The business world is taking on new shapes especially after innovative technologies such as the internet and blockchain technology were developed. Businesses are out to make profit while providing needed products and services. When the reverse becomes the case, such business either gets bankrupt or goes into extinction.
To avoid this occurrence, business concepts such as Mergers and Acquisition (M&A) and Shared Economy were developed. For Mergers and Acquisition, companies are watching each other’s back by providing the other with service it lacks.
The shared economy on its part functions same way as Mergers and Acquisition. In the shared economy, a business or company is bridging the gap between service providers and consumers. A thin line exists among these two concepts with the latter requiring a business functioning as an intermediary and the latter being a sort of bail out.
Shared economy is expected to be worth $520 billion towards the end of 2018. It however has its problems and since it is centralized, there’s apparently no way a centralized solution can solve its hitches. Hence, a decentralized platform is required.
Problems in the Shared Economy
Intermediaries in the shared economy are paid for their services. Also known as the peer-to-peer and collaborative economy, the shared economy requires you to bring your unused properties for the benefit of others. You’re to make this properties or resources public through a third party and you get its value in cash.
In another scenario, you’re required to match-make consumers to products and derive your commission for doing so. This was where the problem arose. There’s high cost of transaction in the traditional shared economy because you’re highly charged when you seek connection to the service provider.
Data breach is also eminent as users’ data are provided to intermediaries during transactions. So there’s possibility of you losing your data. Another issue is centralization of storage system that makes it easy to hack.
Issues that arose in the centralized and traditional shared economy are much but the above are among the key issues found in the system. To salvage these problems, decentralization has to be effected in the system
UChain: A Solution to the Shared Economy
As posited by its developers, UChain is the pioneer public infrastructure blockchain that was developed for the global sharing economy. The platform is bringing decentralization to the shared economy through the blockchain technology.
With this amazing feature of the blockchain technology (decentralization), middlemen/intermediaries will be eliminated from the global shared economy system. Your data will in turn be safe as you’re now in charge and can only share it with whomever you please.
How it Works
By using the blockchain technology, UChain hopes to eliminate intermediaries and instead empower users to cohabit among themselves. Using the peer-to-peer network governed by smart contracts and powered by blockchain, UChain will easily cutoff middlemen in the shared economy. Now, you can interact with service providers and they’ll do so likewise.
To reduce high cost of transactions, UChain is offering 20% reduction because there are no middlemen to take the fees. It will also authenticate transactions on the platform through its transaction certificate.
UChain will also decentralize the storage system by using a distributed data storage that shreds and stores data in multiple nodes. The smart contract technology will be utilized for efficient transaction and token use during transactions.
Finally, there’s the User Credit Passport that records your behavior, transaction and credit history. This ensures there’s transparency in the UChain ecosystem and at the same time, eliminates tendencies of fraudulent conception and illegal modifications of profiles.
New Shared Economy
UChain comes with a new shared economy to be known as Sharing Economy 2.0. This will replace earlier shared economy (Sharing Economy 1.0).
Decentralized Applications (dApp)
UChain also offers more prospects to developers. Using the UChain token (UCN), skilled developers can come up with Decentralized Applications (dApps). Same way, developers can exchange the UCN token by issuing their tokens to service users.
Decentralized applications can be developed by both businesses and developers. Developed dApps can be issued in exchange for the UCN token or fiat currency.
Wrapping Up
Prospects offered by UChain are many but what we have to take away is that UChain is indeed a good propect and with its projection for the shared economy, no doubt, the industry will grow to better heights if key investors will follow up this project.
UChain is here to replace traditional shared economy platforms such as Uber, Quora and AirBnB. Just as it solves problems in the system, it also allows developers come up with decentralized applications (dApps) that can be issued for income either in fiat currency or the UCN token.
The Journey
Distribution of Tokens
Sales: 40%
Ecosystem: 35%
Team: 15%
Reserve: 10%
Token Specifications
Ticker: UCN
Token Standard: ERC20
Hard Cap: 42, 000 ETH
Exchange Rate: 1 ETH=5, 000 UCN
Accepted: Ethereum
The Team
Advisors
Partners
For more information about the project follow the links below
Website: https://uchain.world/
Whitepaper: https://uchain.world/css/img/pdf/uchain-whitepaper-dbe5656d6c.pdf
Telegram: https://t.me/UchainEcosystem
Twitter: https://twitter.com/UChainEcosystem
Author: PhilMovs
Bitcointalk Profile URL: https://bitcointalk.org/index.php?action=profile;u=2035939