A good number of the population would have at one point or another subscribed to and used a rental service. Services such as those being offered by Airbnb, Grab and Uber are good examples of services in the sharing economy. The concept of a sharing economy is one that is not new, it’s been in existence over the years and proposes a world where everything is common. The sharing economy makes it possible for us to use such services as those we can not outrightly purchase, we may need the services of a car but we don’t own one or to lodge in a hotel but we can’t afford to buy the hotel. Or we might have cars or houses we are not currently making use of, the sharing economy enables us to lease these properties and earn an income in return or to pay and use them. The sharing economy industry has grown into a billion dollars industry with further projected growth in the coming years.

Current Problems

Just like every other economy, they are problems inherent in the sharing economy that has either hindered it’s growth or negatively impacted the level of services being offered to users. The sharing economy companies earn revenue from the commission they charge by acting as middlemen between the users and service providers. As a result they are always looking for ways to maximize profit and as such charge high commission which result in high cost of transaction. Users find it difficult to trust these companies with their private information. The centralised nature of these companies makes them vulnerable to hacker attacks, or attacks from within. This leads to the problem of confidentiality, in the effect of a data leak, users are left at risk of having their private information fall in wrong hands.

Uchain Proposition

A sharing economy that is void of the problems is very crucial to the overall success of the industry, a global community where users are free to share all sorts of services without the influence of middlemen. A decentralised system that promotes the exchange of values between users who renders services and another group of users who make use of such services. Uchain intends to create such an autonomous system that is borderless, secure, transparent and doesn’t cost an arm and a leg.
The blockchain, through it’s peer to peer protocol enables and enhances an inclusive participation of individuals and services in an environment that is free from external influences, transparent and secure. It creates a borderless and limitless sharing economy. By eliminating the influence of middlemen, it creates a trust and confidentiality among peers. Users will no longer have to worry about the security of their personal data since every information will be stored on the blockchain immutable technology. Uchain will encourage participation and income maximisation for users who provide services on the platform by reducing transaction fees to 20% to what is currently obtainable in the industry.

UCN Token

The exchange of value among individuals on the network is facilitated by the Uchian token, UCN. It is an ERC 20 utility token designed to enhance the payment of services and as an incentive tool for users on the ecosystem. In order to use services being offered by other peers in the Uchain platform, users will have to pay for such services with the UCN token and those who provide the services will be paid for their services in UCN token. Transaction and As delivery fees will also be paid with the UCN token.

For More Information

Website: https://uchain.world/
ANN Thread: https://bitcointalk.org/index.php?topic=4654581.0
Whitepaper: https://uchain.world/css/img/pdf/uchain-whitepaper-dbe5656d6c.pdf
Telegram: https://uchain.world/
My Bitcointalk Profile https://bitcointalk.org/index.php?action=profile;u=2193404

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