UCHAIN- USING BLOCKCHAIN TECHNOLOGY TO REDEFINE THE SHARING ECONOMY

in #cryptocurrency3 years ago

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Have you ever heard of the sharing economy? Well, maybe you know but you might not know that is the sharing economy. Anyways, you may be surprised that you know it and can even give examples. Before we move on to what they are, let us know that the sharing economy ensures people utilize their resources in a profitable way. As it was quoted by , Ms. Robin Chase, in the whitepaper, “In the era of the sharing economy, people provide their idle resources, either a physical property or a service through a third-party platform for other people in exchange for money.” It is therefore a platform where everyone can make profit out of his or her resources by sharing with other people. Now let us come to why I am saying you know them already. These platforms exist in different areas of living – we have some in the fields of medicine, accommodation, knowledge, and transportation among others. Some examples of the sharing economy are Uber (shared transportation), Airbnb (shred accommodation), shared workspace (We-Work) and many others. These are platforms where people allocate their resources of different types to other people and get some earnings out of that as well.

The Global Sharing Economy
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The sharing economy has some problems that affect their ecosystem. First of all, we must know that the sharing economy is centralized, and with that, they control whatever activity that goes on in the platform. This explosively expanding venture has some issues such as the higher rising cost of transaction, the problem with regards to trust (you cannot share your car with anyone or your house with anyone), the risk of your data being leaked by the centralized control and so much more.

These problems therefore made it necessary for the establishment of a better platform. A platform that shall be free from centralized control and manipulation. A platform that shall give users an opportunity to be independent and take initiatives with their own resources. A platform that shall provide a trusted and transparent method of operations whereby maintaining optimum security. A platform that shall increase the incentivizing of users, and whereby the power of incentivizing will even go up. Well, there is good news. That platform has finally arrived, and it is UCHAIN. UCHAIN is a platform that seeks to create a redemption hub for the sharing economy.

THE UCHAIN SOLUTION

UCHAIN shall establish a platform that shall ensure the eradication of excessive transaction costs in the sharing economy. This shall be done by eliminating the middleman (centralized controllers of the sharing economy). The platform shall also make available the User Credit Passport that shall help provide users with reputation and credibility. Additionally, the platform shall encrypt user data to provide the maximum form of security to users. The good news is that all these shall be done by using the blockchain technology, the greatest innovation of our time.

To achieve the above, the milestones that the platform will be operated with are as follows:

  • The use of theDistributed Hash Table Algorithm- this initiative will also help prevent hack attacks from jeopardizing the whole system.

  • Using the Ripple Protocol Consensus Algorithm (RCPA) consensus mechanism- this was adopted due to the better transaction speed and additional benefits it has that can really help the sharing economy.

  • Using the awesomeElliptic Curve Cryptography to secure transactions on the system

  • In addition to the above, theSmart Contract Innovation shall also be integrated on the platform. Below is snapshot of the benefits of the smart contract system

  • There shall also be the establishment of the UCHAIN Digital Wallet- The digital wallet shall also help provide a storage platform for all users in the ecosystem.

  • That will not just be all, the establishment of a Decentralized Exchange on the wallet shall also make exchanging of coins more convenient for users.

The UCHAIN ecosystem shall comprise of different types of users with their unique roles. The shall be the base Users (who shall be the foundation block of the platform), Enterprises who can develop specialized DApps on the platform and get incentivized for that, and then the Independent Developers- who shall also participate in the development of Uchain’s infrastructure and DApp using the blockchain technology.

STRATEGIC PARTNERSHIPS
UCHAIN has sought partnership agreement form various companies to help make the UCHAN project a global ecosystem.

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THE UCHAIN TOKEN
The official tokens to be utilized on the platform will be the Uchain Token- UCN. To be part of the Uchain ecosystem, you will need to be a holder of the UCN. Users can also earn more of the tokens by staking their UCN into UCP (staked UCN). This will be a UCN with power and the more you stake for a long time, the higher the returns you will make from that. Take a look at the uses of the UCHAIN token below:

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The sharing economy is increasing globally and its adaptation is spreading like a wildfire, it is now a good time for you to be an early adopter of a new innovation. Be part of UCHAIN and let us make the sharing economy better, secure and profitable. Join UCHAIN through the following portal:

Website: https://uchain.world

Telegram: https://t.me/UchainEcosystem

And OH!! I forgot to add this, UCHAIN has already achieved their maximum sales cap at a whopping 35,000 ETH cap. So hurry and enjoy the best out of this great innovation while you can.

Author Telegram Username: @kwabeedat

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Great project!!!

thanks this post!!

Thanks for the compliment. Be sure to check it out.

I like the fact that they are integrating Ripple as their proof of consensus. RCPA is very good. It has been tested by others and it seems its adoption is gradually going to be on the rise. Anyways, that was a nice post. Keep it up.

Good review. I like this project.

nice post👍
upvt to upvt

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