In 2020, it is estimated that the number of cryptocurrency holders will be 10 times bigger than today. Anyone can obtain cryptocurrencies by selling goods. In this way, mass adoption of cryptocurrency will inevitably happen in the near future. Ubcoin sees this phenomenon as a great opportunity to create a global mobile marketplace enabling users to sell and buy real-world products for the cryptocurrency.
The Background of the Project
The number of people owning cryptocurrencies keeps increasing time to time. Those who are not having ones would like to obtain them too. It is clear that people are becoming more aware of cryptocurrencies. Many of them consider crypto as an investment tool that will bring profit for the investors while others look for the advantages of uncomplicated online transactions and opportunities for new business afforded by blockchain tech. Cryptocurrencies mass adoption is surely happening soon.
However, due to the fluctuation of capitalization that reaches 300 billion USD, governments and banks set strict rules to regulate crypto transactions. Meanwhile, consumers demand an easy and secure way in obtaining cryptocurrencies.
The goal of Ubcoin is to help consumers wherever they are to invest in crypto seamlessly and securely and to participate in the Ubcoin digital marketplace by selling and purchasing goods for cryptocurrency freely.
Market Opportunity
The condition of the current market is making it a great potential to establish a crypto-to-goods mobile marketplace. It is because of a number of reasons. First, there are many people who want to obtain cryptocurrency in a safe and simple way. The problem is that they have no idea how to start since they are neither speculators, not miners. They just know that there is added value in cryptocurrency investment. In 2020, the number of cryptocurrency holders will explode. Second, people have been comfortable with only shopping. They shop for goods on eBay, Amazon, and other online retailers. It is projected that more than 2 billion people will become digital buyers.
Then, why mobile device? Ubcoin focuses on the use of mobile device because, in 2020, global smartphone penetration will increase by 37%. Moreover, cryptocurrency wallets have been focused largely on mobile devices.
Ubcoin Visions
Considering what is happening currently in the market, Ubcoin has set some visions. Through its mobile marketplace, it will help people to sell good and own cryptocurrency and to spend the wealth of cryptocurrency by purchasing real-world products. The global Ubcoin marketplace is fueled by Ethereum blockchain and UBC Token. This will equip each transaction with peer-to-peer smart contracts. The use of smart contracts will ensure that every transaction is secure, transparent, and decentralized.
Because the regulation related to cryptocurrencies in B2C arena evolves, the Ubcoin marketplace will add business buyers and sellers to its roster. The use of smart contract will replace the need of intermediaries which means it will reduce the fee, too. It will eventually make this direct manufacturer-to-consumer transaction will grow explosively. As a result, more buyers and sellers will be attracted to this low pricing.
Later, some transactions may need KYC/AML process to perform particular deals of smart contracts that may involve notaries, couriers, and other third-party providers. Ubcoin will envision seamless cooperation with these parties. The platform attempts to ensure the legitimacy of products sold on its marketplace. With the use of Artificial Intelligent, the platform can help pre-screen seller postings for any possible breaches of ethics, security and due care.
UBC Token Details
In order to fuel the platform development, the company needs to hold the token sale to raise some funds. The public token sale has already started since 2 April 2018 and it will end on 14 July 2018. As an ERC20 extended token, UBC can fit to any wallets. This utility token is used as a means of transaction in Ubcoin Marketplace and to for the settlements of the smart contracts. There are 4 billion UBC supplied. After the sale, there won’t be new tokens created. Among the 4 billion tokens, 45% of the tokens are distributed for ICO sale while the rest of them are for limited private sale, team, advisors, and community rewards.
In the next article, you learn about the details of the platform. The next information will cover the products and features of Ubcoin.
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