Uchain's Difference in Transition to 2.0, the Future of the Sharing...

What kind of idea is forming in your mind when I say "Sharing Economy". I know time is ticking away too fast and we're having hard times keeping up with new concepts as they enter in our lives. The sharing economy has emerged as a new type of economic model that doesn't run unilaterally and has beneficial based on mutually benefit. It is now possible to examine this market, which has reached a huge volume of 520 billion dollars, within certain headings. For example, Airbnb in the accommodation sector, We-work in the field of business sharing, TaskRabbit in the shared services field, Uber in the transportation with vehicle sector, Open Garden in the resource sharing field, Quora in the information sharing platforms, Medicast in the medical service sharing field and Coursera in the shared education field. I think we can comfortably put forward an idea about the outlines of the sharing economy and its future. I think that the sharing economy promises the future because it is an innovative model that continues to rapidly expand the market on a global scale and allows the person to create value in the economy. Since the share-sharing economy still continues on the 1.0 model, it has had to deal with certain major problems.

It isn't enough to know that centralized models are the inevitable consequences of the problems in the shared economy as well as we are going into the details below. It is also necessary to produce it in solutions. The shared economy, which is based on collective consumption, is a creative and innovative business model developed upon the sharing of goods or service within a certain period. Customers who have had the opportunity to benefit from leasing-style hiring services at a more affordable price without purchasing a product/service at this point could have been part of a profitable circulation in itself. Now I want to talk about some of the problems and the solutions that UChain brings.

Centralized platforms receive expense over extremely high costs and many companies that adopt the business model of the sharing economy go for the purchase of exorbitant commissions to maximize their profits queer the development of this mutually beneficial model's pitch. Why, as you may have guessed, is that companies want to make more profits while lowering the quality of service can lead to reduced newfangleness for the sharing model. I will never go into the issue of the extra costs of banks and other intermediary institutions. A situation that we all know is that it is necessary for the intermediary institutions to get out of the way.

Solution 1: UChain intends to reduce transaction costs by approximately 20% by eliminating the intermediary problem between transactions between users and service providers through its founding decentralized blockchain network. Service fees received against UChain tokens (UCN) will be used for transaction approval, thus reducing the risk of legality, reliability, and compliance. Of course, I would like to mention that you have to have a certain amount of token in your wallet. UChain tokens will be used for approval of service transactions, thus issues of legality, reliability, and compliance will be able to reduce risks in the transaction process. Of course, I would like to mention that you have to keep a certain amount of token as a deposit in your wallet.

One of the basic conditions for being up and running of the sharing economy is that mutual trust can be established. Old-fashioned business models and inadequate and limited technological developments have unfortunately failed to solve this trust problem. Platforms that are a guarantor for both sides of the commercial transaction have reduced the financial risk while trying to make the transaction secure, but they haven't prevented the costs from increasing exponentially.

Solution 2: UChain will record all transaction activities in a transparent manner on many nodes in the blockchain network, which will allow us to achieve a traceable, unbreakable and decentralized structure through distributed ledgers. Thanks to this trust chain, mechanisms will be established to ensure reliability for users. We can call it a kind of passport service. Here you will have the opportunity to benefit from many services without having to pay a deposit with the credit scores recorded in your passport.

The companies that carry the sharing economy to the customers have made it possible for many people to benefit from this. Of course, the databases of these companies immediately filled up with an incredible amount of personal data. The protection of these data is now a separate problem. Centralized databases and servers used to protect data are now facing the risk of infringement and leakage. There is also the fact that there may be open-eyed that seek to acquire and thereafter abuse this data or to profit by selling it. It should be kept in mind that a decentralized data storage system may be a barrier to data leakage and abuse of this data.

Solution 3: UChain records many data, such as identification information, transaction records, on nodes of the blockchain. Saving data in a centralized database is always a big risk. Already many times it is possible to see in the mainstream media how this data is stolen. UChain chose to store this data in accordance with a distributed storage scheme so that it can only be reached via a private key. In this way, only those who are possessed will be able to access the data and a safe structure will be established where the data can’t be tampered with by the others.

It is now clear that it is time to move on to the next phase of 1.0 thanks to companies that allows the spread of the popularity of sharing economy around the world, and increase market value day by day, which can fail to satisfy the desired efficiency for peer to peer. UChain is a specially designed blockchain infrastructure for the global sharing economy. With UChain and its team, a decentralized and globally targeted sharing economy will be built, where people can freely trade services and goods without intermediaries and publish content. UChain has planned to give a fillip to a new potential that will be able to move the sharing economy to 2.0. The UChain platform is just one of the characteristic features that companies that want to work with the sharing economy in the ecosystem of sharing will be able to use their own tokens. It goes to show interesting of the project, which has so far fund-raise investment over 30,000 ETH. I think it's a clear sign that the presence of a major deficit is also felt on the market. UChain will easily show itself as the most energetic asymmetric algorithm against old-fashioned encryption algorithms that have the ponderous structure for security to use Elliptic Curve Cryptography (ECC) to ensure the stability of each process.

Blockchain consists of peer-to-peer networks that aren't tied to any centralized structure. We can say that this technology, which conforms to the sharing of economics by its structure, is the most favorable environment that can be built on 2.0 of the sharing economy. UChain has the experience and knowledge to use this feature to carry the sharing economy to the next level. The idea of autonomous structures continues to be an inspiration to many projects for the time being. We can say that thanks to opportunities, innovative projects go on incessantly. UChain has been able to serve all over the world and has already shown the potential to contribute to the sharing economy with the U-bicycle project. Except of the UChain project, UB Group Holding has incorporated X-Bike (Campus Bike), a leading brand on bicycle sharing in Chinese Colleges; LocalKing (Leek-U-biCle), a market leader in shared transportation in Taiwan; GrabCycle, the transport-sharing company in founder of Grab, also includes U-Car, an innovative brand in vehicle sharing services, and an ongoing pioneer project for intelligent parking services, U-Park and. UChain is ready to make great leaps forward. I think that the new horizons that will be created by combining the financial sharing with the open source infrastructure will provide the future. Except of the UChain project, UB Group Holding has launched X-Bike (Campus Bike), a leading brand on bicycle sharing in Chinese Colleges; LocalKing (Leek-U-biCle), a market leader in shared transportation in Taiwan; GrabCycle, founder of the transport-sharing company Grab, also includes UCar, an ongoing pioneer project for intelligent parking services, UPark and an innovative brand in vehicle sharing services. UChain is ready to make great leaps forward. I think that the new horizons that will be created by combining the financial sharing with the open source infrastructure will provide the future.