More Sharing & More Caring with NEW Blockchain

hatu (76)in #ethereum • 6 years ago

Venture capitalists are always in search of new ideas.

Revolutionary concepts arise once a generation and investors hope to capitalize on them. Today, communication has been greatly eased and this also eases the ability of a novel concept to grow like a surging tide. However, product novelty and adoption do not equate to a successful service.

Since the dawn of this millenium, many novel ideas have been transformed into powerful technologies or convenient services. A hallmark example of a rising convenience service would be the growing sharing economy. People have erronously associated some sharing services as economical options to traditional economies; the reality is that in its current stage, the sharing economy has only achieved convenience.

Uber stands on the pedestal of the sharing economy. It was the pioneer of ridesharing and amassed a roaring growth in valuation in a measly amount of time. Uber serves as the best example of how the current state of ride-hailing only offers convenience and not cost reduction in service delivery.

Uber rides seem cheaper than traditional taxi services. The savings consumers enjoy are due to the subsidized prices supported by the billions of dollars investors have injected into Uber; the company loses billions year-on-year in order to keep prices low. The cost has been passed from app users to investors. The hope that eventually the investments will develop a powerful ROI may or may not be realized.

Cost Reduction Demands Decentralization

Uber has made the act of gaining a ride convenient by integrating the service into the phones we adore.

This does not and can not impact long-term cost factorization because Uber is a centralized company. Like any traditional transport service provider, it has an internal cost factor. Uber acts as a market-maker, a middleman that connects the ride with the customer. The middleman has not been erased; the app has simply replaced the dispatcher.

Conveniently for the mass market, the sharing economy is not the only novel concept facing wide adoption. Blockchain technology can provide an organic solution to sharing economies as these are ideally meant to be comprised of p2p interactions; blockchain is the optimizer of p2p interactions. Now, a new blockchain, UChain, aims to be the foundation the sharing economy needs to not just be convenient, but also cost-effective.

UChain

UChain founders assert that they are developing a technology that can power the sharing economies of tomorrow, ones that are more secure and efficient, yet convenient. Generally, convenience and security act as inhibitors of each other. A degree of gain on one of these equates to a degree of loss on the other.

However, UChain leverages the blockchain to change past norms and creates a platform that can internalize multiple value-additives for the products that integrate its development.

Cost-Effective

UChain creates an ecosystem where users can interact with each as the network seamlessly connects interactions.

A single network connects enterprises that supply assets to sustain the sharing market's needs, developers that build the dApps that seamlessly put the supplied assets to a utility for the consumers. Instead of a middleman, the blockchain becomes the connector as UChain's smart contracts manage the interactions.

Security

UChain focuses on two matters of security.

The ecosystem is designed to secure one of the most sought-after assets of the modern era: data. UChain not only decrypts data but also chunks it across multiple nodes to ensure an additional layer of security. Furthermore, to ensure the integrity of a truly p2p ecosystem is not destabilized by bad actors, the platform creates an internal credit rating for users to ensure users sustain their reputation.

Wrap-Up: UChain is the first blockchain that builds p2p sharing economies without compromising any degree of convenience, security, or cost-effectiveness.