Introduction:
Cryptocurrencies are slowly, but steadily gaining more supporters. More investors, but also companies are joining the blockchain. Currently it is estimated that around 22 million users have joined the cryptoworld, but more are about to come. In 2 years, it is predicted that more than ten times than today, around 200 million users will be familiar with cryptocurrencies. Cryptocurrencies will be adopted by the masses for the daily usage, such as for payments and even more. People love to buy things online and pay wirelessly, since it is more convienient than carrying money around.
Ubcoin Marketplace:
The Ubcoin Market is a global mobile marketplace for buying and selling goods for cryptocurrency. The Ubcoin Marketplace can be similarly seen as an Ebay-like model, but instead of paying with fiat, UBC tokens will be the payment method. As UBC tokens then also can be switched on exchanges to other tokens or fiat, it is a convenient way to buy and sell stuff online for other cryptocurrencies. What is special about Ubcoin is that it is not a greenfield project anymore. Rather it is an extension of the since 2009 existing mobile app Ubank with over 16 million active users worldwide. Furthermore Ubank already has over 50 developers as well as advisors to promote this project. The Ubcoin marketplace will be part of the Ubank mobile application.
The Ubcoin market will be aiming for:
- Mass Adoption, so digital assets become convenient for the daily usage
- P2P Interaction, so intermediaries can be reduced or are no longer needed thanks to smart contracts
- Legal Marketplace with a helping AI technology for higher safety
- Decentralization as the blockchains initial goal
- Great Interface for easy buying and selling options
- Open Community with support for third-party providers
Below you can find the technical scheme for the Ubcoin platform:
Exclusive Partnerships:
The Ubcoin project has a special and exclusive partnership with Samsung and Fly. Both partners have pre-installed current products of Ubcoin on all smartphones, even on the new flagship model Samsung Galaxy S9. The partnerships are a great marketing method, helping to increase the usage and userbase. It's a great step forward for the cryptocurrency adoption for the masses.
The ICO:
The Ubcoin project is currently doing its ICO to collect funds for the project development, marketing, app distribution and legal costs. As a supporter, everyone can participate in their ICO to receive UBC tokens, the native token for the Ubcoin project.
- The maximum token issued is 650.000.000 UBC with a hardcap of 29.000 ETH
- Sale begins on 2nd april 2018 and ends on the 14th july 2018
- Contribution methods are Bitcoin and Ethereum
- Currently on the 4th stage with a 13% bonus, 1 ETH grants 9.200 UBC
The Token Distribution can be seen in the following graphic:
UBC-Token-Usage and Advantages:
- The UBC token will power the marketplace ecosystem and no other cryptocurrency will be used
- With more UBC tokens beeing hold, the fees on the marketplace are beeing reduced proportionally. This is an incentive to hold UBC tokens and increases the value long term
- With a great reserve pool of UBC tokens, price dumpings are prevented
- A token buyback program ensures the stability of the token price
- With every transaction, 5% of tokens are burned and therefore the maximum supply is reduced, leading to a higher price
Roadmap:
Below you can find the roadmap starting from 2018 until 2022. For this year not only the ICO and the token listing on the exchanges is planned, but also the first beta versions of the product, as well as the marketplace in Southeast Asia is planned. A full version of the app for Eastern Europe is expected in the first quarter of 2019. If you want to see the full roadmap, which includes all the goals reached so far, simply either head to the official website or take a look here. https://doc.ubcoin.io/roadmap.pdf
My Opinion:
There have been already some similar ideas of creating a marketplace to buy and sell stuff online for cryptocurrencies so far. But none of the projects I know, have already a working product or app developed. Ubcoin is the only one not only with namely known partnerships, but also with an already existing big userbase and a working mobile application. The Ubcoin project easily contributes to the crypto community growth, so the expected userbase of cryptocurrency can reach 200 million active users in year 2020. So far, I'm quite impressed with the project and highly think of a great success for this project. Overall I'm very excited for the Ubcoin market to launch soon, so finally buying and selling stuff online with cryptocurrencies will be possible with an ease.
Further Information:
Want to know more about the Ubcoin project? Take a look at their official website and their whitepaper for more information. Also subscribe to their official communication channels to stay up to date. Any questions, feel free to comment below.
Website: https://ubcoin.io/
Whitepaper: https://doc.ubcoin.io/wp_eng.pdf
Twitter: https://twitter.com/ubcoin
Facebook: https://facebook.com/ubcoinmarket
Telegram: https://t.me/ubcoin
My ETH: 0xFc58f16Ab51A635fdb06b4Db14E59ad994884AD7My Bitcointalk Profile (Rano): https://bitcointalk.org/index.php?action=profile;u=1609093
nice review my friend. the reserve pool looks a little bit big. i hope it's explained in the whitepaper which I will have a look at now
Thanks. Yeah it is quite high, but there are quite many projects out there with also high reserve pools like DBC. They normally are released over years.
Using cryptocurrency as a currency is what it was designed to do. I like projects that use that concept and build around it. Thanks for the info.
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