It's better to go with universally accepted concepts on cryptos.
Ummati consists of two parts- a semi decentralized exchange platform with social trading and crowd microfinance capacity, and the blockchain itself.
The blockchain is open to anyone, and the only reason that platform that is built on the blockchain is semi rather than fully decentralized is to prevent trading of assets dealing in interest, gambling, etc.
But you made me realize an important point that I have not addressed- which is how can a consensus protocol function on values determined by a centralized platform?
The answer is that anyone can mine, but by having a provable presence in a semi-decentralized platform built on the blockchain, your mining reward will be much higher.
This means anyone can build a similar system, but it would be necessary for the blockchain developers to accept any changes. Really though, the community is open to anyone since it is open source- just like bitcoin, it is just a choice between consensus or fork.
This brought up an interesting enough point that I think it is worth .01 to your address.