UChain ICO Review

https://uchain.world/

What is UCHAIN?

Have you ever heard about sharing economy ecosystem? heard about Uber or Airbnb? I know your answer to the 2nd question is YES…!

According to eMarketer’s latest estimates, over a quarter (26.0%) of US adult internet users or 56.5 million people will use a sharing economy service at least once in 2017.

These charts show the popularity of sharing economy ecosystems among our community..its growing day by day..even with such a huge popularity these systems having some problems/issues of trust /high transaction cost and data abuse.

UCHAIN is the first public infrastructure blockchain specifically designed for the global sharing economy. Along with other sharing economy enterprises, UCHAIN aims to build its underlying blockchain network to solve the current problems of trust and data abuse. Exercising API's and SDK's provided by UCHAIN, all sharing economy enterprises are able to issue their own token and build their application on the UCHAIN network, together making UChain a better global autonomous sharing economy ecosystem.

How Uchain solve major problems of current sharing economy ecosystems?

P-P network-
Decentralized peer to peer blockchain network with a smart contract to cutoff intermediaries.

Distributed data source-
Encrypted data shredded and stored on different nodes to improve data security.

User credit passport-
Cross-application user credit passport with a proprietary credit rating algorithm to effectively record user behavior.

Token incentive-
Tokenized ecosystem to increase participation and engagement of both users and enterprises

Importance of combination of sharing economy ecosystem and Blockchain technology

Blockchain exists for more than just digital currency. The financial industry has recently become more receptive to blockchain technology and many believe it shows great promise in reducing transfer times and fees alike.

The sharing economy, comprising primarily millennials, is the perfect fit for a new payment resolution system. Blockchain provides this service by integrating a lightning fast, easily verifiable and trust-less payment system that works cross-border. While fiat currency must be exchanged at a hefty fee for use in other countries, blockchain systems are almost universally global.

A currency issued by a private institution runs the risk of fraud or embezzlement, whereas blockchain technology avoids this through decentralization. Once a blockchain is available, it requires a support network of remote nodes that process transactions and validate the ‘chain’ in tandem.

A certain number of these nodes are required to form a consensus before a transaction can be fully validated. This process has the potential to integrate all of the various arms of the sharing economy into one complete marketplace. While Uber and Airbnb both take a cut of the profits, a blockchain based service would have no such need – the middleman is cut out completely by an autonomous system.

UCHAIN and U-Bicycle
What is the relationship between these two?

U-Bicycle is one of the world’s leading bike-sharing platforms that aims to revolutionize mobility in cities and campuses by empowering global citizens with a greener, more efficient, and affordable mode of transportation. U-bicycle has over 30 million registered users currently located in East Asia, South East Asia, North America, with plans to move into Europe.

U-bicycle already launched an application called Dapp to facilitate their operations. With the use of this mobile app, users can locate and return their bikes anywhere responsible and permitted by local law. You can download the app from Google play (android version) or app store(ios) .U-bicycle planed to sharing their bicycle application on UCHAIN after mainnet and enterprise open platform released.

UCN Token-

UCN is the basic token of UCHAIN blockchain. All transactions will be dominated in UCN. The value of all other tokens is derived from UCN. Those who wish to join or leave UChain ecosystem must buy or sell UCN.

Token Contract Address: 0xaaf37055188feee4869de63464937e683d61b2a1
Symbol: UCN
Decimals: 18

Staked UCN (UCP)
Users can get UCP by locking their UCN. UCP is just UCN with voting power, and as such gives the holder higher ecological access.
URC-1 Token-
All applications built on UCHAIN can issue their URC-1 standers token

Token sale-

Token sale completed successfully during the presale. 30,000+ ETH Raised and crowdsale canceled and replaced by bounty Program.

Now you can join bounty program from this link(Due to overwhelming support, bounty registration has now been paused(09/07/2018). it may reopen registration at a later date.)

https://www.g0blin.com/uchain/

The base tokens from the Presale will be unlocked / transferable once we list on a centralized exchange (no exact date available yet). The 15% bonus will remain locked until October 12th.

All airdrop and bounty tokens will have a vesting period of 4 weeks from the date that our bounty concludes, so these tokens become transferable September 3rd

Token allocation and use of funds-

Roadmap-

2017Q1-
Began to investigate problems of the current sharing economy and decided to build a new generation of sharing economy by using blockchain technology

2017 Q2-Q4-
UCHAIN team formed, initial whitepaper drafted

2018 Q1-
Technical feasibility was thoroughly examined and final whitepaper and website launched.

2018 Q2-
private sale

2018 Q3-
Public presale and crowd sale
Token distribution and UCN make transferable
Development of wallet and blockchain explorer
Testnet made available

2018 Q4-
Mainnet will be available
Enterprise open platform will be released

2018 Q2-Q4
introducing new partners and companies to build up sharing economy

2019 Q1
User credit passport system and will be released
U-Bicycle Dapp will be migrated to UCHAIN

2019+
P to P transaction platform will be made available
Upgrades and developments to enable any further scalability and accommodate for any sharing company that would like to use ecosystem.

Team-

The good and well-talented team is the most important thing for the success. UCHAIN has a well-experienced team lead by Ian Yu

Ian Yu

Working as a Founder and CEO of this project. He is the founder and CEO of U-bicycle. Also, he is among early bitcoin investors and miners.

Grace Min – Co-founder
Will Zhou - Chief Technical Officer
Chris Tao - Chief Strategy Officer
Jason Wu – Senior Architect
Benny Liao – Chief Product Officer
Mandy Chan – Chief Marketing Officer
Raviv Litman - Operation Director

Advisers-

More details:

• Website - https://uchain.world/
• Medium - https://medium.com/uchain
• Twitter - https://twitter.com/UChainEcosystem
• Telegram - https://t.me/UchainEcosystem

AUTHOR: Vionaa

My Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1663173