UCHAIN - REVITALIZING THE GLOBAL SHARING ECONOMY WITH BLOCKCHAIN TE...

The internet has brought about countless benefits to the world at large, this benefits include the global sharing economy . You may have previous insight about the global sharing economy , but if you don't, it is a peer-peer economy where participants share idle resources with the help of a platform . To simply put, it is a platform where people go to receive services from other people that get paid for the service they render to other users. In the current sharing economy, both the participants, platform and service providers receives value, one way or the other . Normal users pay for services which they are really in need of, the platform they use probably receives commission from money paid by normal users to service renderers . The service providing users gets paid from the service they render to normal users. With this simple explanation am sure by now you understand how important p2p economy is and why it is pull weights all over the world. An example of companies that offer or partake in sharing economy include :-

Uber :- They offer shared transportation
Airbnb :- They offer shared Accomodation
Quora:- They offer shared knowledge

This are few examples of reputable companies that are involved in sharing economy. It is without doubt that the sharing economy is doing well, as it is forecasted to reach a whooping $520billion at the end of 2018. Sadly, the system still faces some challenges which am going to pan out and also a reputable solution .

These issues include

Huge transaction charges
Trust issues among users
Data abuse and possible leakage

Paying a closer look at the problems mentioned above, will talk about the first problem.

Huge transaction charges:- Due to the decentralized pattern employed by businesses, Huge charges are always and will continue to be an issue. The companies offering this shared economy, put assign charges and nothing can be done about it. Remember every company wants maximum profit,to make this happen, companies do not mind reducing the shared services just to maximize their profits .

Trust Issues :- In every aspect of life, trust is very important . It is therefore if maximum importance when it comes to transactions between a customer and a dealer. To bring an end to trust issues, traditional technology proposed a middleman system where a company will stand between them, to collect collateral and probably incentives, so as to reduce the risk of both parties. This is an additional barrier.
Data Abuse And Possible Leakage :- When registering on traditional shared economy based companies , users are needed to submit a lot of data to the system, most times to get them verified . This data is usually stored in centralized databases. When a hack happens, lots of important, valuable and sensitive data will be released at once to the criminal. This is very risky .

All the issues mentioned above, have been overlooked over the years, but if this issues are remedied the sharing economy will have no limits whatsoever and even excel the more. The remedy needed to revolutionize the global sharing economy is known as uchain.

What is Uchain ?

Uchain is a blockchain based platform built to revolutionize the global sharing economy. This will be achieved with the uchain online platform and and its adopted blockchain technology . Uchain is the necessary revolution needed in the global sharing economy .

HOW DOES UCHAIN PLAN TO SOLVE THE ISSUES ABOVE

The issues of huge transaction charges is easily solved with blockchain technology and cryptocurrency. Uchain having its own cryptocurrency can easily help customers and service providers run transactions without a third party platform and transactions fees would be cut off by above 20%
The blockchain is transparent, and this property can help enhance trust between customer and dealer
Uchain will create a credit passport system that will be owned by all service sharing provides. When a transaction is to be carried out, the service provider can easily verify the passport of the user in need of services. Therefore this users can transact directly without fear.
Data Security :- All users data in the Uchain network will be stored on the blockchain. Making it harder to get access to, as it is a decentralized form of storage . Users can rest easy as their details are safe on the blockchain

THE UCHAIN ECOSYSTEM IS MADE UP OF

Users:- Those that use the uchain ecosystem, this include normal users and service providing users
Enterprises (companies ):- Companies that leverage on the uchain ecosystem
Developers :- This are experts in developing Dapps , and they can participate in uchain Sapp creations.
Modules :- - Uchain reward program
Urc-1 standard
Digital asset registration platform
Credit passport system
Digital wallet
Huge partnerships.

UCN TOKENS

The ucn token is the token peculiar to the uchain ecosystem, when a users gets to join or probably exit the uchain ecosystem, Inc must be bought or sold off.