Sharing economy that makes billions $$

With the rapid growth of technology with internet usage globally sharing economy has merged with different concepts and it has a huge growth. This can be called as a collaborative economy or peer-to-peer economy. This concept is already a huge success in different market segments such as Shared Accommodation (Airbnb), Shared Services (Task Rapid), Shared Transport (Uber, Grab), Shared Knowledge (Quora), etc. This tech platform segment is expect to grow in to 520$ billion in 2018

However sharing platforms are success still the users are not transform in to peer-to-peer communication. All of these platforms are generating the service through a centralized platform and cost for the Excessive Transaction are significantly higher. All of these centralized sharing economy platforms are collecting huge amount of user data and storing in centralized data bases which can caused to Data Leakage and Abuse. Most of these data that collected is highly sensitive to the user and when leakage happens this can be a threat to the user.

UChain a next Generation Distributed smart network build on block chain for the Sharing Economy. UChain tends to build true peer-to-peer blockchain based autonomous network. UChain will cut off the intermediate in between user and service provider and this will reduce the transaction fee roughly by 20%. The UChain’s token will be used to create the transaction using a smart contract and cross-chain technology will ensure the proof of authenticity.

UChain will create User Credit Passport (UCP) in a distributed ledger and passed to service provider, once service provide verify the UCP, the provider can use it as the identity authentication. All of the user and service provider data will be stored in distributed storage with a private key, which will not be tampered and can only access by the user. And yes UChain can modify the data through a smart contract but it’s only under the user’s authorization.

UChain ecosystem contain 3 main roles as Users, Enterprises and Independent Developers. Users can pay UCN for all services provided using UChain’s ecosystem, and also they can earn UCN by contributing or offering their idle resources to the network. Enterprises service providers can develop DApps with UChain infra. Also they can issue their own URC-1 token for the services.

UChain is using Ripple Protocol Consensus Algorithm (RCPA) which helps to cater 1,500 transactions per seconds. Also it will work with Elliptic Curve Cryptography (ECC) for the use of secure transactions within the network. Team has gone through different Consensus algorithms and selected RCPA due to the higher TPS and scalability to the ecosystem in longer run.

UChain ecosystem is focused on deploying 3rd parry systems and this API and SDK layer will be used to achieve this target. Blockchain developers can use API’s to integrate using UChain Smart Contracts and credit rating module will be accessible though this layer.

This layer contains Account Management Module, Policy Management Module, System Management Module, and Smart Contract Management Module and work together to offer management services and support to the 3rd party applications

UChain will be working as an Open network for the sharing economy platforms to create DApps in its ecosystem or systems can migrate to the UChain network. This open network will provide smart contracts, automatic split payments, key data on chain inquiry, UIP, user credit ratings and marketing functions.

UCN is the basic value unit on UChain and all other transactions are dominated in UCN. There will be UCN Power (UCP) with the voting power so that users can stake UCN to get UCP. All 3rd party applications in UChain network will be issuing URC-1 Token based on URC-1 slandered.

UChain has a global team behind the project and this team has years of experience in technological field with big data, distributed systems, p2p and IOT systems. Most of the senior level of team members are from the well-established business of U-Bicycle which operates in several countries including USA and China. The U-Bicycle has 30 million of users and UChain has made a strategic partnership with U-Bicycle to engage and offer the service in UChain eco system. Apart from U-Bicycle team has create partnership with Grab, U-Parking, LocalKing and U-Car which has more than 100 million users combined. UChain project holds a very strong stand point with above mentioned core members and these strategic partnerships.

Also UChain has a solid advisors from different industry segments and most of them has a strong credibility in each of their business segments.