E-commerce is experiencing a paradigm shift towards crypto currency utilizing blockchain technology as a borderless transaction portal. Blockchain maintains a permanent and tamper-proof record of transactional data. It works as a decentralized database that is managed by computers belonging to a peer-to-peer network. A cryptocurrency is a digital currency. By using the encryption techniques, it regulates the generation of currency and verifies the transfer of funds. E-commerce is the buying and selling of goods and services on the internet. E-commerce worldwide sales are projected to increase to USD 4.058 trillion by 2020. The issues faced by the E-commerce industry are:
• Limited access and knowledge of Blockchain economies. Today, merchants are limited in accepting payments in cryptocurrencies. A new digital asset class is being created which permits the formation of a token-based digital asset economy. Merchants, consumers and gamers will understand and participate in the Blockchain created economy.
• Cross border currency fluctuations. The users of the online commerce and entertainment are exposed to the foreign exchange market. Also transactions aren’t always secure and verifiable with the KYC (Know Your Client) process being challenging at times. Traditional Barter exchange’s charge cash fees ranging between 10-13% (buy/sell) per transaction. When combined with joining fees, advertising fees, non-trade fees and lock-in contracts, the advantage with regard to profit margin gained through barter is diminished.
• Intermediary, central banks or clearing houses sit in the middle of the transactions and control the process.
Solution offered
Ube Ltd, an incredible platform, is focused on providing a user-friendly base to E-commerce. It provides easy access into the Ubecoin ecosystem which will facilitate the entry into the modern economy.
The execution will be done through a 3-phase approach.
• Free Trade Barter (FTB) –The merchants are permitted to trade goods and services without cash transaction fees as it creates a subscription based E-commerce platform. It seeks to disrupt the global barter industry by offering a subscription based advertising model. Ube Ltd will soon be generating Consumer to Business transactions.
• Online Entertainment – The consumers will be granted access to the goods and services of the merchant barter network.
• Fintech & Telco - The merchant and consumers will be offered retail and corporate products. Ube Ltd by partnering with the Fintech will develop and integrate Ubecoin into various financial service providers.
Token generation event and team
The token generation event begins from 5th July 2018 and ends on 1st November 2018. The funds will be spent on technology development (30%), multi-jurisdictional expansion and legal (25%), marketing and brand development (20%), operations (10%), IP (10%), and contingency (5%). The team working on the project comprises of individuals who are experts in the fields of Blockchain, business, marketing and management.
Conclusion
Ube Ltd is an incredible platform that aims is to give power back to the merchants. Its vision is to organize the traditional barter model globally by converting it into a community based decentralized subscription model. Ubecoin will be utilized as an exchange medium globally for merchants. It will reduce the currency fluctuations and the cash fees sustained by generic cross border transactions. Ube Ltd will offer access and advantage of a decentralized trading platform to the consumers and small to medium businesses. By using the Blockchain technology, it will provide instant global transactions for merchants and consumers.
For more details visit
Website: https://www.ubecoin.com/
Whitepaper: https://ubecoin.com/wp-content/uploads/2018/07/Ubecoin-WP-V10.pdf
Telegram: https://t.me/ubecoin
Published by: Pooja Jur
Btalk profile: https://bitcointalk.org/index.php?action=profile;u=1217469