UCHAIN: Decentralizing The Sharing Economy Powered By The Blockchai...

The blockchain technology have been tip as the next best invention after the invention of the internet. It introduces cryptocurrency (digital currency) which made it possible for us to carry out secure transactions freely without the help of any financial body. This technology have been useful in different sectors and organizations such as the Sport Industry, Financial Institutions, Agriculture, Advertising, Social Networking and many more.

Due to the application of the blockchain technology and its wide range of usefulness in our world today, UChain is a well structured platform to deployed the blochcain technology in the sharing economy.

A Review Of The Sharing Economy
Sharing Economy is one aspect that have played an important role in the world today, it has receive tremendous growth over the last couple of year. It has contributed largely to the progress of many businesses where profit is of priority. Therefore, It is no longer a surprise that the purpose of most businesses around the world today is to make profit and benefits from the service they rendered. Hence, Sharing economy is one which gives an individual or a group of persons the leverage to earn and make money from underused assets. A good example is the car sharing services operations like Uber and the Airbnb's cost advantage over the hotel space as homeowners make use of spare bedrooms as the service they offer is quite cheaper than hotel rate around the world.

In addition, the sharing economy comprises of a company or businesses which play the role of a middleman or an intermediary services between consumers or users and service providers whereby the company involved will receive the agreed fee and commission for the peer-to-peer service they provide for both parties.

Details Of The Problem
Despite the progress and successes recorded by the sharing economy, some problems still emanate which have resulted to some limitations in the sharing economy. One of the problem is high transaction cost which is incur as a result of matchmaking.

Since the service of an intermediaries is required in the existing system, it is very possible for end users to pay high transaction fee. In addition the existing platform lack transparency and no guarantee of integrity or effective service as users database is being manipulated due to the centralized nature of the existing platform.

In order to properly eliminate the problems in the traditional sharing economy, the UChain platform was birthed to completely provide an extensive solutions to the problems facing the sharing economy.

The UChain Platform
This is the world first decentralized platform to deployed the blockchain technology to bring effective solutions to problems in the sharing economy. Uchain aim to create a global ecosystem whereby all its users will be free to shared all kind of contents without needing the services of middlemen. All of its end users will be able to exchange values freely.

As against the centralized traditional sharing economy that is prone to attack anytime, UChain will used the decentralized features of the blockchain technology to eliminate all intermediaries and securely provide additional security for the data of its end users. Therefore, with UChain your data is in your hands and you alone can determine those you want to see your data.

Since the platform is designed on the blockchain technology, transaction fee will be reduced to its minimal to satisfy its end users as the transaction fee offered by the existing platform were quite expensive. UChain will deployed the blcockhain technology to reduced transaction fee by 20% during all peer-to-peer transactions between the service providers and the end users in the decentralized ecosystem.

UChain is enhancing the sharing economy by using the most disruptive blockchain technology and the sharing economy 2.0 as at against the sharing economy 1.0 that was utilized in the traditional system. In order to facilitate the smooth running of the ecosystem, UChain is introducing its own cryptocurrency token known as UCN which will be used to validate all transactions in the ecosystem and it can also be used by its by users in the ecosystem to develop Decentralized Applications (DApps).

Conclusion
UChain is a platform bringing decentralization to the sharing economy. It is the best sharing economy that is designed on the blockchain technology as it will bring simplicity to its users in the ecosystem. On this platform, developers have the leverage to issue out decentralized applications (Dapps) in exchange for the UCN token that will be used to facilitate all transactions in the community.

Roadmap