfied with their lives and experienced less mental strain than the control group. They also had a more positive perception of their economic welfare.” 

This experiment is the role model we want staking to achieve. We want people to generate new UMI coins for themselves, and use them as they see fit. We believe that this is a model of a healthy society where people can live a happy life with no fear of losing everything tomorrow. Finland has already completed the experiment. But we are starting it again and it will involve not only Finland, but the entire world. Staking allows any person to receive a kind of unconditional basic income like in Finland but unlike Finland, it will be paid in the UMI cryptocurrency. But it has a value too. 😉

Geolocation: Where and How UMI Will First Be Developed

UMI intends to conquer the entire world. Obviously, it is impossible to do instantly. And no one needs it –– a smooth development is much more important for any product. Gradual growth and winning new audiences  step-by-step  will make the project more powerful and sustainable. Moreover, all these COVID-related issues distracted people from new technologies. Therefore, the immediate outreach of a large audience is not the best idea. We opted for smooth development which will allow us to get stronger before we enter new markets. 

  • First of all, we need to consolidate confidently our position in the CIS market. Our priority countries are Russia, Ukraine and Kazakhstan. 
  • $1 mln in the buy order book on, which supports the UMI rate, will become a signal that UMI’s liquidity is high enough to enter China, Latin America, Indonesia and India. By the way, we are already preparing for this. Our official website, mobile app and all the other content have already been localized in Russian, English, Spanish (LA), and Chinese. Now all the content is localized in Indonesian. We also run UMI promoting social media in different languages. It is not a poor machine translation, translation only by professional translators. We should also mention that we have already laid the groundwork for entry into the above-mentioned countries. We won’t let all the secrets out, except for the one that we’ve already made useful contacts and reached certain agreements with some partners. 
  • Next, we plan to fully localize the website and all other content in 18 different languages and start reaching other countries and continents. The next in turn are Europe, Asia, Africa, and eventually, the entire world. We would like to emphasize again that we are focused on gradual growth, this is why we are now closely working with CIS countries. 

Current Tasks

Now let’s put our long-term plans aside and talk about the key tasks that we are most focused on right now, at this very moment. There are three of them: 

  1. UMI liquidity. As you may have already heard, we don’t take the funds generated from selling UMI for BTC and through the Crypto-By-Card service. Instead, we use them to create UMI buy orders on to support UMI’s high liquidity and price. Thus, UMI is backed by bitcoins, and, as far as we know, no other world’s cryptocurrency has this experience. In other words, this is a unique case when the team doesn’t take the funds generated from selling the coin, but instead, they spend them on supporting the coin’s price and liquidity. Now UMI’s buy order book is over $800,000 (more than 55 BTC), apart from $200,000 buy orders on the P2P platform. It means you can now easily sell UMI for more than $1 mln with no fear of price drop. Our # 1 task for today is to continue to increase buy orders which ensure the coin’s high liquidity and stability. Today, this is what attracts new users and makes them feel confident. A reliable coin grows faster and easily wins a new audience. Summing up, our number one priority is to fill UMI’s buy order book. In the short term (within 1 to 2 months), we plan to fill UMI/BTC buy order book to $ 1 mln, in the long term –– to $10 mln. 
  1. Large-scale entry into the market. At the moment, the popularity of UMI is growing thanks to our partners from the ROY Club, who bring in new participants to their staking structure. But we are planning to increase the popularity growth rate. A large-scale social media PR campaign will be launched soon. You will see various articles about our cryptocurrency, news and reviews from top crypto-media and other popular resources. This will attract a new audience to our community: crypto investors, traders, crypto enthusiasts and regular people who get interested in new profitable opportunities. All this will help to increase UMI’s popularity and improve its liquidity. This will obviously have a positive impact on all our partners, including the ROY club, ISP Club and In the long term we also plan to get listed to new exchanges. Although some well-known exchanges have already proposed us listing on their platforms, we refused their offers. We’d like to reiterate that we are more focused on a smooth and quality-based growth. This is why the is our general partner and the trading platform where we are building up the community. As soon as UMI gets liquid enough meaning gaining muscles and foothold at the market, it will be listed on other platforms, and, consequently, on Coinmarketcap. This will protect it against deliberate pressure and price fluctuations caused by some traders who just want to make money from changes in price.
  1. Organizing new staking structures. Currently, only two structures –– ROY Club and ISP Club –– generate new UMI coins. As UMI grows, various large communities, cryptocurrency pools, financial project developers, etc. will start creating their own structures and set the conditions as they like. Fortunately, the smart contract for staking offers quite flexible settings. Some organizers will offer their members generous and non-standard bonus programs, the others will use zero-fee transactions and the highest possible reward as a temptation for new members. We are now  negotiating with potential creators of structures. We consider this as one of the key tasks, so we are ready to help our new partners implement their UMI-based projects in every possible way. 

