Why should you use UPM
UPM´s solution is to create an online presence for our Users where anyone can issue a Digital Promise and track its status through to completion, and to build a history of such promises. But how will the practical use of this concept look like, and what is the tangible benefit?
The Fun Factor:
UPM can be linked to your Instagram, TikTok, Facebook, or similar social media accounts to enhance how you approach even the simplest of issues:
Have that friend in the gang that always forgets to buy his round? Get him to promise to everyone on UPM that he will buy the first round in the pub this Friday!
Promise your kids to buy them the gadgets they want if they get good grades at school.
Friend asking you to borrow your car? Use UPM to have clear conditions of responsibility (I want it back, unscratched, by 9 a.m. with a full tank of gas)
Lending money to family and friends becomes a 5-minute task with clear terms and legal responsibility
Having a party? Ask friends to RSVP on UPM
Significant other ducking out of mowing the lawn or putting up new shelves? Make a promise on UPM!
Put your New Year Resolutions on UPM and publish them to your family or closed circle of friends
Get your partner to finally give you that massage they’ve been promising you for weeks
Since the cost of a single promise can be as low as free for a B2C User (each User will get a fixed number of free monthly promises with upgrades), this makes it easy to create a morally binding agreement on the go, increasing the possibility of a positive outcome and also changing people’s approach to how lightly they give promises and how seriously their promises are taken.
But how will the Businesses benefit from this concept?
Businesses will profit tremendously from UPM. Currently, they are paying hundreds of dollars in legal and notary fees. A legally enforceable and transferable promissory note from UPM will cost a few seconds of their time and less than a dollar (just a few cents in most cases).
Traditional background checks on new customers can now be reduced or, after some period of time, even eliminated. Businesses will reduce the amount paid for their cross border trade insurance just by being able to check a new customer’s history on UPM and knowing that they are dealing with a historically trustworthy person or company (especially in less developed regions where background and credit checks are difficult if not impossible).
Business customers from a number of sectors are already committed to using UPM after launch, including:
• an online cross-border OTC trader of shares and cryptocurrencies (promise to deliver/promise to pay)
• an online e-commerce shop providing credit
• an online education provider (I promise to educate you/ you promise to pay me within x months from future salary — ie a new form of student loan)
• an online gaming company (I promise you 1 month access to the following titles / you promise to pay)
• digital warranty for a new product to encourage buyers to overcome their fears when taking a new, untested product — i.e. to speed up sales and stop them waiting for the first online reviews (I promise that this product will do what it says on the box, and we will give a % discount to the first 10,000 buyers who take our UPM promise)
We expect the number of business use cases to grow exponentially as the use of UPM expands.
