A welcome from Michael O’Bernicia, founder of the UCT Token project.
Warm Salutations to One and All.
Welcome to the home of UCT Token and UCT Cash, the first currencies of Universal Community Trust [UCT], the genesis of which was more than a decade ago.
In the summer of 2010, having come to understand that freedom is impossible under a debt-based financial system, I declared UCT into existence at a meeting of the founding trustees in Nottingham.
During the meeting I pledged create a private, credit-based financial system under UCT jurisdiction, utilising the long-established mechanism of creating credit with commercial paper [ie. promissory notes and the like].
The first major step towards achieving that goal was the creation of UCT jurisdiction, which was established on 21 June 2012, when more than fifty UCT Founding Trustees ratified the Treaty of Universal Community Trust, thereby also creating twenty five autonomous sovereign micronations within the British Isles.
Each micronation consists of a Sovereign Community Trust [SCT or Anarcho-Nation] in a specific region of Britain and Europe, which contains Private Family Trusts of UCT community members, made up of Grantors, Trustees and Beneficiaries of all demographics.
However, the jurisdiction created under the international law of treaties was further solidified legally by the establishment of a Memorandum of Understanding between Universal Community Trust and the UK Government in the spring of 2013, which laid out the uncontested aims and objectives of the UCT Treaty, including provisions to create and issue our own currency.
The first incarnation of our credit-based financial system concept was called the Permanent Credit Facility, and was intended to be a depository for promissory notes, which UCT members would use to create lines of credit to pay for both public works and day to day domestic existence. For various reasons we were not able to roll this out.
We then began several years of independent research into developing our own cryptocurrency, when the industry was still in its infancy and nobody really knew for sure how the markets were going to treat Bitcoin if it ever became fungible, which it gradually did over the next five years, thereby giving rise to Ethereum and other blockchains, as well as the now burgeoning DeFi markets, upon which it is now relatively easy to exchange unlimited sums of crypto for fiat currency.
After considering several cryptocurrencies created and run by other people and organisations as options for the first UCT currency, we realised that we already had the committed team of developers, coders, marketers, legal advisers, banking consultants and business people required to create, launch and maintain our own ERC20 assets on the Ethereum blockchain. The concept of UCT Token, and the UCT’s own utility token, UCT Cash, was born and the wheels of their fast-tracked development were rapidly set in motion.
This was largely made possible by the launch of the Dodo exchange platform in February 2021, which allowed us to use their state of the art technology to create 999,999,999,999 of each of the ERC20 tokens, UCT Token and UCT Cash, during May 2021, which were immediately confirmed as exchangeable assets by Etherscan. Subsequent tests have revealed the tokens to be functioning properly within the Dodoex interface, as well as with the Metamask browser wallet and the Ledger Nano S hardware wallet.
What makes UCT Token completely unique in the marketplace is they are issued when perfected Common Law liens [non-judicial damages counter-claims] are exchanged for UCT Token at the value expressed in the instruments themselves [GBP£, US$ etc], on a 1-1 basis. In other words, if the lien is worth GBP £20 million, the holder can exchange it for 20 million UCT Token.
Furthermore, the lien creditors will each be required to add to or stake a minimum percentage in UCT Token Liquidity Pools on the Dodo exchange in the first 12 months after they exchange for UCT Token. However, no or limited fees will be charged in the pools, in which UCT Token will be paired with UCT Cash, as well as other decentralised currencies such as DAI, WETH and WBTC. The first pool is due to be launched any day now, so keep your eyes peeled for all the latest updates.
As if that isn’t enough to whet the crypto appetite enough, I have also agreed in principle with an ex-banker to bring his foundation’s private bank, wallet and fully functioning payments system under the jurisdiction of Universal Community Trust [incorporating BEEP Pro on Steroid 4.0].
In the likely event that this comes to pass, the means to receive, hold, spend and exchange UCT Token and UCT Cash will be self-contained within UCT’s ecosystem, save for our interaction with the Ethereum blockchain, Dodoex and their integrated marketplaces.
Nevertheless, we are already planning to rapidly develop a UCT currency on our own blockchain, which we intend to launch on our own private exchange, using encrypted UCT wallets that are hooked up to UCT debit cards.
If you haven’t already, make sure you sign up for the UCT Token newsletter to keep up to date with all the latest developments.