Technical Roadmap 

As a final note, we would like to present our brief roadmap of immediate technical tasks: 

  1. Release a full-node desktop wallet;
  2. Create detailed technical manuals and “how-to” guides containing text and video guidelines on installation, launch, setting and update of wallets and nodes.
  3. Develop and implement PoS consensus;
  4. Integrate HD-wallet;
  5. Create libraries supporting all popular languages and platforms and use them to be easily integrated into businesses;
  6. Integratу  hardware wallets (Trezor, Ledger, etc.);
  7. Integrate accounting systems;
  8. Develop a node specifically for Windows with MS-SQL support and 1C integration;
  9. Develop plastic cards and NFC-enabled terminals;
  10. Create libraries for mobile devices supporting NFC payments;
  11. Add side-chain service: commenting on transactions;
  12. Add side-chain service: sending UMI using email address, Telegram username, nickname, etc;
  13. Add side-chain service: an internal messenger with images and various features support. Telegram or Viber prototype;
  14. Develop and run a developer blog containing technical articles for developers;
  15. Create convenient user support service through Telegram, Slack, and Stack Overflow;
  16. Implement tools for convenient collection and processing users feedback, for example, Reformal; 
  17. Develop new smart contracts. 

This is not the final list. In view of the above, we still have a lot of technical tasks. These are only primary goals, which, however, can change and be modified depending on the circumstances. 

Overall Roadmap

Let’s sum up all the above. In addition to the technical roadmap, please review a list of current plans for further UMI growth:

  • Increase UMI’s liquidity. In the short term, we plan to fill UMI’s buy order book on to $ 1 mln, in the long term –– $10 mln. 
  • Enter the market: launch a large-scale social media PR campaign, get UMI added to new exchanges and monitors. 
  • Organize new structures for UMI staking and encourage healthy competition. 
  • Optimize the network to bring its capacity to as many as 10,000 and then 1 million transactions per second.
  • Release a desktop wallet that will work as a validator node and support the network. 
  • Implement the PoS consensus algorithm as an additional security measure. This will keep the network running even in the event of any problems with master nodes. 
  • Improve the ability of sending transactions offline. 
  • Legalize cryptocurrency and audit the source code. 
  • Create new DeFi, DApps, DAO, DEX products and enter these markets. 
  • Popularize staking in all directions and implement it into mass products. 
  • Create various tokens based on the UMI blockchain, including stablecoins. Integrate convenient features allowing users to create their own tokens and smart contracts based on UMI. 
  • Create HD wallets and a universal smart contract for trading platforms. 
  • Develop a smart contract for crowdfunding and other smart contracts for employment, services, production, and logistics markets. 
  • Release VISA debit crypto card with full support for UMI and staking.
  • Release UMI staking-supporting NFC wallets for contactless payment. 
  • Work on creating a powerful infrastructure that offers an alternative system of financial payments coupled with a passive growth of their balances. 
  • Develop new features, guides, and services: create various side-chain services, start a developer blog, implement new tools for processing feedback, integrate accounting systems, hardware wallets, etc. 
  • Promote UMI in the CIS countries with further entry into China, Latin America, Indonesia, India, and other countries. 

UMI Won’t Stop

As you can see, we have grandiose plans for the UMI project and great ambitions. And we are full of enthusiasm and determination to turn them into reality. UMI is not some small “one-day project” or a product for a small target audience with insignificant goals. We are a growing decentralized community that is determined to go big. Most importantly, we are really good at that. 

Hopefully, we have shed light on UMI’s future plans. There are new highs ahead of us — great accomplishments and achievements. Since the time of writing the Whitepaper, our priorities have changed. We are confident that UMI can be fully integrated into business and change most aspects of society. Employment, services, production, commerce, logistics, and all financial arrangements — all this can radically change with the emergence of UMI. These are our long-term goals to which we are getting closer with each passing day. 

Thus, by degrees, we will achieve all our goals. Thank you for being with us. If you like the article, please clap for it and share it with others. It’s no trouble for you but great support for us. 

Sincerely yours, UMI team

Welcome to the future!