UCHAIN: SHARING ECONOMY MEETS BLOCKCHAIN FOR BETTER GENERATION TO COME

teepheh (34)in #uchain • 6 years ago (edited)

At most times when we hear about the sharing economy which can also be called peer-to-peer(P2P) economy, what we expect to hear is how the market size is drastically increasing, the expectation of every individual involved in the sector is that its growth should be somewhat of very rapid so as attain great benefits. Even though the market size of the collaborative economy is increasing on a daily basis, there are some factors hampering it moving at the rate at which it is expected. There have been new and existing shortcomings in this sector that has really been disturbing. Some of these problems will be talked about as we move on.

SHORTCOMINGS OF THE COLLABORATIVE ECONOMY
As we have it that problems faced are the ones hindering rapid of growth movement of growth in the sector, lets take a moment to go through them. As it has been observed and noticed, one of the major problems that the sector faces today is the issue of excessive transaction cost, in the sense that companies tends to maximize profit while trying to reach their operational key performance indicator, therefore limiting the supply of their sharing service. The issue of low level of trust is also in play, as it is known that for a successful transaction to take place, mutual trust between suppliers and consumer, and given that centralized technology has not provided a valid solution to the problem, making the platform act as a middle man for parties involved and as such increasing roadblocks and cost. Another problem faced is the one of data leakage and abuse, as we all know that most companies running on the traditional platform stores their user's data in centralized databases and centralized data bases in vulnerable to breaching and mismanagement at any time, if any of those were to happen, the user's data might be compromised leading to leakage or theft of information. Also data abuse is a problem as companies which in their user's agreement promised not to use information of users such as phone number and email does not seem to comply with it as they use the data for other purposes. All these problems amongst others are really hindering the movement of the sector. These problems are being solved by a capable platform known as UCHAIN.

UCHAIN OVERVIEW
UChain is known to be a public blockchain network setup for worldwide sharing economy. The platform aims to develop a decentralized global sharing economy ecosystem in which user individually have ability to exchange value and publish contents freely without a middle man act. The decentralized infrastructure network platform will minimize and eventually eradicate the problems associated with the sector as a whole.

BENEFITS PROVIDED BY UCHAIN
Uchain platform has come with a host of benefits that cannot go unnoticed as they are the long awaited factors need in the sector. Some of them are highlighted as follows;

Uchain reduces the transaction fee by nearly 20%.
The platform eliminates intermediaries between parties.
It runs on blockchain making records tamperproof and fully traceable, thereby increasing trust level.
User's data on the platform is highly safe and secured and cannot be manipulate.

TOKEN DETAILS AND ALLOCATION
The official token of the uchain platform is the UCN token, in which will be used for every transaction performed on the platform. Some uses of the token are for fees, data contributed reward, user incentives, community reward and so on. The percentage in which the token will be allocated is shown below;